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Saturday, January 13, 2007

Secondary industry meetings - scrap metal industry

JAN. 28 -- Institute of Scrap Recycling Industries, Northern Ohio Chapter and Pittsburgh Chapter, Squaw Creek Country Club, Youngstown, Ohio; joint chapter meeting.

JAN. 29 -- Institute of Scrap Recycling Industries, Indiana Chapter, Varsity Club, Conseco Fieldhouse, Indianapolis; chapter meeting.

JAN. 30-FEB. 2 -- Institute of Scrap Recycling Industries, Marriott Waterside Hotel and Marina, Tampa, Fla.; operations forum.

FEB. 10 -- Institute of Scrap Recycling Industries, New Jersey Chapter, Hyatt Regency, New Brunswick, N.J.; OSHA and regulatory compliance program and chapter meeting.

FEB. 10-11 -- Institute of Scrap Recycling Industries and Steel Manufacturers Association, Hyatt Regency at Union Station, St. Louis, Mo.; Steel Scrap 101.

FEB. 11 -- Institute of Scrap Recycling Industries, Mid-America Chapter, Hyatt Regency Union Station, St. Louis, Mo.; consumers' night.

FEB. 18 -- Institute of Scrap Recycling Industries, Ohio Valley Chapter, Waterfront Restaurant, Covington, Ky.; chapter meeting.

FEB. 20 -- Institute of Scrap Recycling Industries, Pacific Northwest Chapter; chapter meeting.

MARCH 30-APRIL 2 -- National Association of Demolition Contractors, Renaissance Resort, Orlando, Fla.; annual convention.

APRIL 6-9 -- Southeast Recycling Conference, Hilton Garden Inn, Pensacola Beach, Fla.; conference and trade show.

APRIL 8-12 -- Institute of Scrap Recycling Industries, Marriott Orlando World Center, Orlando, Fla.; annual convention and exposition.

MAY 22-23 -- Institute of Scrap Recycling Industries, Northern Ohio Chapter, Ohio Valley Chapter and Pittsburgh Chapter, Mountaineer Race Track and Gaming Resort, Chester, W.Va.; joint chapter meeting.

AMM weekly scrap composites - Scrap - scrap metal prices by US region

AMM WEEKLY SCRAP COMPOSITES

Averages calculated each Friday,
based on data effective from the
previous Friday-Thursday. Prices are in
US$/gross ton.

NO. 1 HEAVY MELT
-- calculation date --

05/30/03 Prior Wk Year Ago

Chicago $100.50 $100.50 $93.50
Philadelphia 107.00 108.00 101.00
Pittsburgh 114.50 114.50 110.50
Composite $107.33 $107.67 $101.67

SHREDDED SCRAP
-- calculation date --

05/30/03 Prior Wk Year Ago

Birmingham $129.00 $129.00 $114.00
Chicago 125.00 125.00 110.00
Houston 112.00 112.00 113.00
Philadelphia 115.50 116.70 119.00
Pittsburgh 127.00 127.00 121.00
Composite $121.70 $121.94 $115.40

Metal Management reduces loss, sales climb 20% in qtr - Scrap

Metal Management Inc. posted a 20-percent increase in sales for the quarter ended Dec. 31, spurred by strong offshore demand for ferrous scrap.

Despite the revenue gain, the Chicago-based scrap processor reported a net loss of $272,000 for its fiscal third quarter compared with a $6.4-million net loss in the same year-earlier period. Operating earnings totaled $4.3 million in contrast to an operating loss of $3.1 million a year earlier.

For the nine months ended Dec. 31, the company said its consolidated net sales grew to $555.9 million, net income totaled $13.4 million and operating earnings were $25.2 million. No figures were provided for the prior nine-month period because the company was in Chapter 11 bankruptcy protection for part of that time. Metal Management emerged from bankruptcy June 29, 2001, and adopted "fresh start" accounting. As a consequence, the company said the results after that date were not comparable with the predecessor company's sales and earnings.

