April 2014

Stainless steel grade-304 EU raw materials index up $100

Steel First’s raw materials index for grade-304 European stainless steel surged by $99.94 on Monday April 28.

Cunico's Mayaniquel deal fits its growth strategy

Cunico Resources’ acquisition of the Mayaniquel project in Guatemala fits the company’s strategy of maintaining its position as a fully integrated ferro-nickel producer and targeting assets in emerging economies, it said.

EU stainless sheet base prices up $14 on demand, nickel increases

Domestic prices for 304 and 316 cold-rolled stainless sheet increased by €10 ($14) this week, on the back of better demand and improved sentiment, market sources told Steel First on Friday April 25.

Posco’s net profit hit by tax payment in South Korea

South Korean largest steelmaker Posco reported a major drop in its 2014 first quarter earnings mainly due to tax payments totalling 190 billion Won ($182.6 million).

East Asian stainless prices rise further on strong nickel; sales slow

East Asian stainless steel prices rose again this week on costlier raw materials, while sales remained sluggish as buyers resisted the higher levels.

JFE Holding's operating income up 285% on higher steel demand

Japan’s JFE Holdings saw its operating income nearly triple on the year in the twelve months ending March 31 on the back of a robust domestic demand for steel and cost reduction efforts, it said on Thursday April 24.

Anglo American’s nickel output up 48% in Q1

Anglo American’s nickel output was up 48% year-on-year in the first quarter of 2014, it announced on Thursday April 24.