__________________________________________________________
JANUARY 2012
__________________________________________________________ |
Outokumpu Board of Directors has today approved the proposed combination of Outokumpu with Inoxum, the stainless steel unit of ThyssenKrupp. Transformational deal structured to unlock significant value through a step-change in the combined entity's operational efficiency. The combination is structured to create significant annual cost synergies of EUR225-250 million on an annual basis by 2017, at the latest, of which 45% are expected to be achieved by end of 2014 and 70% by end of 2015
___________________________________________________________ |
Merafe says FY profit to fall
South African ferrochrome producer Merafe Resources is set to report lower profit when it publishes its 2011 financial results on March 6.
The company, which operates in a joint venture (JV) with Xstrata, said on Wednesday its headline earnings a share would be between 6c and 7c for the year ended December 31, compared with 11c in the comparative period.
Basic earnings a share would be between 5c and 6c, down from 11c in 2010.
__________________________________________________________
|
Acerinox wins prize to trajectory of Internationalization of the Spanish Company
Acerinox has been awarded the prize to the trajectory of internationalization of the Spanish company which gives the Circulo de Empresarios, chaired by Mr Claudio Boada.
His Royal Highness, Prince of Asturias Mr Felipe de Borbon presented the prize to Acerinox chairman, Mr Rafael Naranjo.
The ceremony took place in the presentation of 2011 year book by the Circulo de Empresarios and Wharton School, on the Spanish Enterprise Internationalization, which gathers the main business operations of the Spanish Companies abroad, according to the survey carried out among the Circulo members.
_________________________________________________________ |
World stainless steel output up three percent in Q3 2011
According to the preliminary figures released by the International Stainless Steel Forum (ISSF), global stainless crude steel production increased in the third quarter of 2011 by 3.1 percent year on year to 7.73 million metric tons, reaching a new all-time high for a third quarter. All major regions showed production increases in the third quarter of 2011 compared to the year-ago quarter, except western Europe and Africa.
__________________________________________________________
|
| ISSF launches 100 Years of Stainless Steel website to celebrate a century of innovation
ISSF has published a media release titled International Stainless Steel Forum aunches 100 Years of Stainless Steel website to celebrate a century of innovation.
The global stainless steel community marking a century since stainless steels were first created, patented and produced. Over that time, stainless steel has grown to be an integral part of our modern world. To celebrate the anniversaries, the International Stainless Steel Forum has launched this website www.stainlesssteelcentenary.info dedicated to the history of stainless steel and its innovative applications.
___________________________________________________________ |
EU average alloy surcharge for CR stainless sheets remain flat for January 2012
It is reported that the major stainless steel producers have remained alloy surcharge unchanged for 304 grade cold rolled stainless steel sheet with thickness of 2mm for January 2012.
The average alloy surcharge for CR stainless steel sheets in the European stainless steel mills including Acerinox, Aperam, Outokumpu and ThyssenKrupp remained flat at EUR 1,339 per tonne for January 2012. |
__________________________________________________________
DECEMBER 2011
__________________________________________________________ |
First coil rolls off Acerinox’s plant in Johor
KUALA LUMPUR: Spanish stainless steel producer Acerinox has commissioned the phase one of its joint venture Bahru Stainless factory in Johor early this month, with a total production capacity of 240,000 tonnes a year.
_________________________________________________________ |
|
3M Co has signed a five-year commercial pact with a relatively new stainless steel and aluminum distributor to create a stable of so-called disruptive products, including technology that could eliminate the need for paint on automobiles.
_________________________________________________________ |
| South African ferrochrome producers to polarize - TEX Report
Sustainability of world stainless steel production is undoubtedly based on stable supplies of ferrochrome of the South African producers. However, the ability of the producers to supply sufficient ferrochrome is questioned these days due to the restrictive factors for them to stably continue profitable operations.
__________________________________________________________ |
| Afrox appoints new MD
Industrial gases, welding and safety products group Afrox has appointed Brett Kimber as MD.
Kimber, who is currently the CEO of Linde Korea, would take over as CEO from January 1.
His appointment follows the resignation of MD and CEO Tjaart Kruger in June after a four-year tenure.
