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U.S. Stocks Tilt Lower - 2/8/2012 12:32:00 PM ET Key benchmarks slipped as investors once again focused on Greece. Energy stocks fell, and financial shares rose.
Greek parties 'to finalise deal' - 2/8/2012 12:22:00 PM ET Greek PM Lucas Papademos is meeting coalition parties in an attempt to seal an austerity deal to secure a new EU/IMF bailout.
Wall Street lower as Greece talks drag on - 2/8/2012 12:19:00 PM ET NEW YORK (Reuters) - Stocks gave up early gains on Wednesday as the Dow hovered at its highest level in nearly four years and investors waited for Greece to accept tough reforms in exchange for a new bailout.
Here's The REAL Reason So Many Old Men Freak Out About Inflation - 2/8/2012 12:18:00 PM ET
Markets turn lower by midday - 2/8/2012 12:13:00 PM ET Canada's benchmark stock index began Wednesday in positive territory but turned lower in late-morning trading on reports that inventories of crude oil in the U.S. rose last week, which hit energy producers.
Stocks fall as Greek talks drag on - 2/8/2012 12:01:00 PM ET NEW YORK (AP) -- Stocks are down as frustrations mount over whether Greece will hammer out a cost-cutting deal it needs to keep from defaulting on its debt....
Bosses in Cross Hairs on Wall Street - 2/8/2012 11:57:00 AM ET Goldman and Morgan Stanley clarified for the first time that managers are also on the line when firms seek to recover pay under 'clawback' policies.
Fear not the 'Glenstrata' giant, say coal customers - 2/8/2012 11:23:00 AM ET Big coal buyers should not fear the merger of miner Xstrata and trader Glencore into a dominant trading force, say customers who already rely on the two for supplies of coking coal for steel and thermal for power generation. They say the tie-up, creating the world's largest...
Greek party leaders begin crucial debt talks - 2/8/2012 11:16:00 AM ET ATHENS, Greece (AP) -- After three days of delays, Greek coalition leaders began crucial debt talks Wednesday with the prime minister to review a draft deal on steep cutbacks demanded by creditors in return for a euro130 billion ($170 billion) bailout....
Northern Trust Names General Auditor - 2/8/2012 11:14:00 AM ET CHICAGO--(EON: Enhanced Online News)--Northern Trust (Nasdaq:NTRS), a leading provider of financial services for affluent individuals, families and institutions, announced today that Kandace K. Heck has been named General Auditor, effective March 1, 2012. Heck succeeds Dan...
Fear not the "Glenstrata" giant, say coal customers - 2/8/2012 11:12:00 AM ET LONDON (Reuters) - Big coal buyers should not fear the merger of miner Xstrata and trader Glencore into a dominant trading force, say customers who already rely on the two for supplies of coking coal for steel and thermal for power generation.
Yukon-Nevada inks $20m gold forward-sales deal with Deutsche Bank - 2/8/2012 11:07:00 AM ET Yukon-Nevada Gold Corp on Wednesday said it agreed to sell future gold production forward to Deutsche Bank to fund operations and expansion at its Jerritt Canyon mine in Nevada. Under the agreement, Toronto- and Frankfurt-listed Yukon-Nevada is required to deliver 650 oz of...
Canada in wind power top 10 - 2/8/2012 11:03:00 AM ET New ranking shows the country at No. 9 with 5,265 megawatt of wind capacity
Flag Resources Makes Announcement - 2/8/2012 11:00:00 AM ET SUDBURY, Ontario--(BUSINESS WIRE)--Future exploratory drilling for Flag Resources, on its Sudbury, Ontario, area mineral holdings, includes a previous deep vertical drill hole into Laundry Lake, located 1 mile northeast of Wolf Lake, Mackelcan Township. Laundry Lake is the...
Research and Markets: United States Coal Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects, and Competitive Landscape - 2/8/2012 10:55:00 AM ET DUBLIN--(BUSINESS WIRE)--Research and Markets () has announced the addition of GlobalData's new report "United States Coal Mining Market Overview and Forecast to 2020: Trends, Fiscal Regime, Major Projects, and Competitive Landscape" to their offering. GlobalData's mining...
