October 2003

LNM to invest $600 million in PHS

Total investments into equipment at Polskie Huty Stali (PHS) by LNM are expected to total 2.4 billion zlotys ($600 million)

Sail and Tata report return to strength in first half

Steel Authority of India Ltd (Sail) and Tata Iron and Steel Company (Tisco) who between them accounted for nearly 50 percent of the steel production in India in the April-September period have seen a sharp rise in net profit, production and exports.

Liaoning Special Steel claims top maker rank with acquisition

Liaoning Special Steel Group Co is claiming the title of China’s largest special steel producer following the acquisition of state-owned Beiman Special Steel, located in Qiqihaer city in the northeastern province of Heilongjiang

Sandvik Q3 profit up despite currency movements

Sandvik reported an 8 percent increase in operating profit for the third quarter of 2003 compared to the corresponding quarter last year.

Moly output hinges on copper recovery, says report

Molybdenum prices have been boosted in 2002 and 2003 by a reduction in supply due to cuts in copper mining, and a new report says that global supply over the next 2-3 years could remain below 140,000 tonnes, creating a supply deficit and maintain support for moly prices.

Outokumpu “cautiously optimistic” on stainless

Outokumpu is “cautiously optimistic” about the stainless steel market for the rest of 2003 and next year, president coil products Karri Kaitue said.

BHP Billiton hit by strong Australian dollar and rand

The strong Australian dollar and South African Rand forced BHP Billiton’s profit for the September quarter down 9.4 percent to US$518 million compared to the same quarter a year earlier, despite increased sales across most of its products.

Chinese tungsten market needs control, says Roskill

The tungsten market is in a precarious position due to its almost total reliance on supplies from China, according to a new report.

Chinese ferro-moly prices recover

Ferro-molybdenum offers out of China have made a small recovery following a two-week slump in prices.

Chinese moly producer acquires mine in Henan

China's Xuzhou Huanyu Special Alloy Co has taken its first step to expand upstream by acquiring a state-owned molybdenum mine in Henan province in central China.