Prices for higher grades of copper scrap have edged lower as primary metal on the Comex division of the New York Mercantile Exchange comes under downward pressure and a pickup in overseas demand fails to meet expectations. The brass ingot makers’ No. 1 and No. 2 copper scrap fell 3 cents across the East and.. read more →

North American aluminum mills reported a slight but significant uptick in orders in May from the previous month, suggesting that the market might have reached bottom after nearly two quarters of slackening demand. “We are finally seeing some stabilization, some signs of maybe an increase,” one aluminum trader said. Extruded products led the charge with.. read more →

Aleris International, Inc., a Beachwood, Ohio-based producer of aluminum sheet and ingot from scrap, squared off against its lone shareholder Wednesday, offering arguments to a bankruptcy court supporting the structure of proposed Chapter 11 financing for the company during its reorganization. TPG Capital, based in Fort Worth, Texas, is the sole owner of Aleris’ stock… read more →

The aluminum market is benefiting from increased substitution out of copper and steel-based products in the wake of soaring prices, according to Richard B. Evans of Alcan Inc., Montreal. In the past few years and especially more recently, aluminum has benefited at the expense of steel and copper as those metals experienced enormous price jumps… read more →

Unlike the carbon side of the steel industry, stainless service centers are keeping tight reins on inventory, though mills aren’t limiting production. Executives at the stainless service centers say they’re keeping a smaller inventory than normal. The smaller inventories are not because of a lack of demand, but the surcharge cost. Centers say keeping too.. read more →

30 Oct 2006
October 30, 2006

Panama Canal Expansion Gets ‘Go’

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Voters in Panama have approved a referendum for a $5.3-billion expansion of the Panama Canal, expected to double the canal’s capacity by 2014. The referendum passed by a margin of 78% to 22%. The project will add a third set of locks, each 1,400 feet long and 180 feet wide, giving bigger freighters carrying up.. read more →

With September winding down and surcharges set to go up again in October, stainless steel buyers continue to face high prices and tight supply. Views are mixed on how the picture will play out for November. Some stainless suppliers are letting inventories dwindle in hopes of a smaller surcharge in November while others are softening.. read more →

Prices for 18-8 stainless scrap flirted with $2,800 a ton on a delivered-to-mill basis in the Pittsburgh market this month before settling in a range of $2,750 to $2,775 a ton, scrap industry sources said. The more than $250 increase from the prevailing mill price in August was driven entirely by the steadily rising price.. read more →

The Copper Development Association (CDA) is preparing to submit an application to register antimicrobial copper alloys with the U.S. Environmental Protection Agency. The CDA research has shown that 99.9 percent of bacteria are killed within two hours of coming into contract with copper alloy surfaces in contrast to no reduction in the concentration of live.. read more →

US nickel premiums are holding steady due to sparse spot sales as buyers wait for prices to cool off. Premiums for melting-grade nickel are holding at between 42 and 47 cents a pound. Several traders expected to see higher prices after Labor Day as buyers returned from summer holidays, but the market has yet to.. read more →