News

The US metal industry may be facing a tough couple of months after the Occupational Safety and Health Administration (OSHA) announced that it would be getting tough on companies that failed to comply to its health and safety standards

The Jamaican Industry, Investment and Commerce Minister, De Christopher Tufton, has called for a meeting of scrap metal dealers in Jamaica in an attempt to end the issues which have been plaguing the industry and causing it to contribute to over $1 billion worth of losses due to metal theft.

Great China Metal industry, who are one of Taiwan’s largest manufacturers of metal packaging for food and beverages, has announced that it will be investing around £15.5 million in a new production line that will see an increase in its metal products over the coming years.

The construction industry in Sri Lanka is being placed in jeopardy due to the amount of poor quality steel being used according to a report by industry experts. They claim that the influx of sub-standard steel comes from a steel mafia looking for profit over quality.

Schnitzer Steel Industries have been named as the Scrap Company of the Year by the American Metal Market trade group. The steel company have gained recognition for their quality recycling program and picked up the award at the AMM’s second annual Awards for Steel Excellence.

The London Metal Exchange has approved Ravenna as a new point of goods delivery for non-domestic Steel Billet. When the approval comes into effect in September it will result in an increased steel delivery to Italy as the Italian port will enable further warehousing and delivery across Europe.

A group of Chinese metal industry experts have announced that they believe that the world’s supply of rare earth metals and minerals will likely outstrips demand in around half a decade’s time, thus ending the reliance on Chinese exports and potentially harming the country’s economy.

Supply has finally caught up, and subsequently exceeded, demand in the Nickel market. This is likely to lead to the metal losing much of the value that it gained back in 2005 when Nickel mines were struggling to produce the supply to meet the rapidly rising demands of the Chinese market.

A recent report has suggested that European stainless steel producers look set to see a drop in profits as their clients look to work from pre-existing stock rather than purchase new steel.

Nippon Steel Corp and Sumitomo Metal Industries Ltd have announced that they will be seeking a way to combine themselves under a single legal framework that has been designed to enable their proposed merger by making merger screenings faster and more transparent.