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DuPont Reaffirms Outlook for Titanium Dioxide, Sees Strong Demand Over Ore

By Victoria Stilwell DuPont Co. (DD) reaffirmed its full-year and long-term outlook for titanium dioxide amid recent fears about weak demand in the pigment industry for the second half of the year. DuPont--the bigger maker of the pigment and one of the best leading indicators of broader industrial production--said it expects demand for titanium dioxide to be stronger than that of ore, partially due to changes in inventory levels. The company said recent comments regarding market demand "overstate the softness in the pigment industry." The company plans to offer additional perspective when it reports second-quarter earnings on July 24. Australian rival Iluka Resources Ltd. (ILU.AX) earlier this week cut its full-year sales volume outlook for titanium dioxide, a key pigment used to make paints, a move that pressured stocks across the sector. The company also said it is reviewing its spending plans and considering further cutbacks to output to deal with slowing demand and a subsequent inventory buildup. Meanwhile, Jefferies earlier this month cut its 2012 and 2013 views and downgraded DuPont to hold to reflect a weaker demand outlook in Europe and "incremental deterioration" in the titanium-dioxide space. The investment bank said price increases were stalling earlier than expected. DuPont in April reported its first-quarter profit rose 4% as the company benefited from higher pricing and a jump in sales of agricultural products, as well as strong growth in developing markets. Shares rose 1.6% to $48.22 in recent trading after sliding 2.9% Monday. The stock is down 5.6% over the past three months. Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com

Stock News for Du Pont E I De Nem (DD)
DateTimeHeadline
01/27/201513:27:34DuPont Warns of Currency Headwinds -- 3rd Update
01/27/201513:12:29Procter & Gamble's Revenue Declines on Currency Hits -- Update
01/27/201513:07:58DuPont Warns of Currency Headwinds -- 2nd Update
01/27/201513:02:22DuPont Warns of Currency Headwinds -- Update
01/27/201513:02:07DuPont Warns of Currency Headwinds
01/26/201515:32:10Proxy Battle Puts Focus on DuPont Earnings
01/22/201519:45:10Icahn Stirs Activist Pot on Possible Takeovers
01/12/201519:20:44DuPont to Sell Theater Business After Trian Criticism -- Update
01/12/201519:16:06DuPont to Sell Theater Business Amid Criticism From Activists
01/09/201516:48:09U.S. Stocks Slide, Capping Rocky Week
01/09/201516:45:53Peltz Targets DuPont Spinoff's Governance
01/09/201516:45:41U.S. Stocks Fall Despite Stronger-Than-Expected Jobs Report
01/09/201516:41:13U.S. Stocks Extend Losses
01/09/201516:38:54U.S. Stocks Slide
01/09/201516:32:39U.S. Stock Futures Rise After Strong Jobs Report
01/08/201521:08:11Trian Seeks Four Seats on DuPont's Board--2nd update
01/08/201519:41:09Trian Seeks Four Seats on DuPont's Board--update
12/18/201418:07:21DuPont Names Planned Performance Chemicals Spinoff
12/04/201400:00:03Barington Wants Omnova to Break Up
12/03/201423:57:07Correction to Barington Wants Omnova to Break Up Story

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