August 2003

Chinese FeMo prices make further gains

Ferro-molybdenum offers out of China have gained another few cents this week thanks to a shortage of concentrates.

Iscor reports record profits as Saldanha performs

Iscor has recorded its biggest profit ever in the full year to the end of June with headline earnings climbing to R2.48 billion from R480 million in the previous fiscal year

Interpipe increases stake in Nikopol

Interpipe has increased its stake in Ukraine's Nikopol ferro-alloy plant to 76 percent with the purchase of the Ukrainian government's remaining 25 percent stake for around $40m.

PCC inks $729M deal to buy SPS Technologies

Precision Castparts Corp. (PCC) executives estimate annual cost savings, including those on purchases of titanium and nickel alloys, of between $30 million and $35 million as a result of the Portland, Ore.,-based company's planned purchase of SPS Technologies Inc.

Universal scores birdy as blackout misses plant

Thursday was Customer Appreciation Day for Universal Stainless & Alloy Products Inc.'s Dunkirk (N.Y.) Specialty Steel facility.

Noble Group posts 22-percent profit increase

Noble Group, the Hong Kong-based commodities trading house, raised net profit 22 percent year-on-year to US$19.3 million in first-half 2003.

Taiwanese stainless suppliers aim for higher prices

Taiwanese stainless flat rolled offers into mainland China have shown signs of recovery following a period of inactivity and low demand.

European FeMo prices rise while FeV stabilises

European ferro-molybdenum prices have continued their summer rally with Western-grade material now firmly in a range of $14.00-14.50 per kg, up from a range of $13.70-14.00 earlier this week.

Nissho Iwai lifts stake in Czech FeV venture

Nissho Iwai has quietly concluded a deal with its Japanese partners in Czech ferro-vanadium venture Nikom AS to lift its 30-percent stake to 50 percent and equal to Kovohute Mnisek’s.

Chinese ferro-moly prices move upward

The upturn in Chinese ferro-molybdenum prices has been largely attributed to tighter supplies of moly concentrates.