AMM Daily

Friday Jul 25 2014
AMM’s daily issue is a collection of the top stories as selected by our editors. Access is restricted to subscribers and trialists so if you aren’t subscribing, you are missing the benefit of our editors' experience in judging the most critical news items of the day. Subscribe or take a free trial today.

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Steel RSS

  • NJ treasury division named lead plaintiff in suit vs. Cliffs

    Jul 25, 2014 | 12:51 PMNat Rudarakanchana

    The investment division of the New Jersey Treasury Department has become the lead plaintiff in a class-action securities lawsuit against Cliffs Natural Resources Inc., according to documents filed in U.S. District Court in Ohio.

  • Steel mills' winter pains spell gains for Nucor

    Jul 25, 2014 | 09:05 AMMichael Cowden

    Nucor Corp. expects to maintain through year-end market share that was gained in the first quarter, when other steelmakers struggled to maintain output amid an unusually harsh winter and delayed ore shipments.

  • Essar Steel Algoma finalizes funding deal

    Jul 24, 2014 | 08:14 PMThorsten Schier

    Essar Steel Algoma Inc. has finalized the terms of an agreement that would provide the struggling steelmaker with a near-term capital infusion of $100 million.

Nonferrous RSS

  • Freeport to resume copper exports from Grasberg Mine

    Jul 25, 2014 | 12:10 PMSaranya Kapur

    Freeport-McMoRan Inc. has signed a memorandum of understanding with the Indonesian government allowing it to resume copper concentrate exports from its Grasberg Mine.

  • Vale nickel output falls amid planned outage at Sudbury

    Jul 25, 2014 | 11:54 AMRey Mashayekhi

    Vale SA reported lower nickel production in the second quarter due to decreased output at its Sudbury operations in Ontario, according to the miner’s quarterly production report.

  • Brazil outages could boost US silicon prices

    Jul 24, 2014 | 06:30 PMNathan Laliberte

    Silicon production outages in Brazil could lead to supply shortfalls and spot price increases if the situation continues, North American silicon market participants said, although manganese alloy suppliers expect little impact on their market.

Scrap RSS

  • Ontario auto recycler fined following worker death

    Jul 25, 2014 | 01:21 PMRey Mashayekhi

    Plank Road Auto Wreckers Ltd. has been fined Canadian $60,000 ($55,900) by the Ontario Court of Justice following the death of a worker at the recycler’s facility in September 2012.

  • US ferrous scrap export prices to Asia slip

    Jul 24, 2014 | 06:07 PMSean Davidson

    Bulk and containerized ferrous scrap export prices into most Asian markets fell this week as demand remained weak.

  • Japan alloy rush may boost US zorba

    Jul 24, 2014 | 04:51 PMSean Davidson

    Domestic and export prices for zorba, a nonferrous auto shred comprised mostly of aluminum, could trek higher in August as Chinese smelters look to fill up inventories to cater to strong alloy demand from Japan, according to some market participants.

Supply Chain RSS

  • PCC mulls another $6B in acquisitions

    Jul 24, 2014 | 06:04 PMFrank Haflich

    Precision Castparts Corp. (PCC) could spend another $4 billion to $6 billion on acquisitions during the next three years, chairman and chief executive officer Mark Donegan said.

  • Reliance net jumps; flat shipments a concern

    Jul 24, 2014 | 05:43 PMNat Rudarakanchana

    Reliance Steel & Aluminum Co.’s earnings jumped in the second quarter, but flat shipments vs. the first quarter sparked some concern from analysts.

  • Caterpillar gets construction boost, mining segment weak

    Jul 24, 2014 | 12:47 PMThorsten Schier

    Caterpillar Inc.’s construction segment contributed to a 4.1-percent increase in second-quarter net income, offsetting continued weakness in its mining segment.

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