| WEEK 25 JULY TO 30 JULY |
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Ferrochrome is one of those raw materials consumed in the steel making industry that has no futures exchange market and, compared to say nickel, limited speculative activity. So for once we can focus more on the supply and demand fundamentals rather than worry about the impact of ETF’s, financial hedging activities, or forward dated squeezes. |
| WEEK 19 JULY TO 23 JULY |
Global steel output up 28% in H1
Global crude steel output by members of the World Steel Association, grew by 27,9% year-on-year to 706-million tons in the first half of 2010, but the association stressed that most regions’ steel production had not yet recovered to precrisis levels. |
IFM expects ferrochrome demand to strengthen
Ferrochrome-producer International Ferro Metals (IFM) said on Tuesday it expected ferrochrome demand to strengthen over the next quarter, supported by an anticipated rise in stainless steel demand and seasonal production cuts by South African ferrochrome producers during past winter months. |
| WEEK 12 JULY TO 16 JULY |
IFM sees no fall in ferrochrome Q4 contracts price
An end to de-stocking coupled with rising demand will ensure ferrochrome contract prices do not fall below current levels for the fourth quarter, South African producer International Ferro Metals (IFM) said on Thursday. |
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The nickel market may swing into a greater deficit than expected this year because of supply disruptions and greater Chinese demand, which could boost prices, said Sumitomo Metal Mining Co., the biggest producer in Japan. |
SA ferrochrome shipments price to Europe reduced for Q3
TEX reported that the negotiations with major stainless steel companies in Europe on price of South African charge chrome for shipments in July to September quarter of 2010 were taken place by the end of last week and finally settled by a reduction of 6 US cents per pond of chrome, resulting in new benchmark price of 130 US cents per pound of chrome. |
| WEEK 05 JULY TO 09 JULY |
Bahru Stainless Steel
A USD 1.6 billion stainless steel plant which will be 67% owned by Acerinox of Spain and 33% by Nisshin Steel of Japan.
Company is registered in the name of Bahru Stainless Steel Sdn Bhd and project will be implemented in three phases.
When completed in 2020, it is expected to be the largest stainless steel plant in ASEAN with 1 million tonnes melting capacity and 600,000 cold rolling capacity. |
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MERAFE Resources shares traded higher on Friday after an expected slight decrease in the third-quarter ferrochrome price.
The price decrease was because of measures taken by China to rein in economic growth and ongoing uncertainty in Europe.
The third-quarter European benchmark price for ferrochrome fell 4% from the previous quarter to 1,30 a pound.
Ferrochrome is a key ingredient in the manufacture of stainless steel and its price is related to the health of the steel sector. |
Vele-linked coal-fired power station project placed on hold
The developer of the proposed Mulilo coal-fired power station, which is associated with the development of the controversial Vele coal mine on a property near the Mapungubwe world heritage site in the Limpopo province, has placed the project "on hold until further notice". |
Consumers should do their homework when going solar - Mundy
The founder and MD of long established solar water heating (SWH) company Solar Beam, Graham Mundy, has warned consumers to do their homework before investing in a home SWH system, following a number of systems going bust after extreme weather conditions experienced in Gauteng this winter. |
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LONDON/JOHANNESBURG (Reuters) - Ferrochrome producers in South African, the world's largest producer, agreed a 4 percent fall in the third quarter contract settlement price, Merafe Resources Ltd said on Friday. |
| WEEK 28 JUNE TO 02 JULY |
Coega oil refinery ranks among top global infrastructure projects
National oil company PetroSA’s proposed 400 000-bl/d project Mthombo crude oil refinery has been showcased in a list of the top 100 global infrastructure projects compiled by UK-based Infrastructure Journal and professional services firm KPMG International. |
| WEEK 21 JUNE TO 25 JUNE |
Global steel output showing a strong upward trend
The World Steel Association reported on Monday that global steel production increased by 29,1% in May to 124,8-million tons of steel, compared with just over 96-million tons of steel produced in the same month a year earlier. |
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According to data released by the South African Revenue Service, in the first four months of 2010, South Africa's imports of primary carbon and alloy steel products (excluding semis, stainless steel and drawn wire) totaled 201,851 metric tons, rising by 10.7 percent compared to the corresponding period of the previous year. |
| WEEK 14 JUNE TO 18 JUNE |
Safa House installs solar water heating as part of ‘greening’ initiative
Situated in Nasrec, Safa House has been equipped with a solar water heater (SWH) for its canteen, which is the biggest hot water consumer in the building, in a drive to make the building more energy efficient. |
Sasol to build 6 000-t/y TEAL plant in Germany
Petrochemicals group Sasol has approved the construction of a 6 000-t/y purified triethyl aluminium (TEAL) production unit at its Olefins & Surfactants (O&S) plant, in Brunsbüttel, in Germany. |
| WEEK 06 JUNE TO 11 JUNE |
Association name change part of relaunch
The Pressure Vessel Manufacturers Association (PVMA) has changed its name to the Pressure Equipment Manufacturers Association (PEMA) in response to changing market conditions. |
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June 4 (Bloomberg) -- World stainless-steel production will increase by at least 25 percent this year because of demand from China, according to the Bureau of International Recycling. |
| WEEK 31 MAY TO 4 JUNE |
Merafe plans furnace closures for maintenance
JOHANNESBURG (miningweekly.com) - JSE-listed ferrochrome producer Merafe Resources said on Thursday that ten of its furnaces would undergo routine maintenance at different times during the next three months. |