Albert A. Cozzi, Metal Management's chairman and chief executive officer, pointed to the year-to-year gain in operating performance and said the company was continuing to work to improve its margins, particularly in the ferrous business.

Softer demand for ferrous scrap usually affects the company's operating results in its fiscal third quarter, Cozzi said, but Metal Management was able to offset that decline by capitalizing on opportunities in the export market.

Total processed ferrous scrap metal shipments were slightly less than 1 million tons for the quarter, up 60,000 tons from the year-earlier period.

Looking ahead, Cozzi said the company was seeing improved pricing and demand from the ferrous markets. "The export market also remains active, and domestic prices for some ferrous grades of scrap metal have hit three-year highs," he said, adding that weakness in manufacturing had reduced the flow of industrial scrap to the company's yards.

Metal Management managed to reduce its debt by $28.3 million in the nine-month period ended Dec. 31. In a separate statement, the company said that effective Feb. 14 it had agreed with its bank group to extend the maturity date of its credit agreement to Jan. 1, 2004. Cozzi said that Metal Management was continuing to explore alternatives to refinance its 12.75-percent secured notes.

METAL MANAGEMENT INC.
(in thousands)

2002 2001

3rd qtr. ended Dec. 31
Net sales $169,546 $141,265
Net income (loss) (272) (6,405)

Friday, January 12, 2007

Adhesive bonds glass and metal in seconds

Multi-Cure[R] 605 Series, suited for glass and glass-to-metal assembly, produces invisible bonds and exhibits resistance to moisture and thermal cycling. Capable of forming acceptable bonds on irregular surfaces, adhesives can fill irregularities in bonded joints and cure through thickness of 1/4 in. within seconds when exposed to 365 nm UV light. Multi-Cure[R] feature enables material to be cured with heat or DYMAX activators in areas that light cannot reach.

A new line of adhesives from DYMAX[R] Corporation, called Multi-Cure[R] 605 Series, for glass, and glass to metal assembly, exhibits a wide range of high performance properties including excellent tensile shear, high clarity, and exceptional peel and impact strength.

Multi-Cure 605 glass bonders are ideal for automotive glass and fixture assembly, and for bonding trophies, glass furniture, lighting, stemware, crystal figurines, architectural glass, glass art and novelties. Key characteristics that make the 605 Series adhesives suitable for these applications include invisible bonds, high adhesion, toughness and durability, as well as resistance to moisture and thermal cycling. Though most applications require the joining of mating surfaces, the 605 Series forms acceptable bonds where irregular surfaces cause less than perfect fit. The adhesives can fill irregularities in bonded joints and cure through a thickness of 1/4" in seconds, to create stronger bonds and better seals.

Besides delivering the highest levels of strength, durability and appearance, DYMAX adhesives are formulated to cure in only a few seconds upon exposure to moderate intensity 365 nm wavelength UV light. Fast cures provide optimized productivity in automated and hand assembly processes. Additionally, DYMAX 605 Series glass bonders do not cure until exposed to light to allow for precise positioning prior to bonding. Even under intensities as low as 10 mW/cm[sup.2] many of the adhesives are capable of full cures in as little as 30 seconds and may even be cured using "black light". Their Multi-Cure[R] feature means they can also be cured with heat or DYMAX activators in areas that light cannot reach.

Multi-Cure 605 Series adhesives are available in several viscosities, from very low viscosity to non-flowing gels for easy dispensing. They are 100% solvent-free and worker friendly.

DYMAX Corporation is a technology-based company specializing in the formulation, manufacture and service of advanced assembly adhesives and light curing systems.

Inserts can accelerate metal removal

Millstar has developed the Marathon ball insert for use when performing multi-axis machining of dies, molds and similar free-form 3D surfaces. The product incorporates a helical design, which is said to be useful for a variety of applications, and the company's V-pocket clamping system.

