Sale or liquidation said Ormet’s options

Mon, 20 May 2013 18:45:00 GMT

Bankrupt aluminum producer Ormet Corp. says it could be forced to liquidate if its sale to an entity owned by private investment firm Wayzata (Minn.) Investment Partners LLC is not approved.

Felman plans to idle furnace, cut staff

Mon, 20 May 2013 20:38:00 GMT

Felman Production LLC will idle one of its three electric-arc furnaces May 31 and has already begun reducing its work force, citing a recent decline in silicomanganese prices as a primary factor for the cost-cutting.

Obama pushes infrastructure plans

Mon, 20 May 2013 21:26:00 GMT

President Obama has signed an executive order aimed at speeding up major infrastructure projects by modernizing permitting practices and regulations, a move some say could benefit suppliers of steel and other structural components by getting backlogged construction projects off the ground sooner.

Woulfe Mining reviews costs, Sangdong project

Mon, 20 May 2013 19:01:00 GMT

Woulfe Mining Corp. is aiming to reduce costs after a companywide review revealed liquidity issues and the ability of the company and its subsidiaries to meet various payables beyond the next few months.

Bulk scrap export prices hit three-year low

Mon, 20 May 2013 21:27:00 GMT

U.S. East Coast bulk ferrous scrap export prices fell to a three-year low this past week as Turkish mill buyers continued to hammer down prices.

Severstal’s N. America sales up in 1st qtr.

Mon, 20 May 2013 18:05:00 GMT

Russian steelmaker OAO Severstal’s North American operations recorded higher revenue in the first quarter compared with the fourth quarter of last year as a double-digit rise in sales volumes more than offset lower average selling prices.

Energex Tube scrapping some Lakeside assets

Mon, 20 May 2013 19:16:00 GMT

The city of Welland, Ontario, has issued five permits to JMC Steel Group Inc. subsidiary Energex Tube to demolish various former Lakeside Steel Inc. facilities.

Europe stainless makers split over surcharges

Mon, 20 May 2013 19:33:00 GMT

Acerinox SA chief executive officer Bernardo Velázquez Herreros believes that the European stainless alloy surcharge system "has passed away," although other stainless steel producers still see a future for the system.

House committee advances Keystone bill

Fri, 17 May 2013 22:17:00 GMT

The House Transportation and Infrastructure Committee has approved legislation that would expedite the permitting of TransCanada Corp.’s proposed Keystone XL pipeline.

Pipelines will flow despite delays: exec

Mon, 20 May 2013 20:53:00 GMT

While there are plenty of crude oil pipeline projects on the books, the permitting environment is a difficult one, keeping many of those projects from moving forward, according to a refinery operations executive.

Former Sims employee seeks trial by jury

Mon, 20 May 2013 21:09:00 GMT

A former employee of Sims Group USA Corp. who filed a lawsuit against the company alleging wrongful termination, age discrimination, retaliation and conversion has asked for a jury trial.

Southeast Asia imports of Japanese steel rise

Mon, 20 May 2013 13:07:00 GMT

The weaker yen has led Southeast Asia to import more Japanese steel products, particularly higher-grade product not produced by the region, according to Chow Chong Long, chairman of the South East Asia Iron and Steel Institute.

China Armco’s 1st-qtr. sales fall 70.9%

Mon, 20 May 2013 16:31:00 GMT

China Armco Metals Inc.’s revenue took a hit in the first quarter as metal ore trading declined dramatically, although the company managed to narrow its net loss compared with the same year-ago period.

VIDEO: Kennecott’s Bingham Canyon update

Mon, 20 May 2013 22:25:00 GMT

AMM's special correspondent Andrea Hotter ventures to the site of Kennecott Utah Copper’s Bingham Canyon Mine in the aftermath of last month's massive wall slide.

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