Nickel prices surge almost 50% on the London Metal Exchange today | #UKmfg Focus
As Nickel prices rose almost 50% a major UK steel supplier suggests UK Manufacturers stockpile material.
This week’s focus topics also include:
– Rolls-Royce revenue increases by 7% to £7.4bn. Great news for the Aerospace sector.
The aerospace engineer yesterday maintained its forecasts for the year of producing about £700 million of cash and £700 million of operating profits, but its results for the first six months indicate that there is much to be done in the second half.
– Bombardier has won a $4.5 billion contract to build and operate two monorail lines in Cairo, a major boost for its Derby factory.
The company’s rail division was named the preferred bidder by the Egyptian Government for the contract earlier in the year, which includes supplying rolling stock to a new train line in Cairo.
– The government is close to entering exclusive talks with a Turkish military pension fund about the sale of British Steel, raising hopes that more than 4,000 jobs and the Scunthorpe steelworks can be saved.
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