The cutting edge allows the insert to perform all operations in materials that are less than 42 Rc. In semi-finishing, and finishing operations, the product can be used with materials that are more than 42 Rc.

The geometry allows for smooth cutting action, which is said to diminish heat build up.

Plastic Cup is metal detectable

Complete with handle, Detectamet Plastic Cup offers capacity of 400 ml and comes in blue, red, green, and yellow. It is produced from specially formulated material based on high-impact food contact approved polypropylene. Material can be detected and rejected by typical metal detection machines used in food processing industry. Cup is virtually unbreakable and will work in environments ranging from -30 to +80[degrees]C.

E-Components & Chains Limited of Pocklington UK is pleased to announce the launch of their Detectamet Metal Detectable Plastic Cup. The Detectamet Cup complete with handle has a capacity of approximately 400ml and comes in a range of 4 colours:

Blue, Red, Green & Yellow, the Detectamet polymers in all colours are now certified and conform to current European and American legislation (EU90/128 and FDA regulations), governing the use of plastics in Direct Contact with food.

Other Detectamet products in this range include: Colour Coded Shovels, Paddles, Forks, Hand Scoops, Scrapers and Stirrers, Pens, Buckets etc.

The "Detectamet" Cup has been specifically developed for the food/pharmaceutical processing industries etc and adds a new dimension to the claims of using "all due diligence" .

The "Detectamet" Cup has been produced from a specially formulated material based on high impact food contact approved polypropylene. This material has the ability to be detected and rejected by typical metal detection machines used in the food processing industry.

Typical benefits associated with the "Detectamet" Cup are:

- Food contact certificates held

- Even the smallest of Particles are detectable and rejectable

- X-ray visible

- Prevents damage to delicate and expensive equipment

- Cost effective against other materials

- Tough and durable

- Easy to clean

- Virtually unbreakable

- Will work in temperature environments of between -30 degrees C to +80 degrees C

We can also investigate special products/applications for customers.

Thursday, January 11, 2007

Wylde time; Black Label Society scores sweet metal band revenge

When "Mafia," the latest album from Zakk Wylde's Black Label Society, debuted in Billboard's top 20 earlier this month, it signified more than a career chart high for the guitarist and singer.
With no media hype, modest airplay and a video relegated to fringe time slots, the success of "Mafia" proved that there's an audience out there hungry for gritty, guitar-based, groove-filled metal, served up old-school style with plenty of solos.
Wylde, who brings Black Label Society to The Rave tonight, sees the accomplishment as part of a movement that includes brethren such as Velvet Revolver, Audioslave and other bands determined to muscle aside the sensitive rockers, American Idols and oiled-ab rappers who have dominated music and pop culture in recent years.
And yes, Wylde happily admits that Black Label Society's success is some sweet revenge.