__________________________________________________________ |
| SA mining production falls 12.7%
South Africa’s mining production contracted sharply in October, falling by 12.7% year-on-year, data released by Statistics South Africa (Stats SA) showed on Thursday.
The decline comes on top of a revised 3.9% contraction in September, which the Nedbank Economic Unit said suggested that the impact of weaker global growth was filtering through to the domestic economy. |
| __________________________________________________________ |
NOVEMBER 2011
__________________________________________________________ |
High costs, low prices hit ferrochrome
South African ferrochrome makers are being squeezed by rising production costs, and some are already selling at a loss, the chief executive of Hernic Ferrochrome, a unit of Japan's Mitsubishi Corporation, told Reuters on Tuesday.
Prices of ferrochrome – a key ingredient for making stainless steel – have fallen in the past few months as stainless steel producers have been struggling with lower demand, weakened by a gloomier economic picture.
__________________________________________________________ |
| Q4 benchmark prices of S African charge chrome for Europe and Japan rolled over
TEX reported that the Q4 benchmark prices of South African charge chrome for Europe and Japan have both rolled over. Xstrata, one of the major South African producers, tried to gain USD 5 per pound in weeks long negotiations, but failed to persuade the consumers. It cannot be denied that the sudden and sharp depreciation of the resource-based currencies, such as South African Rand, in September was an indirect reason for the settlement.
___________________________________________________________ |
| Columbus Stainless sees SA stainless steel demand rebounding
It is reported that stainless steel supplier Columbus Stainless expects the total South African domestic market for stainless steel flat product to reach around 150000 tonnes in 2011.
The company will supply about 80% to 85% of the total, with the balance to come from imports. Almost half of this flat product is converted into fabricated products for export in the automotive, tank and engineering industries. Columbus states that while this might sound positive, it shows that there has been no growth in manufacturing in the general domestic market and, as a result, no growth in employment in this sector.
___________________________________________________________ |
OCTOBER 2011
__________________________________________________________ |
| Acerinox says stainless market recovery delayed
Reuters reported that Spain's Acerinox, which produces more than 10% of the world's stainless steel, said that a forecasted market recovery has not occurred and is not expected until the first quarter of 2012.
Acerinox had expected that the third quarter would be the weakest of the year and was betting on a recovery in the fourth quarter. But the company signaled that the fourth quarter would continue difficult.
It said that "The strength and competitiveness of the group will finish the year with a good global result, although the market recovery expected for the fourth quarter will be delayed due to the troubled euro zone."
__________________________________________________________
|
|
International Ferro Metals Ltd., a ferrochrome producer in South Africa, said fiscal first-quarter output slumped 26 percent from the previous three months after the temporary closing of a furnace in the period.
The furnace, at the Buffelsfontein plant 100 kilometers (62 miles) northwest of Johannesburg, returned to full production after the scheduled stoppage for roof upgrades, it said today in a statement. Output slid to 31,637 metric tons in the period.
__________________________________________________________ |
| Power supply security to hinge on growth outlook as Eskom warns of Medupi delay
The head of State-owned power utility Eskom finally acknowledged on Tuesday that the first unit of the 4 800 MW Medupi power station, which is being developed at a cost of some R125-billion in the Limpopo province, might not be introduced by the end of 2012 as currently scheduled.
__________________________________________________________ |
| Jindal Steel to build 2 640 MW plant in Mozambique
Mozambique gave the green light on Tuesday to India's Jindal Steel & Power to build a 2 640 MW coal-fired power plant in the northern province of Tete, home to some of the world's largest untapped coal reserves.
The energy ministry said the plant, estimated to cost $3-billion, would start operating in 2015. The power will be sold domestically and to the rest of southern Africa.
__________________________________________________________ |
|
PLANS to shift the construction of a ferrochrome smelter from Rustenburg to China was a blow not only to local beneficiation but also to jobs and economic growth, minerals company Tharisa, industry players and analysts said on Friday.
Tharisa said the reason for the change was that Eskom could not provide the plant with sufficient power until 2018.
___________________________________________________________
|
| Acerinox to reorganize industrial business in Spain
Acerinox SA shareholders have approved, by wide majority, in the shareholders meeting summoned to this effect, the reorganization of Acerinox Group through the incorporation of a new society, Acerinox Europa, which will include the activity of stainless steel manufacturing from Campo de Gibraltar Factory and the service centers located in Spain.
