The Japanese based steelmaker JFE Holdings Inc. have announced that they will make a loss for the fourth quarter of the year as Japan’s steel makers continue to reel from the effects of the disasters that have plagued the country in recent months.
Zambian Copper Output Likely to Rise
The Zambia Development Agency has claimed that the country’s copper output is liekly to rise over the next year, with the eventual outturn being 17% higher than the current figure.
Copper Prices Fall
The price of Copper has continued to plummet in New York due to increased production from China. Chinese production of the metal has climbed to record levels amid concerns that the government will tighten credit and slow the growth of the metal industry in the country.
Turkish Steel Increases Production
Platts.com are reporting that the Turkish steel industry is set to see an increase in production between now and 2015. According to Colakogulu Metalurji’s CEO Ugur Dalbeler Turkey’s electric arc furnaces are now diversifying from their main productions of reinforcing bar, wire rod and billet products into other areas of steel production.
Sumitomo Announce £445 million Charge
The Sumitomo Metal Industry coporation, which is Japan’s third largest steelmaker, has announced that it will suffer a £445 million loss for the year ending March 31st, due in large part to the devestating earthquake and tsunami that struck the country.
First Reserve to Purchase Metallum Group
First Reserve have announced that they have purchased the metal recycling and refining firm Matallum Group as they look to expand their operations further into natural and energy resources industries.
South Africans Want Pay Rise
South Africa’s National Union of Metalworkers have announced that they are seeking a 20% pay rise along with other benefits as they try to improve the state of the metal industry in the country and improve worker conditions.
British Transport Police on Task
The British Transport Police have set up a large scale operation over a large amount of the country’s railway lines in an attempt to catch thieves who are stealing power cables and copper signal to take advantage of the increasing demand for the metals.
Stolen Scrap Metal Recovered
Stolen sheets of scrap metal that had a value of around £75,000 have been recovered by police from a Black Country scrapyard after a recent raid. The officers also discovered beer kegs and copper cables which may have been stolen.
MPs, Steel Companies Rally Against Carbon
Tata Steel’s campaign to have the Carbon Floor Price, which was introduced in the recent budget, eradicated is beginning to find some support in Parliament as politicians express concern over the possibility that it may lead to metal pressworks companies exiting the UK market completely.