"When I was looking for a label, I kept hearing, Dude, this music's done. It's finished. You should get more like Limp Bizkit. This whole Hell's Angel-biker-berserker-Viking thing you got going isn't doing anything for you,' " Wylde recalled in a phone interview.
"Now Black Label Society is at No. 15. Where the hell is Limp Bizkit?" the guitarist added with a chuckle.
His big break: Ozzy
Wylde, 37, got his start in the mid-'80s playing in Springsteen country the rock-loving clubs and bars of the Jersey shore. The guitarist's big break came in 1987, when he was tapped by Ozzy Osbourne to provide ax support for the metal master, a gig Wylde has had on and off ever since.
"Everyone was saying, He's damaged goods, he's done,' " Wylde said of the reaction he received from music industry executives, who felt his close affiliation with Osbourne made him hopelessly out of date.
"I felt I should be proud of the fact that I was part of the lineage of Randy Rhoads and Jake E. Lee," said Wylde, referring to Osbourne's previous, iconic guitarists.
Over time, Wylde ascended to guitar god status as well, with his own "signature" line of customized Les Paul guitars, Marshall amps and even effects pedals. Fans posting giddy online reviews of "Mafia" credit him with bringing back the guitar solo, a largely lost art among the nu-metal crowd.
But Wylde is quick to distance himself from the six-string egomaniacs who noodle away endlessly onstage while fans check their watches.
"For me, the guitar solos are the icing on the cake. But you've got to have the cake to put icing on, you know? You have to have the song," said Wylde, who learned a good deal about hooks and melody from Osbourne.
"Ozzy was my education. That was where I learned. That was my alma mater and I'm (expletive) proud of it," Wylde said.
Ozzfest, the long-running summer metal package tour headlined by Wylde's mentor, gave the guitarist a chance to show off his master's degree in headbanging. Performing sometimes with Osbourne, sometimes with Black Label Society and, on occasion, pulling double duty, Wylde refined his personal style and sound. The look was biker gear, the music was big, boozy, blues-based and swaggering metal, and the talk was, well, mostly unprintable in a family newspaper.
Friend and fellow Ozzfest alum Rob Zombie captured Wylde's persona onstage and off best when he described the guitarist as "a Viking who fell off his longboat drunk and wondered, Where the hell am I?' "
Mellowness and mayhem
Chatting with Wylde by phone does have a quality of good-natured mayhem to it, as the guitarist's boisterous ramble swings without warning from his current set list which he described as "supple yet sassy" to his plans to make a "Mel Brooks, Monty Python-esque" spoof of the cult gang war classic, "The Warriors," starring all of his metal friends.
"Someone said, You do understand none of your friends have any acting ability,' " Wylde said, interrupting himself with laughter.
"It's going to be the worst movie ever," he added with delight.
Wylde has his mellower side as well, showcased on the 2004 Black Label album "Hangover Music" and on the "Mafia" track "In This River." The ballad, featuring Wylde on piano, is dedicated to his friend and fellow guitar great, the late Darrell "Dimebag" Abbott, who was shot and killed in December while performing onstage.
Wylde's voice loses its rowdier edge when he talks about Abbott for a minute.
"I got pictures of him on my nightstand, all around my house. . . . I have his phone number. I call him every day," said Wylde.
Then he chuckles again, remembering Abbott's legendary fondness for both practical jokes and Crown Royal whisky.
A round in God's tavern'
"Now, whenever something goes wrong on the road, we just look at each other and say, This has to be a joke Dime's playing on us now from where he's sitting, up in God's tavern with Randy (Rhoads) and Jimi (Hendrix) and Bon Scott and everyone else,' " Wylde said.
He added merrily, "Man, there ain't going to be any Crown left up there.