After this reorganization, Acerinox SA will have the management and coordination of the different Group activities, apart from holding Acerinox Europa shares and those from the rest of Group companies located in the five continents, which has placed the Group as a world leader in the sector.
__________________________________________________________ |
Half-year stainless steel output reaches all-time high
Global stainless steel production increased to an all-time high of 16.4-million tons in the first six months of the year, the International Stainless Steel Forum (ISSF) reported on Friday.
__________________________________________________________ |
SEPTEMBER 2011
__________________________________________________________ |
| KZN trade delegation visits Angola
A trade delegation from KwaZulu-Natal will visit Angola this week to explore new trade opportunities and develop key business linkages, provincial trade and investment promotion agency Trade & Investment KwaZulu-Natal (TIKZN) said on Monday.
___________________________________________________________ |
| NUM wants restrictions on chrome exports to China
South Africa’s National Union of Mineworkers (NUM) on Friday called for “urgent” restrictions on chrome exports, particularly to China.
The union’s national executive committee said in a statement that China was stockpiling chrome, mainly sourced from South Africa, to dictate future market prices. “This, the NUM believes is tantamount to colonisation of a special type.”
__________________________________________________________ |
| Indonesian coal export ban could benefit SA producers
A ban on the export of lower-quality coal in Indonesia, the world’s top thermal coal exporter, could open a window of opportunity for South African producers.
|
| __________________________________________________________ |
AUGUST 2011
__________________________________________________________ |
India and South Africa could soon decide to ban chrome ore exports to China.
According to Albanian Minerals president and CEO Mr Sahit Muja, China has been importing raw chromite ore from South Africa, Zimbabwe, Turkey, Albania and India at very low prices and using it to produce ferrochrome.
__________________________________________________________ |
TIKZN SIGNS MOU TO GROW FOREIGN DIRECT INVESTMENT THROUGH STAINLESS STEEL SECTOR
Trade & Investment KwaZulu-Natal (TIKZN) will be signing a Memorandum of Understanding (MOU) with Southern Africa Stainless Steel Development Association (SASSDA) on 16 August 2011 at the TIKZN offices.
In keeping with its mandate, Trade & Investment KwaZulu-Natal will not only aim to promote foreign direct investment into the province and assist local companies to access international markets but also aims to promote and highlight in particular, the growth of the stainless steel sector in KwaZulu-Natal.
__________________________________________________________ |
|
Resources, a partner in SA’s largest ferrochrome venture, warned yesterday of the disastrous consequences of SA’s proposed carbon tax on energy-intensive companies such as itself.
SA is the world’s largest supplier of ferrochrome, a key ingredient in the manufacture of stainless steel. Yet the potential carbon tax, which is mooted by the government and which the Treasury intends finalising as policy by mid-2012, could add 10% to costs, discouraging investment in the sector. This could put a cap on growth and result in SA missing out on further job creation.
___________________________________________________________ |
| Rising costs put SA ferrochrome producers under pressure – Merafe
JSE-listed Merafe Resources said on Tuesday that rising costs were making it increasingly difficult for South African ferrochrome producers to stay competitive.
CEO Stuart Elliot told Mining Weekly Online at the company’s results presentation in Johannesburg, that the South African mining industry was being pressured from “all sides”. Labour has been demanding wage increases above inflation for the past five years, while electricity prices also grew by 75% over the past three years.
__________________________________________________________ |
JULY 2011
__________________________________________________________ |
| Shutdowns and supply problems to lift nickel price in 2011
According to a Reuter's poll, refinery shutdowns and supply disruptions will lift the price of stainless steel material nickel by more than previously expected in 2011, but the ramp up of new mines and restart of others will boost supply and cap prices in 2012.
__________________________________________________________ |
Global ferrochrome prices may recover beginning in September
Reuters reported that ferrochrome prices are expected to recover beginning in September 2011 from a decline in the third quarter as high energy costs lead to a reduction in supply and as stainless steel users start restocking material.
