Ottawa is taking promised steps to prevent aluminum and steel from entering Canada as a way to circumvent trade measures that led to the U.S. lifting tariffs earlier this year. Starting Sept. 1, certain aluminum products will be added to the Import Control List (ICL) under the Export and Import Permits Act. Importers…
The Tamil Nadu Pollution Control Board (TNPCB) on Friday sprang a surprise on Vedanta Ltd. by producing before the Madras High Court samples from what it claimed to be around 3.25 lakh tonnes of copper slag dumped on 1.8 acres of land inside the Sterlite plant in Thoothukudi. Justices T.S. Sivagnanam and V. Bhavani…
A month has gone by since the last earnings report for Reliance Steel (RS). Shares have lost about 5.5% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Reliance Steel due for a breakout? Before we dive into how investors…
U.S. Steel said on Friday it will idle a plant in Indiana by mid-November as part of the consolidation of its till mill operations in the United States, a move which could result in lay-offs for nearly 150 employees. The news comes days after the Pittsburgh-based company revealed its plans to let go of up…
Turkey’s military pension fund has reached a tentative deal to buy British Steel out of insolvency. The Turkish Armed Forces Assistance Fund (known as Oyak) says it plans to take over British Steel, which employs 5,000 people, by the end of the year. British Steel owns the Scunthorpe steel works where 3,000 people work…