Heavy metal poisoning

Definition
Heavy metal poisoning is the toxic accumulation of heavy metals in the soft tissues of the body.
Description
Heavy metals are chemical elements that have a specific gravity (a measure of density) at least five times that of water. The heavy metals most often implicated in human poisoning are lead, mercury, arsenic, and cadmium. Some heavy metals, such as zinc, copper, chromium, iron, and manganese, are required by the body in small amounts, but these same elements can be toxic in larger quantities.
Heavy metals may enter the body in food, water, or air, or by absorption through the skin. Once in the body, they compete with and displace essential minerals such as zinc, copper, magnesium, and calcium, and interfere with organ system function. People may come in contact with heavy metals in industrial work, pharmaceutical manufacturing, and agriculture. Children may be poisoned as a result of playing in contaminated soil.
Causes & symptoms
Symptoms will vary, depending on the nature and the quantity of the heavy metal ingested. Patients may complain of nausea, vomiting, diarrhea, stomach pain, headache, sweating, and a metallic taste in the mouth. Depending on the metal, there may be blue-black lines in the gum tissues. In severe cases, patients exhibit obvious impairment of cognitive, motor, and language skills. The expression "mad as a hatter" comes from the mercury poisoning prevalent in 17th century France among hatmakers who soaked animal hides in a solution of mercuric nitrate to soften the hair.
Diagnosis
Heavy metal poisoning may be detected using blood and urine tests, hair and tissue analysis, or x ray.
In childhood, blood lead levels above 80 µg/dL generally indicate lead poisoning, however, significantly lower levels (>30 µg/dL) can cause mental retardation and other cognitive and behavioral problems in affected children. The Centers for Disease Control and Pevention considers a blood lead level of 10 µg/dL or higher in children a cause for concern. In adults, symptoms of lead poisoning are usually seen when blood lead levels exceed 80 µg/dL for a number of weeks.
Blood levels of mercury should not exceed 3.6 µg/dL, while urine levels should not exceed 15 µg/dL. Symptoms of mercury poisoning may be seen when mercury levels exceed 20 µg/dL in blood and 60 µg/dL in urine. Mercury levels in hair may be used to gauge the severity of chronic mercury exposure.
Since arsenic is rapidly cleared from the blood, blood arsenic levels may not be very useful in diagnosis. Arsenic in the urine (measured in a 24-hour collection following 48 hours without eating seafood) may exceed 50 µg/dL in people with arsenic poisoning. If acute arsenic poisoning is suspected, an x ray may reveal ingested arsenic in the abdomen (since arsenic is opaque to x rays). Arsenic may also be detected in the hair and nails for months following exposure.
Cadmium toxicity is generally indicated when urine levels exceed 10 µg/dL of creatinine and blood levels exceed 5 µg/dL.
Treatment
The treatment for most heavy metal poisoning is chelation therapy. A chelating agent specific to the metal involved is given either orally, intramuscularly, or intravenously. The three most common chelating agents are calcium disodium edetate, dimercaprol (BAL), and penicillamine. The chelating agent encircles and binds to the metal in the body's tissues, forming a complex; that complex is then released from the tissue to travel in the bloodstream. The complex is filtered out of the blood by the kidneys and excreted in the urine. This process may be lengthy and painful, and typically requires hospitalization. Chelation therapy is effective in treating lead, mercury, and arsenic poisoning, but is not useful in treating cadmium poisoning. To date, no treatment has been proven effective for cadmium poisoning.
In cases of acute mercury or arsenic ingestion, vomiting may be induced. Washing out the stomach (gastric lavage) may also be useful. The patient may also require treatment such as intravenous fluids for complications of poisoning such as shock, anemia, and kidney failure.
Prognosis
The chelation process can only halt further effects of the poisoning; it cannot reverse neurological damage already sustained.
Prevention
Because exposure to heavy metals is often an occupational hazard, protective clothing and respirators should be provided and worn on the job. Protective clothing should then be left at the work site and not worn home, where it could carry toxic dust to family members. Industries are urged to reduce or replace the heavy metals in their processes wherever possible. Exposure to environmental sources of lead, including lead-based paints, plumbing fixtures, vehicle exhaust, and contaminated soil, should be reduced or eliminated.

Textile Liner insulates metal air ducts

LinaTex offers fabricators and installers abuse-resistant insulation for lining sheet metal air ducts. It is made from 100% post-industrial recycled, long strand fiberglass bonded with thermosetting resin. Airstream surface is protected from damage during fabrication by black fiberglass mat surface, and edge-coating covers leading edges per NAIMA/SMACNA requirements. Liner complies with ASTM C 1071 thermal and acoustical performance standards.

Denver, Colo. (November 10, 2004) - New LinaTex textile fiber duct liner from Johns Manville offers fabricators and installers a tough, resilient, abuse-resistant insulation for lining sheet metal air ducts. JM's introduction of a textile liner rounds out the company's comprehensive line of high performance duct insulations.
LinaTex is a flexible duct liner made from 100 percent post-industrial recycled, long strand fiber glass bonded with a thermosetting resin. The airstream surface is protected from damage during fabrication by very durable black fiber glass mat surface. A factory-applied edge-coating covers the leading edges per NAIMA/SMACNA requirements. The liner complies with the thermal and acoustical performance standards listed in ASTM C 1071.

