Severstal North America Appoints New GM of Business Development

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Severstal North America has announced a new company face. According to the company’s press release, they have appointed “Dr. Prabhat (PK) Rastogi to General Manager, Business Development, Strategy and Innovation for key markets based in Dearborn, Mich.”

“In this position, PK will be responsible for business development, market strategies, product innovation and holistic approach to value creation. He will also assist and support Severstal’s automotive product and sales managers in implementing these strategies.”

“’PK brings the knowledge, skills and innovative strategies our company and industry needs right now,’ said Dennis Johnson, Vice President, Quality, Advanced Engineering and Continuous Improvement. ‘PK will also help us develop automotive strategies to enhance the benefits of our high quality steel products to our customer base.’”

“PK joins Severstal from ArcelorMittal where he was a Manager, Automotive Sales and Marketing for approximately seven years. In this position, he assisted in development of both the North American and global automotive strategy and execution for ArcelorMittal.”

In metal price news for stainless steel…

On Tuesday, February 4, the day’s biggest mover was the 3-month price of nickel, which saw a 1.0 percent increase on the LME to $13,875 per metric ton. This increase comes after the price fell for the two previous days. After falling for two days, the spot price of nickel rose 0.9 percent on the LME to $13,825 per metric ton. The cash price of primary Indian nickel saw little price change on Tuesday.

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome continues to hover for the fifth day in a row. The price of Chinese ferro-moly held steady.

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