News

The aluminium industry in Australia is increasingly finding itself in crisis after Norsk Hydro announced a round of 150 redundancies at their Kurri Kurri smelting plant. Additionally Tomago Aluminium have announced a major restructuring that will cost the plant at least 100 jobs.

Police have announced the seizure of 1,000 stainless steel beer kegs that were believed to have a scrap metal value of £100,000. The kegs have apparently been seized from a group of thieves who are specifically targeting the brewing industry.

The London Metal Exchange has announced that it has received a number of bids tat they will be considering during an upcoming board meeting in February, according to Chief Executive Martin Abbott.

The European steel producers lobby Eurofer has announced that it has filed an anti-subsidy complaint against the Chinese in relation to their state support for exports of organic-coated steel (OCS) to Europe, which the group claims it hurting the shrinking EU sector.

The eighth edition of SteelFab is under way at the moment, with investors hoping that up to $2 trillion worth of infrastructure projects that could be presented at the expo will help the economies of the Middle Eastern and African regions.

Schnitzer Steel Industries Inc’s (SCHN) profit during the course of the first-quarter has dropped by a remarkable 61%, with the metal-recycling company placing the blame on a slowdown in demand for their products as the European debt crisis leads to the market tightening.

Copper prices fell last week after a previous rally that had provided false hope that they may be on the rebound. Concerns about the euro zone debt and its overall effect on the market are believed to have eroded confidence in the metal, leading to many forecasting a dismal outlook for other metals as well.

Nirmal Bang has recently released its report in the state of the precious metals market, claiming that precious metals are expected to trade lower during 2012 amidst concerns about economic growth and sovereign debt.

The rail industry has announced that it will be stepping up a campaign that will see them attempt to capture scrap metal thieves. Network Rail will partner up with a number of counterparts in an effort to urge Brussels to introduce regulations for scrap metal dealers that they hope will curb the thefts.

The world’s top tin exporter, Indonesia, are likely to ship as much as 5,000 tonnes of the metal during the month of December, bringing their total exports up to around 86,000 tonnes for the calendar year. Smelters in Indonesia’s main tin-producing region of Bangka island stopped tin ingot shipments from Oct. 1 as they look to boost the price of … Read More