ThyssenKrupp Will Not Sell Automotive Unit

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ThyssenKrupp will not be selling its automotive unit, as reported by weekly magazine Focus.  The magazine “said in an advance release of an article to be published in Monday’s edition that ThyssenKrupp, struggling with billions of euros of debt and a loss-making Steel Americas business, had asked potential investors for indicative offers for its automotive operations,” reported Reuters.

A spokeswoman for ThyssenKrupp called the report “nonsense” and noted that the company “[wants] to develop the business further strategically.”

Rising 2.6 percent to close at $14,140 per metric ton, the spot price of nickel experienced the biggest change on the LME for Friday, September 20. On the LME, the nickel 3-month price gained 2.4 percent to finish at $14,200 per metric ton. The cash price of primary Indian nickel rose 0.4 percent.

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly was unchanged.

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The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat. The price of Chinese 316 stainless steel scrap saw little movement. The price of Chinese 304 stainless steel scrap continues to hover for the fifth day in a row. The price of Chinese primary nickel saw little movement last Friday.