December 2003

EU raises import quota for Russian boron steels

Russia and Brussels have agreed to a rise in the European Union import quota for steels containing boron. The agreement was reached on December 26 as an amendment to the earlier quotas, which were set on July 9 2002, said the Economic Development and Trade Ministry in Moscow (MB July 15).

Haynes posts $63M loss, plans restructuring

Haynes International Inc., the Kokomo, Ind.,-based high-performance alloys producer, said it hopes to strengthen its balance sheet through a restructuring that is required because sufficient doubts have emerged as to its ability to remain in operation.

Outokumpu takes full ownership of Neumayer

Outukumpu has signed an agreement to buy the remaining 50 percent ownership in copper wire producer Neumayer GmbH.

European and East Asian ferro-vanadium continues to rise

Ferro-vanadium prices are probing the $15 per tonne mark in the final days of an active December as supplier shortages start to bite.

Labor unrest at Shieldalloy lifts ferrovanadium

Ferrovanadium prices have jumped well above $6 a pound in the past two weeks as the continuing labor dispute at the Cambridge, Ohio, operations of Shieldalloy Metallurgical Corp. has increased supply concerns in an already tight market.

Böhler-Uddeholm to buy Villares Metals

Austrian tool steel maker Böhler-Uddeholm has announced it is involved in firm negotiations to purchase Brazil's Villares Metals, a wholly-owned subsidiary of Aços Villares, which is 58.44 percent owned by Spain's Sidenor group.

Stelax ships first clad bars after restart

Stelax Industries said its facility in South Wales made its first shipment of Nuovinox load transfer dowels since acquisition of the UK assets and the plant's recommissioning

NTN plans bearing joint ventures in China

NTN Corp, one of Japan’s largest bearing manufacturers, has concluded a basic agreement with China’s Luoyang Bearing Corp (LYC) to establish several joint ventures to produce bearings for transportation and industrial machinery applications

J&W Holding completes Zambian copper-cobalt mine deal

Johannesburg - Swiss-based J&W Holding has sealed its purchase of the Zambian Buluba and Luanshya copper-cobalt mines.

Hitachi Metals-Sumitomo Special Metals tie-up

More of what used to be the expansive empire of steelmaker Sumitomo Metal Industries will disappear forever next April when special steelmaker Hitachi Metals takes control of Sumitomo Special Metals Co (SSMC)