April 2001

Price and consumption slump hit Acerinox Q1 profits

Lower prices for stainless steel and a fall in apparent consumption in Europe cut Acerinox first quarter net profit 76% to 20m euros and sales by 2% to 491m euros, the company reported.

AvestaPolarit raises quarto plate prices

AvestaPolarit says it will increase base prices of stainless quarto plate by 3-5% with immediate effect on all new orders.

Elkem reports Q1 results

Elkem's aluminium business, 50% owned by Alcoa, reported an improvement in results in the first quarter, offset by a hedging loss. Other divisions performed less well.

Elkem to close FeSi furnace, takes writedown on FeCr

Norwegian producer Elkem said today it will close one ferro-silicon furnace at its Salten works in resonse to the difficult market situation.

Anglo analyses Brazilian FeNi project

Anglo American last week completed its feasibility study into setting up a nickel mine and FeNi plant at Barro Alto in Brazil.

Shanghai No 5 to begin stainless wire rod production

Shanghai No 5 Steel Co, a subsidiary of China’s Baosteel group, is planning to launch production of stainless wire rod as part of a proposed modernisation project.

Comilog idles Italian SiMn furnace

Comilog's silico-manganese furnace in Cairo Montenotte, near Genoa in Italy, is to be idled at the end of May.

Moly prices see some firmness in Europe

European molybdenum prices are displaying a small degree of firmness again after a generally lacklustre period that has lasted since late February.

High-speed markets softening, say top mills

Markets for high-speed steel have softened in the second quarter, says Erasteel, the world’s top producer.

Mills win push for higher stainless prices

Efforts by Europe’s largest stainless steelmakers to push up prices in the second quarter are succeeding, say traders across Europe.