__________________________________________________________ |
|
The Steel and Engineering Industries Federation of South Africa (Seifsa) signed a three-year wage agreement with six trade unions on Monday, but said that the National Employers Association of South Africa (Neasa) did not endorse the settlement agreement.
__________________________________________________________ |
Ferrochrome - Export duties would stifle investment
Investment in ferrochrome manufacturing could be stifled if government bows to pressure to impose duties on exports of raw chrome ore, industry sources warn.
This thinking can’t be considered in isolation: the loss of margin that would come with the introduction of export duties would add to the pressure on an industry faced with rising costs, as well as difficulties in securing capital and electrical power.
___________________________________________________________ |
| Seifsa ‘cautiously optimistic’ about wage negotiations
The Steel Engineering Industries Federation of South Africa (Seifsa) remained “cautiously optimistic” that an agreement could be reached to end the nationwide metals and engineering worker’s strike, Seifsa executive director David Carson said on Monday.
Seifsa and the National Union of Metalworkers South Africa (Numsa) met this past weekend to resume the deadlocked wage negotiations.
___________________________________________________________ |
Ferrochrome glitter fades
According to Ms Lara Smith ferrochrome expert of Core Consultants produces of stainless steel are now holding their breath as the world metals markets seems to be experiencing a slight slump and stocks of base metals pile up.
Ms Smith said that South African producers have cut production drastically for the third quarter of 2011. Electricity prices go up that time of year so production gets cut back Tata Steel at Richard’s Bay is cutting production down completely.
__________________________________________________________ |
| Ferrochrome prices set to fall in Q3
Reuters reported that the European contract price of high carbon ferrochrome is set to fall in the Q3 as demand from stainless steel makers took a dip in the last few months.
A ferrochrome trader said that “This is purely due to terrible demand from the stainless steel sector. Outokumpu is in the red, Acerinox is running at 40% to 50% of capacity they are consuming less ferrochrome so prices will fall at least by 0.15 per lb.”
__________________________________________________________ |
Strike causes new rebar supply uncertainties
The South African Reinforced Concrete Engineers Association (Sarcea) said on Friday that is members would be forced to import steel, as the five-day metal and engineering worker's strike has affected local steel output.
___________________________________________________________ |
PetroSA partners with South Korean oil firm
National oil company PetroSA will explore joint projects with its South Korean counterpart in South Africa and the rest of the continent, the State-owned company said on Tuesday, announcing the signing of a memorandum of understanding (MoU).
__________________________________________________________ |
More than 100 000 union members to march to Seifsa offices
The Steel and Engineering Industries Federation of South Africa (Seifsa) said on Thursday that it fully expected more than a 100 000 union members to march onto its offices on Monday.
Seifsa MD David Carsons said that a certificate of nonresolution was issued this week, opening the way for the unions to embark on strike action.
__________________________________________________________ |
The London based International Steel Statistics Bureau (ISSB) gather data on steel production and market development from around the world. We have listed below some key point from their latest report on the stainless steel market.
__________________________________________________________ |
JUNE 2011
__________________________________________________________ |
The factors attributed to the falling price of nickel continue to grow. The price of nickel on the LME in February was over $29,000 per tonne, as of today the price for cash buyer has fallen down to $21,945 per tonne, down over $2400 in the last month. The fall in price is being attributed to weak demand due to seasonal factors and substitutes, as well as a forecasted surplus of the metal.
__________________________________________________________ |
| ASTM Steel Standard Covers Sampling of Castings
A new ASTM International standard covers the inspection requirements agreed upon by the purchaser and producer of steel castings for the sample castings prior to production of an order.
The new standard, ASTM A1062, Specification for Steel Castings Sampling, has been developed by Subcommittee A01.18 on Castings, part of ASTM International Committee A01 on Steel, Stainless Steel and Related Alloys
__________________________________________________________ |
AIM listed SA-focused investment company to list on AltX
87% of KMG Steel Services Centres (Pty) Ltd: KMG consists of two companies, GRS and Stalcor (Stainless Steel and Aluminium Corporation). GRS which has been in business since 1950, is the largest steel roofing and cladding company in South Africa.
__________________________________________________________
|
| Global steel production rise in May
Global steel production was 4.2% higher in May at 130-million tons compared with the same month last year, said the World Steel Association (worldsteel) on Monday.
