more stories

Hanlong secures majority control of Aussie Moly Mines

Business | Metallurgical industry
2009-11-19

SICHUAN Hanlong Group gained majority control of Australia's biggest molybdenum mine for US$200 million in what was the biggest investment in that country by a privately owned Chinese company, the firm said yesterday. ...

---

Safway group gets an 'owner solution'

Business | Metallurgical industry
2009-11-17

GERMAN steel maker ThyssenKrupp AG has sold its industrial services unit North American Safway Group to a private equity company based in New York, Odyssey Investment Partners LLC. Thyssen, headquartered in Duesseldorf,...

---

Deal to sell new mine output to Chinese

Business | Metallurgical industry
2009-11-14

AN Australian iron ore producer announced yesterday that it had sold the expected first five years of production from a new mine to Chinese customers. Centrex Metals Ltd announced it had signed a five-year sales...

---

Steel producers urged to find strength in unity

Business | Metallurgical industry
2009-11-11

CHINA would encourage mergers and restructuring in the steel sector to help forge three to five producers with sharp international competitiveness, the Ministry of Industry and Information Technology said in a statement...

---

Lease deal: Baosteel, ALD unite

Business | Metallurgical industry
2009-11-11

BAOSTEEL Group's investment arm has teamed up with ALD Automotive to set up a vehicle-leasing firm in Shanghai, the two companies said yesterday. The joint venture, ALD Fortune Auto Leasing (Shanghai) Co, has...

---

Trading suspension sparks talk of merger

Business | Metallurgical industry
2009-11-10

TWO listed units of Shandong Iron and Steel Group have been suspended from trading as analysts forecast the parent plans to merge them into a single company as part of its consolidation efforts. The move comes...

---

Trade dispute heats up while Obama visit nears

Business | Metallurgical industry
2009-11-7

CHINA blasted the United States yesterday for launching preliminary dumping duties on Chinese-made steel pipes and announced an investigation into imports of American-made autos as a trade conflict escalated a little...

---

Steel wire draws US duties

Business | Metallurgical industry
2009-11-5

THE United States has said it set preliminary duties ranging from 2 percent to 438 percent on hundreds of millions of dollars of imported steel wire decking from China to offset government subsidies. It was the...

---

Baosteel ready for lower sales

Business | Metallurgical industry
2009-11-3

CHINA'S Baoshan Iron and Steel Co, the country's largest steel maker, yesterday said its scheduled maintenance will lower product sales in the fourth quarter by 200,000 tons from the third. The maintenance will...

---

Rusal seeks to raise exposure

Business | Metallurgical industry
2009-11-3

UNITED Co Rusal, the world's biggest aluminum producer, expects China to account for 10 percent of its revenue by 2015 from this year's 5 percent. The Russian company, which has revived a plan for a Hong Kong...

---

Cautious note on Q4 earnings

Business | Metallurgical industry
2009-10-31

BAOSHAN Iron and Steel Co expressed caution on its earnings in the current quarter after it posted its highest earnings in five quarters. "The company faces adverse external factors in the fourth quarter," it said,...

---

Aussies Give Go-ahead For Baosteel Deal

Business | Metallurgical industry
2009-10-31

AUSTRALIA has approved Baosteel Group Corp's bid for a 15-percent stake in its iron ore explorer Aquila Resources Ltd. The Foreign Investment Review Board gave the green light to Baosteel's proposed A$285.6-million...

---

Chinese Steel Wire Strand Imports Scrutinized

Business | Metallurgical industry
2009-10-29

THE United States government announced preliminary determination in the countervailing duty investigation on imports of prestressed concrete steel wire strand from China, according to a statement released by the Commerce...

---

ArcelorMittal shows signs of recovery

Business | Metallurgical industry
2009-10-29

ARCELORMITTAL SA, the world's largest steel maker, yesterday posted a US$903 million profit in the third quarter, its first after three consecutive quarterly losses. ArcelorMittal CEO Lakshmi Mittal said the July-September...

---

Chalco returns to profit in Q3

Business | Metallurgical industry
2009-10-28

ALUMINUM Corp of China Ltd, the world's most valuable aluminium maker, returned to profit after three quarterly losses, and analysts said surging demand should keep it profitable in 2010. Rival Alcoa Inc surprised...