Metalico, Inc. stated that it is not aware of any events dictating recent declines in its stock price amid unusually heavy volume but speculated they may be the results of aggressive short selling and/or stockholders not completely understanding the company’s recent debt restructuring.
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of October total 4,382,000 net tons (NT).
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 3,892,000 net tons (NT) of steel in September, including 2,946,000 NT of finished steel (up 5.2 percent and 5.2 percent, respectively, vs. August final data).
The Aluminum Association has disclosed membership growth, additions to its board and the election of a new member to its leadership team.
Novelis officially opened the world’s largest aluminum recycling center.