Countries

Solb Misr to pump $US 200m in investments

  DailyNewsEgypt – Gamal El-Garhy, chairman of Solb Misr Company, said his company plans to pump approximately EGP 1.6bn, or $200m, in investments during the coming period. “We have some investments that we are currently developing,” he said, adding that the investment plan will last till 2017. The company is ...

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Citigroup: Iron Ore Will Breach $50 on China Demand

  Bloomberg – Iron ore will slump below $50 a metric ton as steel demand in China, the world’s largest producer of the alloy, remains fundamentally weak and mining companies’ costs extend declines, according to Citigroup Inc. Chinese steel demand shrank in January and February from a year earlier, the ...

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North America: Primary Aluminium production declined in February 2015

  ِArabMetal – North America produced 348,039 tons of primary Aluminum in February 2015, down by – 3.64% compared to the production of 361,204 tons in February 2014. The majority of the decline due to lower production of the United States, in February 2015 to 129,626 tons, a decline by – ...

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China steel firms turn overseas as domestic woes mount

Reuters – Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. But the country's crisis-hit steel sector is calling for strong government backing for plans to ramp up foreign acquisitions, as it looks ...

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10.1 % rise in world’s primary Aluminum production in February 2015

  ArabMetal – International Aluminium Institute (IAI) announced that the total world production of primary Aluminum up to 4.504 million tons February 2014, an increase of 10.1% compared to the production of 4.091 million tons for the same period of last year. According to production figures announced by the Institute, «Arab ...

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China plans to resolve steel industry overcapacity by 2017 and aims to build 3 to 5 giant steel mills by 2025

Xinhua – China will accelerate the overhaul of its overly-invested iron and steel sector to bring it back to a "basically balanced level" by 2017, the industry ministry said. The Ministry of Industry and Information Technology (MIIT) said it would aim to bring industrial average profit rate and return on ...

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Crude steel production rises slightly in February 2015

  WorldSteel – World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 128 million tonnes (Mt) in February 2015, a 0.6% increase compared to February 2014.  China’s crude steel production for February 2015 was estimated at 65.0 Mt. The total production for January ...

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India: Iron ore, bauxite mines to be allocated through auction: Government

EconomicTimes – Mines of as many as 10 minerals including iron ore and bauxite will be auctioned for the first time under simplified and transparent rules to attract investment in the sector, Mines Minister Narendra Singh Tomar said today.  With Parliament approving the Mines and Minerals (Development and Regulation) Amendment ...

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China slowdown and Australian dollar fell iron ore, coal to fresh lows

  Slowdown in Chinese growth and lower Australian dollar against the US dollar, pushing the iron ore and coal prices to drop more in the coming period. Reuters reported that the key Asian mining markets are being thrown into crisis by China's slowdown and industrial reforms, with coal and iron ...

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USA: AK Steel to Report First-Quarter Loss as Steel Imports Rise

WSJ – AK Steel warned Thursday 19 March, that it would swing to a loss in its first quarter, due to unexpectedly high levels of steel imports. Shares in the company, down nearly 30% this year, fell 7.6% to $3.88 in recent after-hours trading. The West Chester, Ohio-based steel producer ...

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