Output in most regions grew, except for a small drop in production in the European Union and Oceania, as well as quite a significant fall of almost 20% in African production.
___________________________________________________________ |
MAY 2011
__________________________________________________________ |
| New labour law bills cause for concern – Sassda
The Southern Africa Stainless Steel Development Association (Sassda) is concerned about the consequences of government’s four proposed labour laws for the local stainless steel industry, should the laws be implemented as is.
__________________________________________________________ |
| Association to drive growth through interaction with all role-players
The Southern Africa Stain- less Steel Development Association’s (Sassda’s) drive to increase the local production of stainless steel through increased interaction with all role-players in South Africa will promote awareness of stainless steel and benefit members through increasing demand.
__________________________________________________________ |
| Project to revive stainless steel cutlery manufacturing in South Africa under way
The SouthernAfrica Stain- less Steel Development Association (Sassda) aims to revive local cutlery manufacturing and reduce the country’s dependence on Chinese imports by implementing its Ama Izi Puni Teaspoon project.
__________________________________________________________ |
|
The International Stainless Steel Forum (ISSF) has granted the first ISSF Sustainability Award for Outokumpu. The acknowledgement was received in ISSF Annual General Meeting in Madrid, Spain on 22 May 2011. The recognition was based on Outokumpu's determined actions and great achievements in reducing waste to landfill and increasing material efficiency in Sheffield. __________________________________________________________ |
| SA's IDC to help fund R840m platinum mine
South Africa's Industrial Development Corporation (IDC) would contribute about R 840-million rand ($120,5-million) in equity finance for the new Lesego platinum mine project, a senior IDC official said on Tuesday.
South Africa, the world's largest platinum producer, could lift its platinum output by 5% in 2011 from 4,64-million ounces last year, although a strong rand currency and threat of labour strikes may hit expansion.
__________________________________________________________ |
| Steel sector research report released by Creamer Media
Since the beginning of 2010 the recovery of the global economy has been gaining momentum and this recovery is expected to continue. The global economic recovery is reflected in the steel industry, which saw a 15% increase in world crude steel production to 1 413,6-million tons for 2010, compared with 2009 – a new record for global steel production. Indicative of the past five years, China accounted for the largest share of crude steel production in 2010, followed by Japan, the US, Russia and India.
__________________________________________________________ |
Global nickel market will balance in 2011 - Experts
According to experts, the nickel market will balance in 2011 and show large surpluses in subsequent years. The startup of new plants and will generate a fall significant progress.
Nickel has gained altitude in the first quarter of 2011. On five occasions, a tonne of gold or green grazed the bar hit the USD 29000 on the market, the London Metal Exchange.
__________________________________________________________ |
|
Acerinox (ACX.MC: Quote), the world's largest stainless steel maker, said demand should support upcoming earnings after strength in the United States drove a forecast-beating rise in first quarter net profit.
__________________________________________________________ |
APRIL 2011
__________________________________________________________ |
Sessa analysing implications of Eskom SWH rebate cut
The Sustainable Energy Society of Southern Africa’s solar water heating (Sessa SWH) division was analysing the implications of Eskom’s reduction of the SWH rebate on the organisation's members, and end-users of the systems.
__________________________________________________________ |
| IFM ferrochrome output up 9%, sees strong future demand
London-listed International Ferro Metals (IFM) said on Wednesday that it had increased its second-quarter ferrochrome output by 9% to 51 446 t from the pervious quarter.
__________________________________________________________ |
| Eskom to lower solar water heater rebate at the end of April
State-owned power utility Eskom has confirmed that it would reduce the rebate level on its solar water heater (SWH) programme, which falls within energy efficiency initiatives in the Integrated Demand Management (IDM) unit.
__________________________________________________________ |
| Acerinox first shipment to Bahru Stainless in Malaysia
On 8 April left the port of the factory in Campo de Gibraltar in Spain the first ship with 5,000 tonnes of stainless steel, to be manufactured in the Asiatic country.
Until the new steel mill be finished, Acerinox Group will serve from its different factories the material to be processed in this new mill
_________________________________________________________ |
| IDC to invest R102bn to boost industry
South Africa's state-owned Industrial Development Corporation (IDC) will invest R102-billion over the next five years to boost the industrial sector, Economic Development Minister Ebrahim Patel said on Tuesday.
