ArcelorMittal is exploring a joint venture spinoff of its stainless steel business, worth an estimated $3bn (£1.82bn), in a sign that the biggest steelmaker is contemplating scaling back. Driven on by Lakshmi Mittal, chairman and main owner, the group has expanded on the back of acquisitions including the €26.9bn (£23.2bn) purchase of Arcelor of Luxembourg in [...]

UK supplier and processor of stainless steel slit coil Brite Band company Ltd have appointed administrators the P&A partnership of Sheffield (Full listing at the bottom of the page). The business was run by Jonathon Hanson, the Hanson family have been established in processing stainless steel narrow coil for over 30 years. The Brite Band [...]

Outokumpu the finish stainless steel manufacturer posted second quarter losses of  94 million euros ($133.4 million) in April-June from a 174 million profit a year ago. This was slightly better than the forecast figure by industry experts of 104 million euros. CEO Juha Rantanen siad in a statement “Despite the continued rather heavy operating loss, [...]

Outokumpu the Finish based stainless steel supplier have confirmed surcharges for delivery of stainless steel in August 2009. As forcast not only have the rising nickel  and Molybdenum prices increased surcharges but also the Ferro Chrome increase has effected 430 (1.4016) as previously forcast here surcharges. A snapshot is listed below:- 1.4301 (304) 849 EUR /728 [...]

Japan’s largest nickel producer, forecast a “substantial recovery” in demand in the six months starting October as the company’s output returns to full production. “Demand for electronics materials is recovering and stainless steel mill output is improving,” Akira Nozaki, general manager at the nickel sales and raw material division, said yesterday in an interview in Tokyo. [...]