American Iron & Steel Industries reported that, in the week ending October 20th 2012, US domestic raw steel production was 1.722 million tons while the capability utilization rate was 69.7%. Production was 1.781 million tons in the week ending October 20th 2011, while the capability utilization then was 71.9%. The current week production represents a 3.3% YoY decrease from the same period in the previous…

UC RUSAL and Israeli company Omen to establish joint venture to produce automotive components UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; Moscow Exchange: RUALR/RUALRS), a leading, global aluminium producer, announces the signing of a memorandum of understanding with Israeli company Omen High Pressure Die Casting ("Omen"), which specializes in the production of automotive components from non-ferrous metals.…

The iron industry has been around for generations but over the years, the face of foundries has shifted away from small, family-run businesses to large corporations. Bremen Castings Inc. (BCI) in Bremen, Indiana, is not one of them. The family-owned foundry will be celebrating its 75th anniversary in March and James (JB) Brown, President of Bremen Castings, credits the longevity and success of the company…

The London Metal Exchange (LME) and Goldman Sachs are being sued in US court over alleged anti-competitive and monopolistic behaviour in aluminum storage. The metal exchange will fight the class-action lawsuit, which its management believes is without merit, the LME's owner, Hong Kong Exchanges and Clearing Limited, said in a statement. Wall Street banks are facing increased scrutiny of their involvement in…

Omaha Steel Castings Co. LLC announced the hiring of a new chief executive officer and said all of its operations will be relocated to its new plant in Wahoo by the end of the month. Kevin Brown is the new CEO. OSCC also said it is aggressively seeking additional employees, both skilled and unskilled. It now employs 130 people in Wahoo and 12 still working at the original plant, built in 1906 at 46th and…

TRAVERSE CITY, MI - Volkswagen's Think Blue Factory in Chattanooga, Tenn., will serve as the blueprint for all new plants worldwide and has become a benchmark for environmental efficiency for all existing plants. This was the key message of Dr. Jan Spies, Volkswagen AG head of factory planning, at the Center for Automotive Research's Management Briefing Seminar in Traverse City, Mich., today. Spies noted…

Steel-maker A. Finkl & Sons Co. is inching closer to completing its move to the South Side. Bruce Liimatainen, Finkl's chairman and chief executive, said the move to 1355 E. 93rd St. is about 60 percent complete. The goal, he said, is to wrap up the move by the end of the year. The new steel factory is equipped with the latest technology, improved production lines and better access to transportation and has…

Waupaca Foundry is the recipient of three environmental awards earning national, state, and industry recognition for its commitment to energy reduction. The awards recognize the iron casting supplier’s commitment to finding smarter ways to use and protect natural resources. The award-winning energy projects include an overhaul to an air compressor system at Plant 1 located in Waupaca, Wis.; installation of…

Reuters reported that aluminum has become the in vogue defensive play amid the broader sell off across the LME metals markets. This is partly due to the fact that there was less speculative premium built into the light metal than say copper. It also reflects the unwinding and reversal of previous long copper and short Aluminum trading strategies, a trend that appreciably accelerated last week. As of close…

voestalpine has announced operating result for the first half of the business year 2011. Highlights: Revenue grows to EUR 5,978 million, up by 15.1% YoY EBITDA increases from EUR 710 million to EUR 824 million EBIT rises by 28.3% from EUR 414 million to EUR 531 million EBIT margin improves from 8.0% to 8.9% Profit climbs by 39% from EUR 250 million to EUR 346 million Overall work force again at the pre…