__________________________________________________________ |
| Rebar shortages cause companies to default on contracts – Sarcea
A nationwide shortage of raw material from South African steel mills has resulted in reinforcing steel (rebar) suppliers and manufacturers now having to default on their contracts with construction companies, said the South African Reinforced Concrete Engineers Association (Sarcea).
__________________________________________________________ |
| NSSC agrees with SA ferrochrome supplier to raise Q2 contract prices
It is reported that Nippon Stainless Steel Corporation has reached the agreement with the South African ferrochrome producer to raise the Q2 contract prices to USD 1.43 per pound, up by USD 0.1 per pound or 7.5%. __________________________________________________________ |
| SA collected more than R6bn from mining royalties – SARS
The South African Revenue Service (SARS) had collected more than R6-billion from mining royalties in the first year of their implementation, said commissioner Oupa Magashula on Friday.
__________________________________________________________ |
New Companies Act going through final approval processes – DTI
All systems are in place for the long-awaited new Companies Act to be up and running on Friday, with only President Jacob Zuma’s signature needed to bring it into law, the Department of Trade and Industry (DTI) announced on Thursday.
__________________________________________________________ |
MARCH 2011
__________________________________________________________ |
Ferrochrome prices rise to $1,35/lb in Q2
The European benchmark ferrochrome has been set at $1,35/lb for the second quarter of 2011, South African ferrochrome miner Merafe Resources reported on Wednesday.
__________________________________________________________ |
| Ferrochrome prices for April June shipment rise
Spot prices of high carbon ferrochrome and low carbon ferrochrome have currently risen substantially and accordingly, the prices of ferrochrome in both grades of high carbon and low carbon to be settled with regular consumers for shipments in the second quarter (April - June) of 2011 are anticipated to rise considerably.
__________________________________________________________ |
Stainless Steel Production Up 25% Globally in 2010
International Stainless Steel Forum preliminary figures show that global stainless steel melting activities increased by 24.9% to a new record high of 30.7 million metric tons (mmt). The increase came after 3 years of declining stainless steel production driven by stock cycles and global economic crises.
ISSF credited the recovery to several factors:
• economic recovery
• strong end-use demand
• re-stocking at service centers and fabricators
• re-filling of the internal supply chain in the stainless steel mills, which alone can count for half a million tons
__________________________________________________________ |
| Global stainless steel output hit record high in 2010
After three years of declining global stainless steel production, output increased by 24,9% in 2010 to a new record of 30,7-million tons, the International Stainless Steel Forum (ISSF) reported on Monday.
The ISSF said that the strong recovery was driven by a number of positives including the economic recovery, strong end-use demand, restocking and refilling of supplies. |
Resources will unveil a scheme in the next three months to grow its stake in a ferrochrome joint venture with Xstrata to 26%, lifting its exposure to SA’s lowest-cost producer of the stainless steel ingredient.
__________________________________________________________ |
| Merafe lobbying 2011 curb on export of raw chrome ore from S Africa – CEO
The black-controlled JSE-listed ferrochrome company Merafe Resources is lobbying for the South African government to impose restrictions on the export of raw chrome ore from South Africa this year.
__________________________________________________________ |
| DTI launches early warning system for exporters
The Department of Trade and Industry (DTI) would on Wednesday launch an Early Warning System service for South African exporters, which would alert them on potential technical barriers to trade that could be imposed by other countries.
__________________________________________________________ |
State mining company opens coal mine, declares oil-from-coal intent
South African President Jacob Zuma launched the new ‘competitive’ State mining company, which will produce 800 000 t/y of energy coal at its first mine and synthetic crude oil from another in 2013.
__________________________________________________________ |
FEBRUARY 2011
__________________________________________________________ |
Acerinox announces results for 2010
Acerinox Group achieves in 2010 a result after taxes and minorities of EUR 123 million, improving by EUR 352 million the figure registered in 2009.
__________________________________________________________ |
Spot ferrochrome in Europe hits highest since Nov 2008
Benchmark ferrochrome prices on the European spot market have jumped to their highest in more than two years on strong demand for the material valued for its anti-corrosive properties.