To learn more about tough, resilient LinaTex duct liner from Johns Manville, visit JM at AHR Expo booth #2741, go online to www.jm.com/ahs, or call the JM Product Information Center at (800) 654-3103.
Johns Manville, a Berkshire Hathaway company, is a leading manufacturer and marketer of premium-quality building and specialty products. In business since 1858, the Denver-based company has sales in excess of $2 billion and holds leadership positions in all of the key markets that it serves. Johns Manville employs about 8,500 people and operates 43 manufacturing facilities in North America, Europe and China.

Wednesday, January 10, 2007

Seeing red over copper scrap

A provincial government in China has announced its intention to grow as a leading copper scrap processing center for that nation.
According to the Interfax news agency, provincial leaders in Zhejiang have "laid out a strategic plan for the local copper processing industry, to increase output and raise the sector's technological level."
A spokesperson from Zhejiang Economic and Trade Commission (ZJETC) has told Interfax that the privately-owned copper smelting and refining companies in Zhejiang produce 36 percent of all copper products in China each year.
ZJETC indicates the province, located in the central part of China's Pacific Coast, produces 1.2 million tons of copper products per year, and, unlike many other Chinese copper producers, Zhejiang's manufacturers are not located near copper mines, making them more dependent on scrap. Cities in Zhejiang include Ninbo and Hangzhou.
"Companies normally purchase copper raw materials from the Shanghai Futures Exchange or use copper scrap," says Mac Gongzhong, an official with an agency that reports to ZJETC.

The ZJETC goal is to boost annual production to 3.65 million tons of copper products per year by 2010, according to Interfax.
Provincial leaders have identified five counties within the province that offer several strengths for future copper industry growth, including the location of copper scrap importers and scrap yards and the location of electronic appliance plants and hardware distributors "forming stable industrial chains with copper processing manufacturers"
The province plans to offer "policy, tax and financial measures" to help support additional copper industry growth. As quoted in the Interfax report, Mac says the provincial government will encourage copper products exporting. "The current production mainly serves the domestic market, as China is a large consumer of copper products. But we still support companies to ... bring in foreign investment and to enlarge their sales via exports."

Forward motion: wheeled Fuchs scrap handlers keep metal moving at Sand Springs Metal Processing

Operations Manager Brian McCuistion has to make sure ferrous scrap is loaded, unloaded, properly stored and then properly blended at the Sand Springs Metal Processing Corp. (SSMPC) yard in Sand Springs, Okla. His job has become more manageable with the addition of a fleet of four Fuchs scrap handling machines.
The yard creates scrap charges for the adjacent Sheffield Steel Corp. electric are furnace mill in Sand Springs. Keeping a steel mill fed with scrap means downtime must be avoided at all costs and gains in productivity are welcomed enthusiastically. McCuistion says the Fuchs machines score on both counts.
SSMPC took delivery of its first Fuchs 360 machine nearly three years ago, and the company has subsequently added two more 360s as well as a Fuchs 350 handler. All of SSMPC's Fuchs machines move around the yard on rubber tires. As they have been phased in, they have replaced tracked models that the company formerly operated.
"We noticed a big difference right away in the loading of scrap into rail cars," says McCuistion of the Fuchs difference. "We can also get over and unload a truck a lot quicker."

The increased mobility has helped the four machines quickly perform a variety of tasks on the 13-acre site. The wheeled Fuchs models are also able to cross railroad tracks without the risk of damaging the steel rails.
In addition to being able to cross tracks with confidence, McCuistion says operators also like the user-friendly joystick controls and the air conditioned cabs. "It can get mighty hot in Oklahoma in the summer," he notes.
SSMPC is also happy with the five-tined grapple Fuchs sells with its machines. "We handle a lot of borings, turnings and shredded scrap," McCuistion remarks. "Before the five-tine grapple, a lot of the smaller material was falling out as we loaded a car. Now it is retained in the grapple, meaning we can load faster and all material stays in the blend for a better mix."
Fuchs provides another advantage with its rapid attachment change-out time. "It used to take two people 30 to 45 minutes to change attachments. Now one person can get it done in 20 minutes," says McCuistion.
McCuistion credits Fuchs and his Fuchs dealer, Roadbuilders Machinery in Kansas City, Kan., with fulfilling SSMPPC's scrap handling requirements to a tee. "Roadbuilders and Fuchs have done a fantastic job."

