The association the represents the employers within the German metal and electrical industry has criticised recent plans to reduce taxes and social levies.
Chinese Steel Industry Profits Up
Recent data released by the National Development and Reform Commission has indicated that profits in the Chinese steel industry have risen by 14.4% in the first five months of the year, when compared to the same point last year.
Former Jamaican Minister Disappointed
The former Jamaican Minister of Industry, Investment and Commerce Karl Samuda has stated that he is disappointed with a recent government decision to impose a ban on scrap metal imports in the country, claiming that the ban undoes all of the work that he put into the industry when he took office in 2007.
Doubts Raised Over Chinese Steel Output
A recent report has claimed that Chine is under-reporting the amount of steel it makes by about 40 million tonnes per year in an attempt to drive up prices and then sell the surplus to increase profits from their steel exports.
Nisshin Steel Stock Surges
Nisshin Steel Co., who are Japan’s third largest stainless steel maker, saw their stock surge on the Tokyo stock exchange after rumours began circulating that they are to merge with Nippon Metal Industry.
South African Strike Continues
The negotiations between the SEIFSA and Numsa over the pay conditions for South African metal industry workers have stalled once again, all but guaranteeing that strike action will continue for quite some time. A recent meeting between the two parties over the weekend, which was aimed at exploring all possible options to bring the wage dispute to an end, resulted … Read More
WTO Find Chinese Metal Export Violations
The World Trade Organisation (WTO) has released a panel report that has found that a number of Chinese export restrictions, specifically on raw materials like metals, violate the rules put in place by the WTO.
Steel Producer of the Year
Steel Dynamics Inc has recently been named the “Steel Producer of the Year” at the second annual American Metal Market’s Awards for Steel Excellence in New York City.
Metal Workers Joined In Strike
South African energy industry workers, including oil workers on refineries run by companies including Chevron Corp, Royal Dutch Shell and Sasol Ltd have joined workers in the metal industry in a strike to demand higher pay. Gold miners have also threatened to walk out over pay concerns.
Zambian Government Offers Incentives
The Zambian Government has announced that it will be providing incentives to the country’s metal and steel industries in an attempt to protect both industries from foreign competition.