Housing Prices: Something's Gotta Give - 2/8/2012 10:48:00 AM ET
Wall Street edges up on Greece, Disney earnings - 2/8/2012 10:36:00 AM ET NEW YORK (Reuters) - Stocks edged higher on Wednesday as hopeful investors awaited the latest attempt by Greece to reach a deal on reforms in exchange for a new bailout.
Savings Squad: PRPPs will put savings in the wrong shelter - 2/8/2012 10:32:00 AM ET Malcolm Hamilton: 'If we want to improve the lives of low-income Canadians, we should not automatically collect contributions on the first $20,000 of earnings and we should use TFSAs, not locked-in RRSPs
Research and Markets: Asia Metals, Minerals and Steel Directory 2012: Comprehensively Researched and Prepared - 2/8/2012 10:29:00 AM ET DUBLIN--(BUSINESS WIRE)--Research and Markets () has announced the addition of the "Asia Metals, Minerals and Steel Directory 2012" directory to their offering. The pace of change in the Asian metals, steel and minerals industry is far greater than the global industry...
Stock Market Hits Pause - 2/8/2012 10:22:00 AM ET U.S. stocks opened flat as investors awaited the resolution of Greek political negotiations over a debt-restructuring deal that would allow the troubled European nation to avoid a default.
Trafigura in South Sudan oil row - 2/8/2012 10:21:00 AM ET Trafigura, the world's third largest oil trader, says it is reviewing whether crude oil it bought from Sudan belongs to South Sudan.
Goldman's van Praag to retire at end of March: memo - 2/8/2012 10:18:00 AM ET NEW YORK (Reuters) - Lucas van Praag, a Goldman Sachs partner and the global head of corporate communications for the firm will leave at the end of March, according to a memo obtained by Reuters.
Globecomm Awarded Equipment Acquisition and Engineering Services Contract from a Telecommunications Service Provider Valued at up to $11 Million - 2/8/2012 10:14:00 AM ET HAUPPAUGE, N.Y.--(EON: Enhanced Online News)--Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, announced today that its wholly owned subsidiary, ComSource has been awarded a one year Equipment Acquisition and...
Stocks inch higher as Greek talks drag on - 2/8/2012 10:08:00 AM ET NEW YORK (AP) -- U.S. stocks inched higher early Wednesday as traders wait for European leaders to hammer out a bailout deal for Greece....
Nickel vulnerable to weak China imports, slow demand - 2/8/2012 10:05:00 AM ET A month-long rally in nickel prices risks running out of steam as import demand from top consumer China eases due to a well supplied market and a lack of appetite in Europe saps demand for stainless steel. Benchmark nickel on the London Metal Exchange (LME) have risen more...
Mbalam project key to 'unlocking' new African iron-ore frontier - 2/8/2012 10:05:00 AM ET The Mbalam project is at the heart of an emerging iron-ore province that will be of considerable significance in years to come, Sundance Resources project director David Meehan told the Investing in African Mining Indaba in Cape Town on Wednesday. The Mbalam project, on the...
Wall Street churns as Greek talks drag on - 2/8/2012 9:42:00 AM ET NEW YORK (Reuters) - Stocks began a third lackluster day on Wednesday as investors remained hesitant as Greece struggled to complete a deal on reforms in Greece in exchange for a new bailout needed to avoid a messy default.
Freeport-McMoRan Copper & Gold Inc. Announces Senior Notes Offering - 2/8/2012 9:31:00 AM ET PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today that it intends to offer senior notes to the public in three tranches. FCX intends to use the net proceeds from the offering to redeem a portion of its outstanding 8.375% Senior Notes...
Art Cashin On Yesterday's Freakishly Low Stock Market Volume - 2/8/2012 9:23:00 AM ET
E.ON IT Embraces Convergys Smart Revenue Solutions across its Group - 2/8/2012 9:15:00 AM ET CINCINNATI--(EON: Enhanced Online News)--Convergys Corporation (NYSE: CVG) announced today that it has signed a new group-wide Framework Agreement with E.ON IT. E.ON IT GmbH is the IT function of E.ON AG, one of the largest private power and gas companies in the world. The...
