[Ferro-Alloys.com] Elkem’s result for the third quarter of 2019 was relatively strong given the challenging market conditions. Macro-economic uncertainty, trade conflicts and the downturn in automotive have negatively impacted the market for Elkem’s products and resulted in lower sales volumes for specialty products and declining market prices for commodity products. The relatively strong result reflects Elkem’s good cost positions, as well as attractive and leading market positions.
China's steel output posted steady growth in the first three quarters amid increasing market demand while the steel enterprises saw shrinking profit due to rising cost, according to an industry association.
Crude steel output totaled 748 million tons in the first nine months, up 8.4 percent year-on-year, while the output of cast iron went up 6.3 percent from a year ago to 612 million tons, showed data from the China Iron and Steel Industry Association (CISA).
US coal miner Murray Energy has filed for Chapter 11 protection due to the weakening role of the fossil fuel in the country’s energy mix.
Murray Energy is the latest to join a string of coal companies that filed for bankruptcy as the US power market is replacing coal with cheaper options such as cleaner-burning natural gas and renewable energy.