Scrap metal dealers have pointed out that soaring commodity prices, such as the steep rise in the value of copper, are bringing new challenges to an industry which is currently worth $2 billion per year to the New Zealand economy.
Japanese Steel merger welcomed
Steel manufacturers have been generally welcoming of the merger between Japanese steel works companies Nippon Steel and Sumitomo Metal Industries Ltd. They believe that the merger will help to improve competitiveness in the market whilst also setting a path for survival amid the rising strength of overseas rivals.
Bahrain to Become New Hub
Siemens has announced that it is looking to invest millions into Bahrain in an attempt to set up a Middle Eastern hub for both regional and global metal producers.
New Investors Linked to Russia
The Titanium Valley in Russia is looking to attract further investors and companies after the Okuma Corporation from Japan announced that they will be building a machine tool factory in what is considered a special economic zone in the Russian Urals.
Nippon Steel Merger With Sumitomo Metal
Japan’s largest steel maker, Nippon Steel, have announced that they will be merging with the rival Sumitomo Metal Industries in 2012.
Rise In Estonia Price Index
Estonia have announced a rise in their producer price index of industrial output of 5.4% when compared to December 2009. The price increases have been mostly put down to metal pressing and other metal industries in the country.
Zambia Welcomes US Investment
Most of the stakeholders in Zambia’s metal mining sector have welcomed a planned $1 billion investment from US backers for a new copper mine in the country’s North-Western Province. They claim this will also allay concerns that the mining companies are getting more profits.
Steel Prices Set To Rise
A recent report has revealed that Steel prices are set to soar by about 60% over the coming year, which may provide a boost for some firms in Birmingham and the Black Country, but may also contribute in a rise in metal thefts in the area.
Potential to Replace Rare Metals
The rare earth and lithium metal markets in China and South America are bracing themselves for the impact of cvarious industries looking into ways of replacing the rare metals they supply in their products.
Lobbyists Want Financial Incentives
India’s main metal container lobbying group, the Metal Container Manufactures Association, has demanded that the Indian government provide them with some form of financial incentive to further promote the use of eco-friendly packaging.