It is reported that Japanese stainless steel manufacturers expect to get an early recovery to a price level of USD 2,000 per tonne FOB in their export deals of nickel based CR sheets if LME nickel prices continue to trend upward from this week onward. In the first week of April, LME nickel prices advanced by USD 0.50 per pound. Taiwan's and South Korea's stainless steel producers reacted with a price…

It is reported that domestic SiMn alloy price stalls with tight spot supply and low purchases. Imported Mn ore still goes dull while export remains slim. Current FeMn65Si17 is priced at CNY 6550 per tonne to CNY 7050 per tonne and FeMn60Si14 at CNY 5300 per tonne to CNY 5900 per tonne while FOB quotation stays at USD 1000 per tonne to CNY 1150 per tonne. At present, most SiMn plants stay at maintenance with…

At a time when the economy is causing manufacturing companies to look for every possible savings, one machine tool builder is hearing a very positive message from some customers. Maus Spa, (Padova, Italy) reports several foundry customers have tracked considerable savings in time and outside expense, as a result of using their SAM grinding centers from Maus for surface grinding (fettling), cutting and riser…

Nikkei newspaper reported that Nippon Steel Corporation's net income may have fallen by 60% to JPY 140 billion last fiscal year. Nippon Steel may have booked JPY 320 billion pretax profit for the year ended March 31st 2009, down by 43% YoY from a year earlier and about JPY 40 billion less than it forecast in January, because of reduced output. Crude steel output in the March quarter may have fallen more…

Reuters reported that German steel and industrial conglomerate ThyssenKrupp plans to cut 4,000 jobs and introduce a leaner management structure. The new measures, which the newspaper said would be presented at a group executive board meeting, are more far reaching than the restructuring steps unveiled by CEO Mr Ekkehard Schulz on March 27th 2009. ThyssenKrupp's five independent business units would be…

PT Indonesia Asahan Aluminum, the only smelter in the country, plans to operate at full capacity this year as low electricity costs help the producer make a profit even after a drop in metal prices. The smelter in northern Sumatra produced 242,000 metric tons of aluminum last year and will have similar output this year, Yukio Minbu, general manager at Nippon Asahan Aluminium Co., said in an interview.…

The first-quarter recovery in China’s motor industry could prove only temporary, Li Shufu, chairman of Geely, one of China’s largest private carmakers, has told the Financial Times. His comments highlight the debate over whether the Chinese economy has turned a corner to sustained recovery. Speaking on the eve of the Shanghai motor show, Mr Li also called for caution among Chinese carmakers looking to…

BS reported that automobile component manufacturers of Kanpur are showing signs of comeback after recording consistent fall over the past two years. During the past three months, there has been a significant rise in orders. In fact, the demand has increased over three-fold. This increase is being attributed to the rise in demand for some of the models of Maruti for which a large number of local auto…

FOMET SRL, one of the world leaders in induction furnaces and specialists in pouring furnace systems. It has had in operation, since 1970, two automatic tilting pouring furnaces type D2C with 4 tons capacity and 160 kW inductor for casting grinding balls at Christian Pfeiffer foundry in Mezzomerico (NO) , Italy. Grinding balls The foundry is situated in the province of Novara, Italy, close to Milano.…

Gulf news reported that according to Abu Dhabi based Emirates Steel Industries, demand for steel in the UAE in 2009 has fallen 40% on the year so far due to the slowdown in the construction sector but for now, demand seems to have stabilized. Mr James White told Gulf News by telephone that "Abu Dhabi in 2009 is showing strong demand, but demand in Dubai is down. My monthly sales are running at roughly…