April 2003

Elkem says aluminium market remains weak

Norwegian aluminium and ferro-alloys producer Elkem has stressed that its markets remain weak and the outlook uncertain as its aluminium division reported a slight increase in operational income.

Chinese special bar mill enters production

China’s Shandong Molong Group is to make its entry into special steel production with the commissioning of a new steelworks on a greenfield site in Shouguang, Shandong province.

Gunawan takes hot strip expansion to China

The expanding Chinese market has breathed new life into the Gunawan group’s long-awaited plan to install a hot strip mill.

Stratcor plant hit by Venezuela shipping delays

Strategic Minerals Corp. (Stratcor) has lowered its 2003 vanadium production estimate for its Hot Springs, Ark., plant, citing delays in supplies shipped from Venezuela.

Trahar gives mixed outlook for rest of Anglo's year

Anglo American chief executive Tony Trahar has said the group's outlook for the rest of 2003 is mixed, and that it is unlikely to match its 2002 performance.

McKenzie Bay buying Soquem's Lac Dore stake

Canada's McKenzie Bay Resources Ltd. has acquired from Soquem Inc. the 20-percent stake it didn't already own in the Lac Dore vanadium-titanium project.

Moly prices climb in Europe

Molybdenum prices in European have climbed over the last week on renewed supply tightness and higher raw material costs.

Ferro-alloy producers oppose Indian privatisation

Indian ferro-alloy producers are strongly opposing the privatisation of Manganese Ore India Ltd (MOIL), and warn that creating a private sector monopoly will drive up prices and kill the country's ferro-alloy industry.

Glencore gets $3.5bn credit facility

Glencore International has mandated seven banks to arrange a $3.5bn revolving credit facility.

Nippon Steel concedes ferro-chrome price hike

After initial resistance, Nippon Steel has followed its European counterparts and agreed a 7 cents per lb increase with South African suppliers for ferro-chrome prices in the current April-June quarter.