Tuesday, January 09, 2007

MSA/RMDAS™ monthly ferrous scrap price index

New This Month: RMDAS[TM] Ferrous Scrap Price Index
Recycling Today is proud to introduce to these pages monthly ferrous scrap pricing researched and compiled by the Raw Material Data Aggregation Service (RMDAS) of Management Science Associates, Inc. RMDAS data is based on information gathered from a statistically significant compilation of verified ferrous scrap purchase transactions.
Reported regional aggregated spot market prices per gross ton shown for each commodity are based on all Management Science Associates' (MSA) Raw Material Data Aggregation Service (RMDAS) participants' actual order data submitted to and processed by MSA as of the 20th of each respective "buy month," rounded to the whole integer. A map of RMDAS regions is available at www.RecyclingToday.com, as is a further explanation of RMDAS methodology and an accompanying disclaimer.
No. 2 Shredded Scrap is defined as containing .17 percent or more copper content. The Prompt Industrial Composite consists of an average of #1 bundles and #1 busheling. Additional pricing information on each grade can be found at www.RecyclingToday.com.
[c] 2006 Management Science Associates, Inc. All rights reserved. RMDAS[TM] is a trademark of Management Science Associates, Inc.April 2006 RMDAS Ferrous Price Index
NORTH
TOTAL U.S. CENTRAL/EAST
Prompt Industrial Composite $294 $296
#1 HMS $243 $244
#2 Shredded Scrap $257 $259
#2 Shredded/Change vs. Month Before +$12 +$13
NORTH MIDWEST SOUTH
Prompt Industrial Composite $292 $281
#1 HMS $243 $242
#2 Shredded Scrap $254 $256
#2 Shredded/Change vs. Month Before +$11 +$13

Monday, January 08, 2007

India cuts import duty on metals to 7.5% from 10%

The Indian government has slashed the customs duty on import of alloy steel, primary and secondary nonferrous metals to 7.5% from 10%. The import duty cut will impact metals such as alloy steel, copper, aluminium, zinc and lead. Finance Minister Palaniappan Chidambaram Tuesday announced the duty cut in Parliament, while unveiling the government’s budget plan for the fiscal year 2006-07 (Apr-Mar).
“I propose to reduce duty on alloy steel and primary and secondary nonferrous metals to 7.5% from 10%. This will also be the rate of duty for ferro alloys,” Chidambaram said.Duty on steel melting scrap hikes to 5%
“In 2004-05 (Apr-Mar), in view of high international price of steel, the customs duty on steel melting scrap was cut to 0%. With the price of steel coming down, I restore the duty to 5%,” Chidambaram said. “I also propose to reduce duty on ore and concentrate to 2% from 5%,” Chidambaram said. This will benefit copper smelters like Hindalco Industries and Sterlite Industries, which import copper ore/concentrates.

China bars foreign control of steel companies

China on Wednesday unveiled its first blueprint for the iron and steel industry in which foreign steel giants have been barred from acquiring majority share in domestic steel companies and the threshold of entry for global entities into the booming market has been raised.
Foreign investors have not yet been allowed to take the lion’s share in China’s steel and iron companies, the new policy released by the National Development and Reform Commission, said. The document is China’s first state policy on the iron and steel sectors, Xinhua news agency said, noting that it has raised the industrial threshold for foreign investors into China’s steel and iron industry.
According to the new policy, foreign steel companies must have “full intellectual property rights on iron and steel technologies” if they want to invest in China.