Nickel Hits 2-1/2 Year High
Fear of a strike at Norilsk, the world's largest nickel producer, has pushed LME nickel prices to the highest level since October 2000.

U.S. Steel Buying National Steel
America's largest steel maker, U.S. Steel, announced it will purchase bankrupt National Steel Corp. for $950 million. Once completed, the company will be the fifth-largest steel producer in the world.

BHP Billiton CEO Quits, Shares Fall
The surprise resignation of BHP Billiton's CEO Brian Gilbertson sent shares down 4% on the news. The resignation was announced Monday citing irreconcilable differences with the board.

Navy Warship to be Built from WTC Scrap Steel
Scrap steel from the World Trade Center wreckage will be used to build the USS New York, a new $800 million amphibious Navy warship. Construction on the vessel will start in 2003, and should be ready for active duty in 2007.

Employees to Buy and Reopen Bankrupt Steel Plant
The former employees of Cold Metals Products plan to buy and reopen the bankrupt Ohio steel plant. Included in the plan is about $2.5 million improvements to the plant, including new furnaces and upgrades to the rolling mill.

Researchers Develop Stronger Copper that Retains Ductility
Engineers at Johns Hopkins University have produced a new form of pure copper that is six times stronger than normal, with no loss of ductility. The strong metals could have applications in biomedical devices and microelectromechanical systems.

U.S. Metallurgists Develop New Steel
Oak Ridge metallurgists have developed a ferretic steel that may replace some of the most widely used alloys in the world. The new un-named alloy is five times as strong as carbon steel and twice as strong as the steel standard in Japan.

Shanghai Gold Exchange Opens
China's first gold exchange opened this week in Shanghai and is positioned to become a major international trading center for gold and other rare metals. The new exchange marks the deregulation of the gold market after decades of government monopoly.