What's Happening in Markets
Staff -- Purchasing, 8/11/2005
- Metals buyers will be serviced by fewer Ryerson Tull processing and stockholding facilities when the service center giant completes the integration of the 125 facilities across North America now operated by its Joseph T. Ryerson & Son, J.M. Tull Metals and Integris Metals units. However, the consolidation probably won't be completed for another year to 18 months.
- Aluminum Corp. of China, the nation's biggest alumina producer, plans to boost aluminum production by 30% and alumina output by 10% this year, Chinese news sources. A Hong Kong-based newspaper said the company aims to produce 7.5 million tons of alumina, up from 6.82 million tons this year, and 1 million tons of aluminum, an increase of 230,000 tons over last year's level.
- "It is pretty clear our industry was impacted by a large global inventory correction during the second quarter as customers consumed much more of our products than they purchased," said Jeff Lipton, NOVA Chemicals' president and CEO. "We saw a number of positive signs in June indicating that customers were again buying to meet their full production needs, and we expect the third quarter to begin a return to stronger business conditions for our industry and NOVA Chemicals."
- Demand is surging for desktop and laptop personal computers—rising 16.6% in the second quarter—despite previous predictions the PC market was evolving into a slower, cyclical business. Lower-priced PCs are triggering demand from consumers and businesses worldwide, notes IDC Research. Desktop systems that once cost $1,000 now are available for $300. Laptops also recently crossed the $1,000 barrier; some low-end models cost just $600.
- Chipmaker Intel predicts increased demand for chips in the current quarter. Intel had a 15% second-quarter jump in revenue—and sees another 16% sales increase this quarter. Advanced Micro Devices, the perennial challenger in microprocessors, reports second quarter unit sales of its chips rose 38% from a year-ago.
- Crompton Corp. and Great Lakes Chemical Corp. have completed their merger to become Chemtura Corp., the fourth-largest domestic specialty chemicals company and the world's largest plastics additives company.
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