December 2002

Marco in Globe tolling deal as it nabs assets

Marco International Inc. emerged the high bidder at an auction Monday for many of the assets of silicon producer Globe Metallurgical Inc., the Cleveland-based company plagued by low metals prices for much of the year. Marco has also entered into a toll-processing agreement with Globe.

Globe Metallurgical sells inventory

US silicon producer Globe Metallurgical is to sell off some of its collateral during a public auction scheduled for December 30.

Nippon Steel and SMI announce stainless integration

The future shape of Japan's stainless steel sector became marginally clearer today when Nippon Steel and Sumitomo Metal Industries announced the signing of a basic agreement to create a new joint venture under which most of their stainless operations will be integrated

Kachkanarsky receives awarded for energy saving

The Kachkanarsky vanadium mine has received an award for conserving energy.

Committee created to tackle issues in Russian metals sector

The Russian Chamber of Commerce is to create a Metallurgy Committee to tackle problems and issues facing he country's metals industry.

Smuggling increases with Chinese stainless safeguards

The tightening effect of China's safeguard measures on imports of stainless CR sheet has led to a resurgence of smuggling, according to local sources.

Nippon, SMI seek to advance stainless joint venture

The management structure, equity ratio and facility balance in the new integrated stainless steel company being formed by Nippon Steel and Sumitomo Metal Industries (SMI) could be clarified as early as next week.

Ferro-vanadium prices in the US get a boost

U.S. ferrovanadium prices are beginning to heat up in step with market tightness following an upswing in prices in Europe as the market scrambles for metal.

ITC rules ferro-vanadium imports hurting producers

The U.S. International Trade Commission voted 5-0 Thursday that dumped imports of ferrovanadium from China and South Africa caused, or threatened to cause, material injury to the domestic industry.

Orkla to sell some Elkem shares to avoid bid

Norwegian consumer goods and investment company Orkla ASA intends to sell about 100 shares in Elkem ASA to avoid having to make a mandatory bid for all outstanding shares in the aluminum and silicon producer.