__________________________________________________________
|
Global stainless steel output exceeds 32 million tonnes in 2010
According to Austria based consultancy Steel & Metals Market Research, the stainless steel industry has left the crisis behind, at least from a global perspective. Production 2010 reached a new record of 32.2 mill tonnes on a crude steel basis
__________________________________________________________ |
South Africa's Merafe Resources said that its full year ferrochrome output rose by 48%, after it restarted suspended furnaces following a upswing in demand.
__________________________________________________________ |
R32m artisan training programme launched
The Public Works Department has invested R32-million in the development of essential skills for young people, particularly in the built environment sector.
A hundred learners from the Northern Cape attended their first day of the Northern Cape Artisan Development Programme at the Nuclear Energy Corporation of South Africa (Necsa) on Monday. More youths from other provinces would be recruited in future intakes.
___________________________________________________________
|
JANUARY 2011
___________________________________________________________ |
ArcelorMittal spins off stainless steel business news
ArcelorMittal, the world's largest steelmaker has spun off of the company's stainless steel and speciality steels business into a newly created company Aperam, in order to unlock value for shareholders. |
IFM more than doubles sales, but production declines
London-listed International Ferro Metals (IFM) more than doubled its ferrochrome sales in the December quarter on the back of strong demand from Asia, but furnace repairs reduced its production.
___________________________________________________________ |
AIDC launches call centre to assist auto companies in distress
The Automotive Industry Development Centre (AIDC) has launched a ‘Distressed Companies Helpdesk’ for the Gauteng automotive industry, by means of a newly established call centre.
___________________________________________________________ |
Steel sector outlook is stable - S&P analyst
The outlook for the steel sector is stable, and "the worst should be behind for the industry", ratings agency S&P's Andrey Nikolaev said on Tuesday.
___________________________________________________________ |
Nickel supply will outpace demand this year as new projects start and demand growth in China slows after the government tightened monetary policies to curb inflation, said Sumitomo Metal Mining Co., Japan’s top producer.
___________________________________________________________ |
ArcelorMittal shareholders to get stake in stainless spinoff Aperam
ArcelorMittal shareholders are to receive one ordinary share of Aperam, the newly created company that will run the stainless steel division of the Luxembourg-based steelmaker once it is spun off later this month, for every 20 shares ArcelorMittal shares held, ArcelorMittal said Wednesday.
___________________________________________________________ |
Coal shortfall may affect Mittal’s SA steel output if floods delay future Queensland shipments
South Africa’s largest steel producer ArcelorMittal South Africa (Mittal) – which is currently ramping up production following the summer holiday slowdown, as well as following unplanned operational setbacks at Vanderbijlpark and Newcastle in December – is concerned that the Queensland floods could affect its coking coal supplies and, in turn, its first-half output, at a time when the pace of the domestic market recovery is outstripping expectations.
___________________________________________________________ |
Steel imports into SA surged in 2010, but situation ‘normalising’
Imports of primary carbon and alloy steel products surged 40,3% in the first ten months of 2010 to 570 640 t, as compared with 406 793 t during the corresponding period of 2009, the South African Iron and Steel Institute (Saisi) has confirmed.
___________________________________________________________ |
Eskom aims to renegotiate underperforming coal contracts by end March
South Africa’s coal-intensive State-owned power utility Eskom, which is renegotiating a number of coal contracts to narrow its quality requirements and improve plant performance, is already buying in some higher quality coal to deal with load losses.
___________________________________________________________ |
| Afrox announces R190m GOX 6000 plant acquisition
JSE-listed African Oxygen (Afrox) has agreed to pay R97-milli
on to buy technology and equipment for a new 200-t/d GOX 6000 air separation plant from controlling shareholder Linde.
The company would pay a further R93-million to install and integrate the GOX 6000 unit at its Pretoria West air separation plant, which would bring the total cost of the transaction to R190-million.
___________________________________________________________ |
Tenneco Inc. has introduced the DynoMax VT muffler, a high-flow, stainless steel muffler "that controls irritating drone and provides shops the opportunity to increase their emission control business," according to the company.
___________________________________________________________ |