Greek party leaders prepare for crucial debt talks - 2/8/2012 9:13:00 AM ET ATHENS, Greece (AP) -- Greek coalition leaders are preparing their responses to a draft deal on steep cutbacks demanded by creditors in return for a euro130 billion ($170 billion) bailout that will shield the country from a looming bankruptcy....
Wall Street set to open slightly higher on Greek hopes - 2/8/2012 9:12:00 AM ET NEW YORK (Reuters) - Stocks were set for a slightly higher open on Wednesday on optimism that the latest attempt by Greece to reach a deal on reforms in exchange for a new bailout would be successful.
Salvos Flying in Gupta Case - 2/8/2012 9:09:00 AM ET Prosecutors plan to unveil more instances in which former Goldman Sachs director Rajat Gupta allegedly shared inside information when the case against him goes to trial.
Extract expects uranium supply gap by the time Husab starts production - 2/8/2012 9:08:00 AM ET Less than four years after the Husab uranium deposit in Namibia was first discovered the project was now ready for development, Extract Resources CEO Jonathan Leslie told the Investing in African Mining Indaba in Cape Town this week. Leslie said that a mining licence for an...
Toreador to Webcast Special Shareholder Meeting - 2/8/2012 9:03:00 AM ET PARIS--(EON: Enhanced Online News)--Toreador Resources Corporation (Nasdaq: TRGL) announced today that it will webcast its Special Shareholder Meeting on Wednesday, February 15, 2012. The meeting will be held at 11:00 AM Central, at The St. Regis Houston, Ambassador Room,...
Research and Markets: Mining Industry in Indonesia - The Mining Industry in Indonesia is Anticipated to Grow by 10.9% from 2010 to 2015. - 2/8/2012 9:00:00 AM ET DUBLIN--(BUSINESS WIRE)--Research and Markets() has announced the addition of the "Mining Industry in Indonesia" report to their offering. The mining industry in Indonesia is anticipated to grow by 10.9% from 2010 to 2015. Indonesia is one of the world's largest producers...
NVMN Launches New Comprehensive Website Detailing Diamond Mining Business Developments - 2/8/2012 8:53:00 AM ET MARCELLUS, N.Y.--(BUSINESS WIRE)--NVMN Launches New Comprehensive Website Detailing Diamond Mining Business Developments
Credit Suisse Doesn't Think This Is A Sucker's Rally In Asia - 2/8/2012 8:45:00 AM ET
BlackRock's Larry Fink: BE 100% IN STOCKS - 2/8/2012 8:45:00 AM ET
USCorp to Attend Upcoming Southern California Investment Conference - 2/8/2012 8:30:00 AM ET LAS VEGAS--(BUSINESS WIRE)--USCorp exhibits at second investment conference in 2012 at Indian Wells, Calif. on February 11 and 12, 2012
Calculated Risk Is Wrong: There Is No Housing Bottom In Sight - 2/8/2012 8:13:00 AM ET
BHP warns of cutbacks and closures - 2/8/2012 8:00:00 AM ET BHP Billiton has warned of more closures of struggling assets and lower-than-flagged development spending.
Kloppers lost for words on 7pc slide - 2/8/2012 8:00:00 AM ET Not once did Kloppers mention that BHP's declared profit of $US9.94 billion ($9.17bn) was down 7 per cent.
Centennial coal to go offshore - 2/8/2012 8:00:00 AM ET THAILAND coal giant Banpu will seek to increase exports from its NSW coalmines to secure higher prices.
Union push puts pay at risk: Rio - 2/8/2012 8:00:00 AM ET MINING giant Rio Tinto has warned employees that their over-award pay and conditions are in jeopardy.
BHP changes US focus - 2/8/2012 8:00:00 AM ET BHP Billiton's recently purchased US shale gas business is set to become mainly an oil concern.
Xstrata deal faces investor revolt - 2/8/2012 8:00:00 AM ET GLENCORE is facing growing investor opposition to its marriage with Xstrata, as it fired the starting gun on the biggest mining merger in history.
