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Progress in Anshan, Benxi steel merger by the year's end

ANSHAN, Liaoning - The merger between Anshan Iron & Steel Group and Benxi Iron & Steel Group will make substantive progress by the year's end, Anshan Steel Chairman Zhang Xiaogang said on Friday. Anshan Steel announced in 2005 that it agreed to acquire Benxi Steel to form Anben ...

Aquila Resources says China Development Bank to aid coal, steel projects

Aquila Resources Ltd, a partner with Vale SA in Australia, made an initial agreement with China Development Bank Corp to develop its iron ore and steelmaking coal projects. "China Development Bank will actively support Aquila both in Australia and China, in the investment in and ...

Baosteel targets 66m-ton capacity by 2015

Baosteel Group Corp, the nation's second-biggest steelmaker, said Monday in its five-year plan that it targeted annual crude steel capacity of 50 million tons by 2012 and 66 million tons by 2015, the China Securities Journal reported Tuesday. In 2007 the company said it wanted to ...

Ruyi to finalize Renown stake in late July

Textile firm to leverage Japan firm's brands, network and management JINING, Shandong - Chinese textile manufacturer, Shandong Ruyi Group, said it expected to finish its 41 percent purchase of Japanese clothing maker Renown Inc on July 28, with the deal already approved by the ...

China should cut foreign ore to one-third of needs: CISA

China, the biggest buyer of iron ore, should reduce supplies by foreign companies to just one-third of its requirements by 2015 by boosting domestic output and investing overseas, the China Iron & Steel Association said. Imports rose 4.1 percent in the first half from a year ago, ...

Steel firms may face losses in H2

Profits at China's large-scale steel enterprises in June fell 37.8 percent from a year ago due to higher raw material costs and declining product prices, the country's steel association said on Friday. At an internal meeting, China Iron and Steel Association general secretary ...

Ansteel officially became parent of Pangang

The restructuring ceremony of Anshan Iron and Steel Group (Ansteel) and Pangang Group Company was held Thursday, making Ansteel the new official parent company of Pangang and reducing China's State-owned steel mills from four to three, the Shanghai Securities Journal reported ...

Hebei Steel still China's top mill in H1

SHANGHAI- China's Hebei Iron & Steel Group remained the country's biggest steel producer in the first half of the year after raising crude steel output by 26 percent from a year earlier, the company said on Thursday. It said in a statement posted on its website that it produced ...

China's Shougang halts operations in Beijing

China's major steelmaker Shougang said it plans to halt its main steelmaking operations in the Shijingshan district of Beijing by Dec 31, Reuters reported. The main facilities include ironmaking workshops, coking plants, steelmaking workshops and high-speed wire rod mills, which ...

CNOOC signs Australian CSG energy accord

BEIJING - China National Offshore Oil Corp (CNOOC), the country's largest offshore oil and gas producer, signed a deal on Wednesday with Australia's Exoma Energy Ltd for a 50 percent direct investment in a coal seam gas project (CSG) in Queensland. It's the Chinese company's ...

Galaxy eyes advanced project

Galaxy Resources Ltd, aiming to become the world's fourth-biggest producer of lithium-carbonate used in mobile phones, is looking to purchase advanced projects as demand grows for alternate, cleaner energy sources. "We are looking at different opportunities around the world to ...

Baosteel chief urges innovation in downturn

SHANGHAI - There is no King Canute to turn the tide for China's steel smelters who are wrestling with a below-average profit margin in the industrial sector, but greater efforts in structural adjustment, consistent innovation and less pollution may pay off in the long run, said ...

Chinese steel mills pay $26b more for iron ore imports

The Chinese steel industry paid much more for iron ore imports last year because of the soaring prices, resulting in lower profitability or even losses for some steel makers the Economic Information Daily reported Wednesday, citing information from an internal industry meeting. ...

Giant steel firm forges ahead

BEIJING - Hebei Iron and Steel Group Co Ltd, China's biggest steelmaker by output, said on Monday that it agreed to take 10 percent stakes in seven private steel mills in an alliance that will expand production capacity and enhance consolidation in Hebei province's fragmented ...

Brazilian Vale to sell iron ore at higher price

The Brazilian iron ore exporter Vale SA (Vale) will raise the iron ore export price to China by 8.8 percent to $149.2 per ton in the first quarter, Reuters reported Monday. Vale will calculate the price according to the average Platts' Iron Ore Index Fe benchmark IODBZ00-PLT from ...

China's steel trading firm listed in ASX

SYDENY - A leading Chinese steel trading firm managed to get listed in Australian Securities Exchange (ASX) on Thursday, as the market opened the trading day at 11 am of Sydney local time. Rongtai International Group Holdings Limited aimed to issue 15 million ordinary shares at ...

E China to reduce dyeing capacity for environment

HANGZHOU - China's "textile town" Shaoxing county is set to reduce its annual textile printing and dyeing capacity by 710 million meters of textile before Sept 15, in a bid to save energy and cut emissions, sources with the county government said Wednesday. The reduction is about ...

Chemical company boss appeals 11-year sentence for environmental crimes

A chemical company boss who was sentenced to 11 years in prison for criminal enviromental negligence leading to a tap-water contamination scandal appealed his ruling Monday. Sources from the Intermediate People's Court in Yancheng, Jiangsu province, told Xinhua Monday an appeal ...

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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