DTI signs off on R2,7bn cashback automotive investment scheme
The Department of Trade and Industry (DTI) on Wednesday, announced that Trade and Industry Minister Dr Rob Davies had approved the long-awaited guidelines of the Automotive Investment Scheme (AIS). |
PetroSA invests R80m in desalination plant for Mossel Bay refinery
National oil company (NOC) PetroSA would invest R80-million on the construction of a 200-m3/h seawater desalination plant, which would alleviate the impact of drought on the company’s Mossel Bay gas-to-liquids (GTL) refinery, as well as for the nearby communities. |
| WEEK 24 MAY TO 29 MAY |
Association implements new programme to promote job creation
The Southern Africa Stainless Steel Devel- opment Association’s (Sassda’s) role is to grow the conversion of stainless steel into finished and semifinished products to create employment, says Sassda chairperson Sampie van Rooyen. |
Government launches probe into hot-rolled steel dumping news
Following up on a complaint by JSL Ltd (formerly Jindal Stainless), the government has initiated a probe into the alleged dumping of hot-rolled flat stainless steel products by the EU, South Korea, South Africa, Taiwan and the USA. |
World steel output increases 35,7% y-on-y in April
Global steel production in April was 35,7% higher than a year ago, but 0,4% lower than March, at 121,6-million tons, the Worldsteel Association reported this week.
It said in a statement on Thursday that despite the month-on-month decline in output, April's global crude steel capacity use ratio rose for the fourth month in a row. |
| WEEK 17 MAY TO 21 MAY |
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In the first quarter of 2010, just under 7.5 million metric tons of stainless steel was produced globally, almost the highest ever volume for the first three months of a year, according to the preliminary report released by the International Stainless Steel Forum (ISSF). All areas of the world contributed to the increase in production with the Americas leading the way. Nevertheless, a comparison with Q1 2009 is strongly impacted by the extraordinary low production level in Q1 2009 due to the crisis: the apparent increase in production by 54.6 percent cannot be sustained throughout 2010. The ISSF has previously noted that a recovery began in the last two quarters of 2009 as production began to return to normal levels. |
World steel output increases 35,7% y-on-y in April
Global steel production in April was 35,7% higher than a year ago, but 0,4% lower than March, at 121,6-million tons, the Worldsteel Association reported this week.
It said in a statement on Thursday that despite the month-on-month decline in output, April's global crude steel capacity use ratio rose for the fourth month in a row. |
SSINA Says Lack of Enforcement of Cuban Embargo Hurts US Domestic Industry
In a written statement submitted to the Committee on Ways and Means of the U.S. House of Representatives, the Specialty Steel Industry of North America (SSINA) today encouraged stricter enforcement of the U.S. regulations on trade with Cuba, particularly with respect to China. |
| WEEK 10 MAY TO 14 MAY |
First solar geysers by June from new E Cape plant
The Eastern Cape Development Corporation (ECDC) has confirmed an investment worth R20-million into an East London facility able to produce 300 000 flat-panel solar water heaters, as well as more affordable vacuum tube-based systems, yearly. |
High power costs to cut Merafe output
South Africa's Merafe Resources said on Monday higher winter power costs and smelter maintenance closures will further reduce its ferrochrome output, which has already been hit by power shortages. |
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Nickel, this year’s best performer on the London Metal Exchange, dropped for the first time in four days as the dollar strengthened and on concern that China, the biggest consumer, will seek to curb economic growth. |
| WEEK 03 MAY TO 07 MAY |
Scaw seeks IPP to build, operate, own Germiston cogen plant
South African steel producer Scaw is inviting expressions of interest from independent power producers (IPPs) willing to build, own and operate what could be a 55-MW cogeneration power plant at the company's Union Junction site, located in Germiston, Gauteng province. |
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Nickel may lose its steam after a rally in April as China's latest monetary measure to cool the economy and crack down on sizzling property market could slash demand for the metal. |
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The iPath Dow Jones UBS Nickel Subindex losing more than 9% in recent action. It was the third straight down session for the ETN, which has shed nearly 16% since the start of the week. The nickel ETN's recent slide comes after a stellar first quarter, when it gained 35.2% on hopes that a manufacturing recovery would boost demand for stainless steel. |
| WEEK 26 APRIL TO 30 APRIL |
Solar energy system to power Diepsloot skills centre
The City of Johannesburg (CoJ), the Department of Mineral Resources and cement manufacturer Pretoria Portland Cement (PPC) on Thursday launched the Diepsloot skills development centre solar energy system, a R1,7-million project consisting of 75 photovoltaic panels to provide the centre with electricity. |
Areva keen to enter SA solar power industry
French energy technology company Areva, best known for its work in the nuclear power industry, plans to develop a solar power business in South Africa, a senior executive said on Thursday. |
Next phase of solar geyser roll-out to incorporate greater local content
South African President Jacob Zuma on Thursday officially launched the National Solar Water Heating (SWH) programme in Winterveldt, north-west of Pretoria, where some 270 SWH units have already been installed. |
| WEEK 19 APRIL TO 23 APRIL |
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Ferrochrome prices are being squeezed by a tight supply market limited by power shortages in South Africa the largest producer. Even though there have been and will continue to be substantial re-starts around the world, HSBC estimates a 26% increase in capacity. Growing demand from the stainless steel industry is keeping pace and holds out the possibility of a market deficit next year if there are any further problems in South African power supply.
