The overall production volume for stainless steel is forecast to amount to around 3m tonnes at the end of 2011 which will increase demand for nickel demand on the global market according to Merchant Research & Consulting. In accordance with increased demand supply will rise relatively quickly from newly planned and on-launch projects leading to a surplus in 2012 and 2013.

The United States Magnetic Materials Association (“USMMA”), a trade association dedicated to restoring a competitive, secure, end-to-end rare earth supply chain to support the domestic manufacturing of rare earth permanent magnets, welcomes the inclusion of important and timely rare earth-related language in the Fiscal Year 2012 National Defense Authorization bill (H.R. 1540) that was passed by the House Armed Services Committee last night. The USMMA lauds the leadership of Representative Mike Coffman (CO-6), whose amendment recognizes current supply-chain vulnerabilities, focuses the Department of Defense on establishing an inventory of required materials, and encourages domestic manufacturing in this critical area.

U.S. number three coal producer and supplier of some 4% of the country’s electricity announced a successful $297.7m bid for an additional tract at its Antelope mine in Wyoming. The new lease would add approximately 350m tons of mineable coal to Antelope, doubling its reserves and adding 12 years of production. The U.S. Bureau of Land Management also recently announced a June 15, 2011 sale date for the West Antelope II South Coal Tract, which contains approximately 56 million mineable tons, according to BLM estimates.

Colorado Rare Earths announced today that initial sampling during claim staking has returned high levels of the Heavy Group Rare Earth Elements (HREE). The results, based on grab samples from the Company’s claims at Iron Hill, a.k.a. Powderhorn, and Wet Mountains locations in Colorado, were analyzed by Actlabs, www.actlabs.com, of Ontario, Canada. A United States Geological Survey report, released in December 2010, “The Principal Rare Earth Elements Deposits of the United States,” identified the Iron Hill Complex and Wet Mountains Area as the only two rare earth elements deposits located in Colorado.

Reliance Steel & Aluminum Co. (NYSE:RS) reported today its financial results for the first quarter ended March 31, 2011. For the 2011 first quarter, Reliance reported net income of $92.3 million, up 107% from 2010 first quarter net income of $44.7 million, and up 134% from $39.5 million in the 2010 fourth quarter. Earnings per diluted share were $1.23 in the 2011 first quarter, up 105% from 2010 first quarter earnings per diluted share of $.60 and up 132% from $.53 for the 2010 fourth quarter. Sales for the 2011 first quarter were $1.91 billion, up 32% from 2010 first quarter sales of $1.45 billion, and up 21% from 2010 fourth quarter sales of $1.58 billion.