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Nickel: Sumitomo’s profit rises 45% in second quarter
Japanese trading company Sumitomo Corp said Wednesday that net profit for the April-June quarter rose 45 percent to a record high, thanks to higher prices for raw materials such as coal and nickel and strong demand for steel products in North America. Net income for...
Aluminum: Hydro is expanding smelting capacity at its Pennsylvania plant
Norsk Hydro will add more than 50,000 tons per year of recycled aluminum capacity to its 240,000-ton per year billet extrusion plant in Cressona, Pennsylvania, by the end of 2024 to increase the recycled content of its products. This investment will strengthen the...
Aluminum: Arconic cuts sales outlook due to Tennessee plant outage
Arconic has lowered its full-year 2022 aluminum sales forecast, after raising it in May, due to tighter margins in its operations and an equipment outage at its Tennessee operations. The aluminum producer's revenue is now expected to be between $9.6 billion and $10...
Steel: ArcelorMittal cuts production at another German plant
ArcelorMittal has reduced working hours at its integrated steel mill in Eisenhüttenstadt, Germany, starting Monday, Aug. 1, due to low demand. ArcelorMittal Eisenhüttenstadt is applying reduced working hours to its flat-rolling lines during August and September to...