Rio pours $3bn more into Pilbara - 2/8/2012 8:00:00 AM ET RIO Tinto has committed a further $US3.4 billion ($3.14bn) to expand its massive Pilbara iron ore operations -- a firm indication the mining giant expects increasing demand from China for the steelmaking commodity.
Namibia uranium deal on the boil - 2/8/2012 8:00:00 AM ET RIO Tinto is eager to secure a joint venture with the likely new owners of the huge Husab uranium deposit in Namibia.
Agreements held up by Fair Work laws - 2/8/2012 8:00:00 AM ET BHP Billiton chief executive Marius Kloppers has said workplace laws make it more difficult to negotiate enterprise agreements.
Taskforce to seek ways to save Alcoa - 2/8/2012 8:00:00 AM ET TED Baillieu is calling his ministers in to look for ways to keep Alcoa viable in the face of a high dollar and low commodity prices.
Research and Markets: the Aluminum Industry in China Expanded by 66.8% Last Year, Making China the Largest Single Producer and Consumer of Aluminum in the World - 2/8/2012 8:00:00 AM ET DUBLIN--(BUSINESS WIRE)--Research and Markets() has announced the addition of the "Aluminum Industry in China" report to their offering. The aluminum industry in China expanded by 66.8% last year, making China the largest single producer and consumer of aluminum in the...
Research and Markets: Copper Industry in China Grew by 56.8% Last Year and Accounted for $8 Billion in Revenues - 2/8/2012 8:00:00 AM ET DUBLIN--(BUSINESS WIRE)--Research and Markets() has announced the addition of the "Copper Industry in China" report to their offering. China is the largest copper producer and consumer in the world and its demand for copper will keep getting stronger in the future, led by...
BLOOMBERG MARKETS: Forget The BRICs, These Are The Most Exciting Emerging Markets In The World - 2/8/2012 7:54:00 AM ET
BLOOMBERG: Forget The BRICs, These Are The Most Exciting Emerging Markets In The World - 2/8/2012 7:54:00 AM ET
Rio Tinto to invest further US$3.4bn in Pilbara iron ore - 2/8/2012 7:27:00 AM ET Rio Tinto to invest further US$3.4 billion to expand its Pilbara iron ore operations in Western Australia.
Stock futures signal higher Wall Street open - 2/8/2012 7:19:00 AM ET NEW YORK (Reuters) - Stock index futures pointed to a slightly higher open for equities on Wall Street on Wednesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.2 to 0.3 percent.
Europe's Markets Rise - 2/8/2012 7:14:00 AM ET European stocks were modestly higher as investors hoped that Greek lawmakers were close to a deal on the restructuring of Greece's debt.
ANC mine study seeks new taxes, buries nationalisation - 2/8/2012 7:01:00 AM ET A study submitted to South Africa's ruling ANC to reform its vital mining sector proposes a 50% tax on profits and rejects nationalisation as an "unmitigated disaster" for Africa's largest economy. Although it delivers a hammer blow to calls for nationalisation by...
Arch Coal Takes Home Seven West Virginia Awards, Earns State's Top Environmental Award - 2/8/2012 6:57:00 AM ET Arch Coal, Inc announced that its Appalachian operations earned seven prestigious safety and environmental awards in West Virginia, including the state's top honor for mine reclamation. Coal Mac, Inc received West Virginia's top environmental achievement. The West...
IMX Resources update on Tomahawk prospect - 2/8/2012 6:55:00 AM ET IMX Resources can achieve a concentrate of up to 65% iron at a coarse grind size from the Tomahawk iron ore prospect, based on results from initial Davis Tube Recovery testwork. Preliminary metallurgical assessment of magnetite samples from Tomohawk indicate that the...
Zimbabwe new mining fees skyrocket - 2/8/2012 6:54:00 AM ET The government of Zimbabwe has raised the mining and license fees from between 500 to 5000% as per the state controlled local media. Diamond claim registration has gone from USD 1 million to USD 5 million. Application fees for coal investors have gone up from USD 5000 to...
