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Ansteel plans to build JV in US

Anshan Iron and Steel Group Corp (Ansteel), a conglomerate based in Anshan, northeast China's Liaoning province, and the Steel Development Company, of the United States, have signed a memorandum of understanding (MOU) on jointly investing in a deformed steel bar manufacturing ...

Sinosteel taps Turkish market

With competitive prices and improved quality, China's steel giant Sinosteel Corporation is exploring the market potential in Turkey's steel industry as an equipment provider and contractor. The Sinosteel Equipment and Engineering Co Ltd (Sinosteel MECC), a subsidiary of Sinosteel...

Hunan Valin Steel amends profit forecast in 2009

Hunan Valin Steel Co, one of China's major steel makers, on Thursday amended the forecast of its 2009 net profit and expected it to return to the black. In a statement to the Shenzhen Stock Exchange, the Hunan-based company amended last year's net profit from losses of 220 ...

Bengang Steel Plates forecasts huge deficit for 2009

Bengang Steel Plates Co, China's leading steel plates producer, on Thursday forecast its net profits in 2009 would stand a loss of 900 to 950 percent from the previous year. In a statement to the Shenzhen Stock Exchange, Bengang Steel Plates said its net profits in 2009 would be ...

Anshan Steel's Fujian deal may signal coastal move

Anshan Iron & Steel Group, China's fourth largest steel maker, has agreed to help restructure the steel industry in Fujian province, indicating that the firm may build a new mill in the southeastern province. Anshan Steel and the Fujian provincial government signed a strategic ...

Bayer unit bolsters polymer project

SHANGHAI: Bayer MaterialScience, a unit of German industrial giant Bayer, has committed to continuing its investment in a toluene diisocyanate (TDI) project in Shanghai with the goal of expanding the production site, a top company executive said. The company, one of the world's ...

China Minmetals: 2009 profit down 50% on falling commodity prices

China Minmetals Development Co, the nation's leading non-ferrous metal producer, said on Thursday its profit slumped at least 50 percent in 2009 year on year as the global economic crisis dampened commodity prices. Stagnant coke exports and recession in domestic iron and steel ...

Rio Tinto employees charged with bribery

Four employees of Anglo-Australian mining giant Rio Tinto were charged with bribery and stealing trade secrets, a court statement said yesterday. The No 1 branch of the Shanghai People's Procuratorate laid the charges against Australian citizen Stern Hu, the former head of Rio ...

Chinese drywall enterprises facing US litigation

Expert opinion: Face the challenge and turn crises into opportunity The US Cable News Network (CNN) this week began broadcasting a 30-second commercial in Asia emphasizing that products "Made in China" are the result of profit sharing and cooperation between parties intertwined ...

Steel industry to continue restructuring

China is to speed up restructuring in the steel sector, supporting the development of three to five major steel enterprises in an effort to address the long-standing problems of overcapacity and low industry concentration, the Securites Daily reported Monday, citing a senior ...

CISA urges unified opposition to BHP-Rio JV

Every country should unite in opposition to a "monopolistic" production joint venture between the Australian mining giants BHP Billiton and Rio Tinto, China's steel industry association said on Thursday. The China Iron and Steel Association (CISA) said in an announcement ...

Steel mills flummoxed as spot iron ore prices head north

Surging spot prices of iron ore delivered to China have further complicated this year's negotiations with key suppliers. Price of the 63.5 percent iron-content ore rose to $129 per ton including freight yesterday, after India raised taxes on exports, up 6 percent from last week ...

Chemical firm plans expansion in Jiangxi

China National Chemical Corp (ChemChina), a national chemical producer, has signed an agreement with Boston, Massachusetts-based Cabot Corporation to expand their joint fumed-silica project in Jiangxi province. According to ChemChina, the move will strengthen the firm's specialty ...

Volcanic ash clouds cargo fate

Guangzhou - The volcanic ash cloud from Iceland that has cut off much of Europe from the rest of the world is choking the logistics sector of South China's Guangdong province, leaving some export/import dependent businesses playing a waiting game. "Our company has dozens of tons ...

BHP raises Q3 iron ore output by 11% to meet Chinese demand

BHP Billiton Ltd, the world's largest mining company, raised third-quarter iron ore output by 11 percent, less than Credit Suisse Group AG forecast, as demand from Chinese steelmakers surged. Output of the ore, the company's biggest earner in fiscal 2009, was 31.16 million tons ...

Foreign manufacturers shifting business to less developed Chinese regions

HEFEI - Unilever, the world's second-largest consumer goods maker, plans to significantly increase its investment in Hefei, a medium-sized city in east China's Anhui province. "We will invest 700 million yuan ($103 million) in our production base in Hefei to boost output value to ...

Cronimet Group inaugurates steel recycling plant in Shanghai

SHANGHAI - German steel recycling firm Cronimet Group on Friday inaugurated a plant in Shanghai in a bid to tap into China's potentially huge scrap steel market. The 54,000 sq m warehouse, located in the city's Baoshan district, involves a total investment of 15 million euros. It ...

Operations begin at Sinopec petrochem plant in Tianjin

JV with Saudi Basic Industries Corp seeks to tap fuel oil demand TIANJIN - Sinopec, China's largest refiner, officially put into operation a 34-billion-yuan ($4.98 billion) petrochemical complex in Tianjin on Tuesday, a move designed to tap growing demand for fuel oil and ...

Sinopec building oil reserve in Tianjin

TIANJIN - Sinopec, China's second-largest oil company, has begun construction of a commercial crude oil reserve base with a storage capacity of 3.2 million cubic meters in north China. With an investment of 3 billion yuan (US$439 million), the base would cover 68 hectares in the ...

Hebei Steel eyes more acquisitions

Hebei Iron & Steel Group is planning more mergers and acquisitions in China and abroad as part of a government drive to improve the country's mills. "We want to make further progress on mergers and acquisitions," Chairman Wang Yifang said at a press conference in Beijing Thursday...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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