Market Updates

Haviland news and market updates from around the globe.

12/21/08

Norilsk halts Tati nickel ops after fault at BCL smelter

Source: miningweekly.com

HAILEYBURY (miningweekly.com) – The world’s biggest nickel producer, Russia’s Norilsk Nickel, will halt its Tati mine and concentrator in Botswana for 12 days, after a furnace breakdown at the smelter that processes most of the concentrate from the mine.

The company will assess its options during the shutdown, and will place its employees on formal paid leave, the firm said in a statement.

The sharp decline in nickel prices, plus the failure at the smelter, which processes 90% of the concentrate produced at the Tati nickel mine, had prompted the suspension of operations.

Nickel traded above $22/lb in 2007 but has since fallen sharply, to around $4,2/lb, as slowing global economic activity dampens demand for the metal, which is used to make stainless steel.

Read More...


12/20/08

Mixed Views On $17.4 Billion Auto Bailout

Source: cbsnews.com

There’s been a mixed reaction so far to President Bush’s promise of $17.4 billion in loans to troubled U.S. automakers.

Congressional Republicans don’t like the idea of using money from the $700 billion bailout program intended for banks and other financial firms, and the union representing autoworkers says this is too harsh on its members.

President-elect Barack Obama, praised the administration’s action but warned, “The auto companies must not squander this chance to reform bad management practices and begin the long-term restructuring that is absolutely necessary to save this critical industry and the millions of American jobs that depend on it.”

Read More...


12/11/08

Diesel Fuel Prices versus Gasoline Prices

Source: tcbiodiesel.com

History has it that the gasoline prices have been higher than the diesel fuel prices. But then again, this does not always hold true. During some winters, the demand for distillate heating oil increases which also raises the price of diesel fuel—so much so that is becomes more expensive than gasoline.

Read More...


12/10/08

Dedicated to Decorative

Source: pfonline.com

Valley City Plating (VCP) has been around a long time—the Grand Rapids, MI-based company began providing decorative finishing services to local furniture and other manufacturers in 1897.
Motorcycle

VCP’s current owners, Jeff and Jon Rasche, acquired the company from their parents in 2002. Shortly after the current owners took over, they began experiencing problems with nickel/chrome plated parts for a major customer, Honda motorcycles.

Read More...


12/09/08

Meltdown of non-ferrous metal market

Source: AmericanRecycler.com
Fears of a prolonged recession, thanks to the world-wide credit crisis, is putting pressure on prices of non-ferrous metals, hurting scrap metal processing companies.

“We have witnessed a meltdown of pricing in the non-ferrous sector,” said Jeff Solomon, chief executive of Montreal-based Globe Metal Recycling Services, Inc.

“Low prices have a devastating effect on recyclers. With these low prices there is virtually no margin left on a wide range of (non-ferrous) items and these items will become part of growing inventories of unsold materials accumulating in scrap yards.”

Read More...


12/05/08

NASF Elects Officers for 2009

Source: metalfinishing.com

The National Association for Surface Finishing (NASF) has announced the names of the new officers and board members for 2009.

The appointments are as follows:
Michael Siegmund, MacDermid, Inc., Waterbury, Conn., has been selected to serve as the president of the trade association for 2009. He will succeed Ray Lucas, Valley Chrome Plating, Inc., Clovis, Calif., who has completed a two-year term.

Read More...


12/05/08

Countdown to SUR/FIN 2009

Source: metalfinishing.com

The “ Bluegrass State” will roll out the “red” carpet for metal finishers, suppliers, end users, and OEMs on June 16–17, 2009. That’s when the participants of SUR/FIN 2009—the North American surface finishing industry’s premier trade show and technical conference—are expected to descend on the Kentucky International Convention Center in Louisville to network, preview new products, and share best business and operational practices.

Read More...


12/01/08

US chemical industry wary of facilities danger list

Source: rsc.org

The US chemical industry is concerned about the potential impact of a report, released by a liberal think tank on 19 November, which lists the nation’s 101 most dangerous chemical manufacturing and water treatment plants and urges Congress to develop stricter safety standards.

Read More...