Strategic Natural statement regarding IDC - 2/8/2012 6:51:00 AM ET The Board of SNR notes the recent statement made by the CEO of the Industrial Development Corporation of South Africa at the weekend confirming that the IDC would be funding the development of the Company's 74 per cent. owned subsidiary, Elitheni Coal (Pty) Limited and...
Brazil government would help Vale vessels to operate in China - 2/8/2012 6:49:00 AM ET Mines and Energy Minister Edison Lobao said that Brazil government is ready to help Vale SA in the negotiations with the Chinese government for its large vessels, which are able to carry about 400,000 metric tonnes of iron ore, to operate in the Asian country. Mr Lobao...
Vale transshipment operations start Feb 12 - Philippine port operator - 2/8/2012 6:46:00 AM ET The Philippine port operator said that Brazil's Vale will begin its iron ore distribution operations in the Philippines this weekend, from where the world's top miner of the raw material will transfer China bound ore carried by big ships. China barred Vale's giant dry...
Glencore and Xstrata seal merger but not all shareholders happy - 2/8/2012 6:44:00 AM ET Glencore International has agreed to buy Xstrata for $38 billion to create one of the world's largest resources companies.
Ferrex reveals impressive results in SA and Togo - 2/8/2012 6:43:00 AM ET Ferrex has revealed impressive results from its Malelane iron ore project in South Africa and Nayega manganese project in Togo. It said that both are on track to deliver maiden resources in the first and second quarters respectively. Mr Dave Reeves MD said that at...
Australian iron ore exports - 2/8/2012 6:41:00 AM ET Australia trade data shows that December saw a strong rebound in Australian iron ore exports, up 18% to an all time high of 46.2 million tonne (wet basis). This, in turn, ensured an annual total of almost 460 million tonne in 2011, up 9% on the corresponding 2010 level. ...
Encana’s pitch is about more than natural gas - 2/8/2012 6:40:00 AM ET Head of U.S. division hammers home company’s strategy on energy diversification
Encana’s pitch about more than natural gas - 2/8/2012 6:40:00 AM ET Head of U.S. division hammers home company’s strategy on energy diversification
Brazil to apply local supplier conditions to new mining contracts - 2/8/2012 6:40:00 AM ET Brazil, the world’s second largest iron ore exporter is seeking to apply local supplier requirements to new mining contracts, according to a government official who participated in drafting the industry’s new rules. The measures will require companies...
Rio Tinto announces board and committee changes - 2/8/2012 6:38:00 AM ET Rio Tinto announced that Mr John Varley has been appointed senior independent director of the boards of Rio Tinto plc and Rio Tinto Limited. He will succeed Mr Andrew Gould who, as previously announced, will retire from the boards at the conclusion of the 2012 annual...
Pike River explosion blamed on roof collapse - 2/8/2012 6:36:00 AM ET Pike River coal mine's deadly explosion has been blamed on a string events caused by a roof collapse.
Rio Tinto to invest USD 3.4 billion in expansion of iron ore operations in Western Australia - 2/8/2012 6:35:00 AM ET Rio Tinto has committed a further USD 3.4 billion (Rio Tinto share USD 2.9 billion) to the major expansion of its Pilbara iron ore operations in Western Australia. The investment comprises of 1. USD 2.2 billion (Rio Tinto 100%) to extend the life of the Nammuldi iron...
Indian copper sheds on weak global cues - 2/8/2012 6:33:00 AM ET PTI reported that tracking a weakening global trend, copper prices declined by INR 2.30 per kilogram to INR 416.55 per kilogram in futures trade as speculators offloaded their positions. The trading sentiment turned bearish after copper declined in global markets on...
Himalayan Capital signs agreement on Caballo Blanco project - 2/8/2012 6:32:00 AM ET Himalayan Capital Corporation announced that through its 100% owned subsidiary, Mineral Azul Ventures Limitada it has signed an option agreement to acquire 100% interest in the Caballo Blanco copper and iron project which is located close to the Company's La Higuera copper...
