August 2003

BHP Billiton earnings rise, but takes hit from dollar

BHP Billiton benefitted from higher commodity prices and strong demand from China to achieve a 12.2 percent increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to $5.12 billion for the year ended June 30, compared to $4.69 billion a year earlier.

Chinese FeMo market sees higher prices again

Ferro-molybdenum offers out of China have continued to firm, spurred on by the impact of the raw material supply crunch and reduced availability of material in the physical market.

South Africa Japan Vanadium makes first shipment

South Africa Japan Vanadium is making its inaugural shipment of ferro-vanadium to Japan this week, but any celebrations at venture-partner Nippon Denko will be tempered by the fact that the consignment’s arrival will mean the end of ferro-vanadium production at the company’s Hokuriku plant in Japan.

Indian producer plans more ferro-chrome capacity

India’s Visa Industries is planning to construct two 16.5MVA submerged arc electric furnaces to produce around 50,000 tpy of high carbon ferro-chrome.

Posco raises stainless coils price

Posco is raising its domestic prices of both hot-rolled and cold-rolled stainless coils by between 52,000 and 111,000 won per tonne in response to climbing world prices of nickel and chrome

Steelmakers concede ore price hike from BHP Billiton

Nippon Steel and its affiliate Nippon Denko have conceded a 7 percent price increase from BHP Billiton for manganese ore for the current fiscal year ending next March, reversing the near 7 percent cut the Japanese managed to squeeze from the miners last year.

CIT asks review of Indian stainless bar case

The U.S. Court of International Trade (CIT) has asked the U.S. Commerce Department to reconsider a ruling on imports of stainless steel bar from India and possibly revise the dumping margins on those imports.

Eramet takes control at tungsten powder producer

Eramet has become the sole owner of Eurotungstene Poudres after acquiring an additional 49 percent stake from Sweden’s Sandvik.

Noble alloys continue to rally

Noble alloys continue to rally on a shortage of supplies in an otherwise quiet European market, traders report.

Ontario carmakers on slow road to full output

Automakers and other manufacturers in Ontario continued to operate on limited production schedules Wednesday and said they expect to struggle with production until at least the weekend, more than a week after the Blackout of 2003.