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Business Materials and Metals

  • KIEV, Feb 22- The Ukrainian central bank will take "anti-crisis measures" if a rail blockade in Ukraine's war-torn east continues, resulting in lost foreign exchange earnings, the head of the regulator told Reuters. On Monday, Ukraine's largest steel producer, Metinvest, said the blockade had forced it to halt production temporarily at one of its mills and several...

  • TORONTO, Feb 22- Canada's main stock index fell on Wednesday, pulling back from a record high hit the day before, as lower commodity prices weighed on shares of energy and materials companies and domestic retail sales fell the most in nine months. At 11:03 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index fell 43.87 points, or 0.28 percent, to 15,878.50.

  • LEVERKUSEN, Germany, Feb 22- German drugs and pesticides maker Bayer forecast a year without earnings growth for its agricultural products business on Wednesday, as it seeks to complete its $66 billion deal to take over U.S. seeds giant Monsanto. The shares were down 1.8 percent at 106.95 euros at 1319 GMT, reversing gains made over the last three trading sessions...

  • BEIJING, Feb 22- China will ratchet up planned steel production cuts and target illegal factories in an effort to reduce pollution during the winter, an official said on Wednesday. Steel producing cities in China's Hebei province must also cut production in half during the winter season and seasonal production halts on cement and casting industries in the...

  • SAO PAULO/ ESSEN, Feb 22- Thyssenkrupp AG has struck a deal to sell its loss-making Brazilian steel mill CSA to Ternium SA for 1.26 billion euros, ending a foray into the Americas that led to billions of euros in losses. Including debt, the deal announced by the two companies late on Tuesday gives CSA, the largest foreign investment project ever in Brazil, an...

  • NORTHFIELD, Ill. _ Stepan Co. on Wednesday reported fourth-quarter profit of $8.4 million. On a per-share basis, the Northfield, Illinois- based company said it had net income of 36 cents. Stepan Co. shares have decreased 3 percent since the beginning of the year.

  • LAUNCESTON, Australia, Feb 22- Something is not quite adding up in China's iron and steel markets, with the reasons for the current rally in prices for both commodities jarring uncomfortably with actual data. Iron ore futures on the Dalian Commodity Exchange on Tuesday hit the highest since the contract was launched in 2013, reaching an intraday peak of 741.5...

  • SAO PAULO, Feb 22- Brazil's Braskem SA is trimming investments this year as it winds down spending on a new plant in Mexico and cuts back strategic new projects after a bribery settlement hammered earnings last year, according to a Wednesday securities filing. Latin America's largest petrochemical company plans to invest 1.814 billion reais in 2017, down from...

  • *Freeport may take Indonesia to arbitration on Grasberg. A higher U.S. currency makes dollar-denominated metals such as copper more expensive for non-U.S. firms, potentially weakening demand, although nervousness over supplies from top producers Chile and Indonesia are expected to support it. "It's all about the disruptions in Chile and Indonesia, but we...

  • DOWNERS GROVE, Ill. _ Univar Inc. on Wednesday reported a loss of $59.2 million in its fourth quarter. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Univar shares have increased slightly more than 4 percent since the beginning of the year.

  • GREENWOOD VILLAGE, Colo. _ Newmont Mining Corp. on Tuesday reported a loss of $344 million in its fourth quarter. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share. Three analysts surveyed by Zacks expected $1.81 billion.

  • LAUNCESTON, Australia, Feb 22- Something is not quite adding up in China's iron and steel markets, with the reasons for the current rally in prices for both commodities jarring uncomfortably with actual data. Iron ore futures on the Dalian Commodity Exchange on Tuesday hit the highest since the contract was launched in 2013, reaching an intraday peak of 741.5...

  • *Escondida, Grasberg outages offer support. SYDNEY, Feb 22- Copper prices slipped on Wednesday as some traders took profits and reduced their positions ahead of the release of U.S. Output is shut because of a strike at Chile's Escondida mine, the world's largest.

  • Fortescue is lowest cost iron ore producer in world: CEO

    Nev Power, CEO of Fortescue Metals, talks about how the company is on track on its $12-13 per tonne cost target.

  • SYDNEY, Feb 22- Copper steadied in early trading on Wednesday, after slipping overnight, as a weaker U.S. dollar limited profit taking. *Three-month copper on the London Metal Exchange was flat at $6,060 a tonne by 0100 GMT after dropping 0.2 percent the previous session. *The most-traded copper contract on the Shanghai Futures Exchange dipped 0.2 percent to...

  • BHP Billiton results were 'outstanding': Expert

    Ben Clark of TMS Capital addresses the dip in BHP Billiton's share price despite the company having turned the corner.

  • CALGARY, Alberta, Feb 21- ConocoPhillips Corp has revised down over a billion barrels of oil sands reserves because of low global crude prices, a company filing showed on Tuesday, the latest sign that some of Canada's vast hydrocarbon potential may be left untapped. Likewise Martin King, an analyst with GMP FirstEnergy in Calgary, said the debooking likely had...

  • SYDNEY, Feb 22- Fed up with unpredictable and often exorbitant electricity prices, Sun Metals CEO Yun Birm Choi plans to invest A $183 million to build a massive solar farm to power his zinc refinery in the Australian outback. The decision by Sun Metals, owned by Korea Zinc Co, to turn to solar comes as Australia grapples with more frequent power failures and...

  • Newmont's all-in sustaining costs, the gold industry cost benchmark, fell to $918 an ounce in the three months ended Dec. 31, from $1,036 an ounce a year earlier. Net loss attributable to stockholders from continuing operations widened to $391 million, or 73 cents per share, from $276 million, or 54 cents per share, a year earlier. The company recorded a $970 million...

  • CALGARY, Alberta, Feb 21- ConocoPhillips Corp has revised down over a billion barrels of oil sands reserves because of low global crude prices, a company filing showed on Tuesday, the latest sign that some of Canada's vast hydrocarbon potential may be left untapped. Likewise Martin King, an analyst with GMP FirstEnergy in Calgary, said the debooking likely had...

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