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Alfa Level Group (STO:ALFA) has announce3d that it has acquire 65% of the shares in Si Fang Stainless Steel Products Co. Ltd. Si Fang, based in China, serves the food and beverage market with a portfolio that includes pumps, valves and fittings. Its sales reached SEK 150 million in 2009 and it currently employs 300 employees. Si Fang was consolidated into the Alfa Laval Group on April 1, 2010. |
| WEEK 12 APRIL TO 16 APRIL |
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April 16 (Bloomberg) -- Nickel, used to make stainless steel corrosion-resistant, advanced to the highest level in 23 months on speculation the market will swing into deficit for the first time in four years as a recovering economy boosts demand. |
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April 14 (Bloomberg) -- The nickel market may swing into a deficit for the first time in four years as the global economy recovers from its worst postwar recession, fueling demand for stainless steel, said Sumitomo Metal Mining Co., the biggest producer in Japan. |
| WEEK 28 MARCH TO 09 APRIL |
Worldsteel urges authorities to probe iron-ore market
The steel industry believes that imposed iron-ore contracts will have a negative impact on the recovery of the global economy and authorities worldwide should examine the iron-ore market, an industry body said on Thursday. |
European ferrochrome benchmark price up 35%
The European benchmark ferrochrome price has increased to $1,36/lb for the second quarter of the year, South African ferrochrome producer Merafe Resources advised on Thursday. |
| WEEK 22 MARCH TO 26 MARCH |
Stainless steel body aligns programmes
with South Africa’s new industrial strategy
The Southern Africa Stain-less Steel Development Association (Sassda) is aligning is activities with government’s newly launched Industrial Policy Action Plan, or Ipap2.
Sassda communications specialist Yumna Emeran says that the association’s most immediate project is its jewellery and arts and crafts project, which is being pursued in conjunction with the Agribusiness Development Corporation and Cape Craft Design Institute, in Hermanus. She explains that the project aims to integrate stainless steel with uniquely African materials, such as abalone shells, and other precious and nonprecious gemstones. |
Global steel production in February rose 24,2% year-on-year, to 108-million tons, but was lower than the 109-million tons produced in January, the World Steel Association (Worldsteel) said on Monday.
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World nickel prices are averaging $10/lb this month, as compared with $4.40 last March, because of increased demand from stainless steel producers-particularly those in China.
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| WEEK 15 MARCH TO 19 MARCH |
SA solar water heater market set to grow rapidly
The Department of Energy (DoE) and the Department of Trade and Industry (DTI) believe that the solar water heater (SWH) market is set to grow rapidly in South Africa and aim to install one-million SWHs by 2014. |
Israeli Ambassador to South Africa Dov Sergev-Steinberg and Public Enterprises Deputy Minister Enoch Godongwana on Monday inaugurated the 117 flat panel collector solar water heating installation above the rooftop of the Hotel Da Vinci, in Sandton. |
| WEEK 08 MARCH TO 12 MARCH |
Hernic Ferrochrome to raise 2010 output
South Africa's Hernic Ferrochrome, a unit of Japan's Mitsubishi Corporation, said on Friday it plans to raise output to 90% of total annual smelter capacity this year due to higher demand. |
Strike hits Outokumpu's stainless steel production
SteelOrbis - On March 8, Finnish stainless steelmaker Outokumpu announced that the strike of Finnish stevedores affiliated to the Finnish Transport Workers Union (AKT) has started to impact Outokumpu's operations in Röyttä harbor in Tornio. All operations in the harbor have currently stopped.
