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August 27th - General
Hickory, NC, U.S.A. - 6 Spools Per Minute! |
 Windak announced today that its new generation High Speed SW6 spooler has successfully achieved 6 x 100 m spools per minute. Our SW6, fully automatic spooler has been designed for a maximum output of 6 spools/min (100 m) with a guarantee of 5 per/min (100 m) according to Urban Bollo, Managing Director of Windak Sweden. “To the best of our knowledge, the SW6 is the fastest 100 m cable spooler in the world” stated Mr. Bollo.
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August 27th - Projects
Istanbul Turkey - Diler Demir Celik commissions new rolling mill |
| Diler Demir Celik End. ve Tic A.S, an affiliate of Diler Holding - one of Turkey's leading iron and steel manufacturers, has constructed and commissioned a new rolling mill near its existing rebar mill in the northwestern Turkish city of Izmit. This new rolling mill with a total annual production capacity of 500,000 mt will be able to produce both wire rod and rebar in coils, in respective size ranges of 5.5-20 mm and 6-18 mm. It will also be capable of producing low, medium and high carbon wire rod. The rolling mill was supplied by Italian plant maker Danieli as a turn-key project. Thanks to its modern equipment and advanced technology, the mill will be able to produce high value added special steel in the long term. Diler officials state that trial production has been completed and that the new rolling mill has started to receive orders. |
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August 27th - Market Stats
London U.K. - Copper down on firm dollar. |
| Rising stocks and a firmer U.S. dollar dampened sentiment in industrial metals on Tuesday, while investors awaited U.S. data for more clues about the health of the global economy and future demand. "We are looking for more downside in copper, towards $7,000 per tonne very short term, until we see any signs of a pick up particularly in Chinese import buying," said analyst Gayle Berry at Barclays Capital. London Metal Exchange copper for delivery in three months fell $135 to $7,525 a tonne by 0932 GMT, after diving by 2.6 percent on Friday before a long weekend with London closed on Monday. |
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August 27th - Acquisitions
Charlotte, North Carolina. - Nucor acquires Ambassador Steel Corporation |
| Nucor Corporation announced Tuesday that its wholly owned subsidiary, Harris Steel, Inc., has completed the acquisition of the stock of Ambassador Steel Corporation, based in Auburn, Indiana, for a cash purchase price of approximately $185 million. The transaction includes the shares of Ambassador's affiliate, Delta Erecting. At closing, Harris Steel also repaid Ambassador's bank debt of approximately $136 million, which primarily financed the company's working capital requirements. Ambassador's working capital, excluding this debt, was approximately $165 million at the end of July. |
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August 27th - Market Stats
London U.K. - Nickel hits the producer pain threshold |
| Xstrata has just provided ample evidence that nickel prices have now sunk to a level where producers at the higher end of the cost curve are feeling the pain. The company said Tuesday its Falcondo ferronickel operations in the Dominican Republic would be suspended temporarily due to "market conditions". The downtime is expected to be around four months, implying a loss of 9,500-10,000 tonnes of nickel in ferronickel to the market. |
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