July 2003

Government minister confirms sale of Zestafoni

The Georgian Minster for Economics, Industry and Trade, Georgi Gachechiladze, today confirmed that the government is in the process of closing a deal with Austria's DCM over the sale of the controlling stake in the Zestafoni ferro-alloys plant.

Sandvik invests Skr14m in niche stainless flat wire

Sandvik Materials Technology has commissioned a new rolling mill for stainless steel flat wire – “a Sandvik speciality produced as an alternative to narrow strip”, the Swedish company said.

Ferro-silicon prices stabilise

Ferro-silicon prices in Europe have fallen 10 percent going into the third quarter, with more material reported in the hands of traders.

Umicor and Arcelor launch joint venture [UPDATE 2]

After months of speculation Belgian base metals company Umicore and steel producer Arcelor have finally merged their trading operations to form a new joint venture named Traxys.

Speculation mounts on DCM Georgian acquisition

Speculation is mounting that Austrian trading house DCM has bought the Zestafoni ferro-alloys plant in Georgia.

MMTC signs contracts for 15.3 million tonnes of ore

India’s state-owned Minerals & Metals Trading Corp. (MMTC) has signed contracts with Japan, South Korea and China to supply 15.3 million tonnes of iron ore in 2003-04, MMTC chairman S.D. Kapoor said

Polymetal considers $60m ferro-chrome investment

Russia's Polymetal Inter-Regional Research and Production Association has announced that it will take the final decision on a $60 million ferro-chrome investment programme by the end of the year.

SA Chrome hopes to forge ahead despite loss

SA Chrome is hoping its 100 million-euro smelter project will go ahead, despite announcing net losses for the year ending March 2003 of R147 million.

Stelax to restart in second week of July

Stelax industries, the UK-based stainless clad rebar manufacturer, has confirmed that it expects to start production at its South Wales site as early as the second week of July.

Ferro-chrome producers break ranks

As third-quarter ferro-chrome negotiations drag on into July, it is emerging that Samancor may be prepared to settle for 1 cent less than its South African counterpart Xstrata which is still holding out for an increase of 8 cents a pound.