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| WEEK 01 MARCH TO 05 MARCH |
South Africa is continuing to export raw chrome ore to China in higher quantities and at comparatively low prices, despite government objections, Mining Weekly Online can today reveal. |
| WEEK 22 FEBRUARY TO 26 FEBRUARY |
Acerinox posts loss for 2009 but optimistic for 2010
Spanish stainless steel maker Acerinox posted a record net loss in 2009 on falling demand and prices in the early part of the year, but said signs of recovering orders could boost results in 2010.
Net losses widened to EUR 229 million in 2009. Revenues dropped by 40% to EUR 2.99 billion.
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LONDON (Reuters) - South African-based International Ferro Metals Ltd (IFM) reported a wider loss in its first half as higher production was outweighed by lower prices for the stainless steel ingredient and stronger rand. |
IFM aims to double production capacity as demand strengthens
JOHANNESBURG (miningweekly.com) South Africa-focused International Ferro Metals (IFM) said on Tuesday that the ferrochrome market had "greatly improved" over the last three months, reflecting increased demand, not only from China, but also from the US and Europe.
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| WEEK 15 FEBRUARY TO 19 FEBRUARY |
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The South African government has set aside an additional R3,6-billion for the Department of Trade and Industry (DTI) to partly support the second version of its Industrial Policy Action Plan, or Ipap2, which will run from April 1, 2010, through to March 31, 2013, - details on the much discussed industrial-policy intervention will be unveiled by Trade and Industry Minister Dr Rob Davies on Thursday.
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JOHANNESBURG (miningweekly.com) London-listed International Ferro Metals (IFM) has entered into a R150-million agreement with Anglo Platinum subsidiary Rustenburg Platinum Mines (RPM) for the supply of chromite to feed its two furnaces in South Africa for the next decade. |
| WEEK 08 FEBRUARY TO 12 FEBRUARY |
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Stainless steel production is expected to grow this year, but not at the 10% recovery rate being suggested by the mills. There's too little demand for too much metal. |
Assmang to produce ferromanganese at Machadodorp
South African ferrochrome producer Assmang plans to convert the No 5 furnace at its Machadodorp Works to produce high-carbon ferromanganese, rather than ferrochrome, it announced on Thursday.
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| WEEK 01 FEBRUARY TO 05 FEBRUARY |
Afrox says FY earnings could fall by up to 60%
Gases and welding company African Oxygen (Afrox) expects its earnings a share and headline earnings a share for the 2009 financial year to drop by between 50% and 60% compared with earnings recorded the year before. |
JOHANNESBURG (miningweekly.com) – South African ferrochrome producer Merafe Resources on Monday reported that production for the 2009 financial year was down by 30%, compared with the previous year.
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| WEEK 25 JANUARY TO 29 FEBRUARY |
Stainless Steel production increase
Preliminary figures released today by the International Stainless Steel Forum (ISSF) show that world stainless steel production decreased by 15% in the first nine months of 2009 when compared to the same period of 2008. However, production figures for the third quarter show an increase of 12.5% when compared to the same quarter in 2008 |
| WEEK 18 JANUARY TO 22 JANUARY |
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FERROCHROME producer International Ferro Metals yesterday reported an 85% jump in output for the quarter to December compared with the year-earlier period, after it restored production at its second furnace in August on an improved outlook for demand and prices. |
Big electricity hikes will be ‘materially damaging’ to SA mines
In the absence of the finalisation of the country’s Integrated Resource Plan (IRP), power utility Eskom’s proposed tariff increases could have material implications for the structure of South Africa’s electricity supply industry (ESI), as well as for the industrialisation of the economy in the next few decades, the Chamber of Mines (CoM) told the National Energy Regulator of South Africa (Nersa) on Friday. |
Intl Ferro Metals Q2 output up 85%, upbeat on market
South African-based International Ferro Metals Ltd gave an upbeat view of prices and Chinese demand after posting an 85 percent jump in second-quarter output due to the restart of a furnace. |
| WEEK 11 JANUARY TO 15 JANUARY |
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The fallout from the financial crisis that afflicted the world economy has seen nickel prices fluctuate wildly. LME prices peaked at just over US$52,000/t in May 2007, on the back of strong demand and low stocks, but had fallen by over 80% by the end of 2008, as demand collapsed. By the fourth quarter of 2009, however, prices had recovered to US$18,500/t
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| WEEK 01 JANUARY TO 08 JANUARY |
World stainless steel output up 12,5% in Q3
World stainless steel production started to show a recovery in the third quarter of 2009, with most regions increasing their output in the three-month period, the International Stainless Steel Forum (ISSF) reported. |