Trevali announces recent diamond drilling mineralization at Stratmat - 2/8/2012 6:29:00 AM ET Trevali Mining Corporation announced that recent diamond drilling at the Stratmat zinc, lead, silver and copper deposit in the Bathurst Mining Camp of northern New Brunswick has confirmed the presence of extensive massive sulphide mineralization. Results indicate a new,...
Elementos acquires option over highly prospective copper project in Chile - 2/8/2012 6:26:00 AM ET Elementos has secured an option to acquire a 90% interest in the Mercedes copper project in northern Chile which is located close to a cluster of world class porphyry deposits 60 kilometers east of the Chiquicamata mining district. Mercedes comprises 8,589 hectares of...
Tigray keeps hitting high grade copper in Ethiopia - 2/8/2012 6:24:00 AM ET Tigray Resources hit broader copper and polymetallic mineralization near a notable drilling result that it announced hitting late last year from its Terakimti prospect, part of its larger 70% owned Harvest project in Ethiopia. Back in December 2011, Tigray highlighted as...
Teck Chile copper miners weigh wage offer before strike vote - 2/8/2012 6:23:00 AM ET Bloomberg reported that copper workers at Teck Resources Inc’s Quebrada Blanca mine in Chile will vote on the company’s last wage proposal before deciding whether to go on strike at the 86,200 tonne per year unit. Mr Jorge Flores Union leader said that...
China still key to global copper demand - Standard Bank Group - 2/8/2012 6:21:00 AM ET Mr Walter de Wet Standard Bank Group's head of Commodities Research said that global copper consumption is expected to grow 1.2% in 2012 to reach 20,349 million tonnes with China accounting for the bulk of the demand. He said that within China, the health of the...
FMG looks beyond iron ore in South Australia - 2/8/2012 6:19:00 AM ET Fortescue Metals Group is exploring South Australia for copper, gold, and uranium in an effort to diversify beyond its Pilbara iron ore business.
Rio Tinto Pacific Aluminum could fetch USD 4 billion - Deutsche Bank - 2/8/2012 6:18:00 AM ET Reuters reported that Rio Tinto may have to swallow a cut price deal if it wants to get the sale of its aluminum division away. That’s the view of Deutsche Bank analysts who have slashed their valuation of Rio’s interests in six Australian and New Zealand...
National Aluminum profit falls more than expected on prices - 2/8/2012 6:16:00 AM ET National Aluminum Company of India posted a more than expected 80% decline in Q3 profit as prices of the metal fell and energy costs surged. Net income fell to INR 512.2 million or INR 0.2 per share in the 3 months ended December 31st 2011 from INR 2.56 billion or INR...
Maaden Alcoa aluminum JV pours first concrete for Middle East - 2/8/2012 6:15:00 AM ET The Ma’aden Alcoa aluminum JV announced that it has poured the first concrete in the construction of the region’s first alumina refinery at the fully integrated aluminum complex at Ras Al Khair. Once complete, the refinery will initially produce 1.8 million...
Rio Tinto annouces massive Pilbara expansions - 2/8/2012 6:15:00 AM ET Rio Tinto has announced a massive $3.1 billion expansion to its Pilbara iron ore operations.
Sumitomo Electric to launch Tungsten recycling plant - 2/8/2012 6:13:00 AM ET Sumitomo Electric Industries builds new recycling plant for used cemented carbide tool for more than JPY 2 billion. The group starts the operation in around August to recover monthly 5 tonnes of cemented carbide powder with rich tungsten. The group also builds line to make...
American Vanadium Corp grants stock options to CFO - 2/8/2012 6:10:00 AM ET American Vanadium Corporation has announced that it granted a total of 65,000 options at the exercise price of USD 0.77 to its CFO and a consultant. The stock options are granted pursuant to the company's Stock Option Plan, as amended, and are for a term of five years...
BHP Billiton posts strong first half profit - 2/8/2012 6:08:00 AM ET BHP Billiton has posted a first half profit of $9.2 billion, one of the biggest in Australia's history but short of analyst's predictions and the record it set last year.
Statoil benefits from higher oil prices - 2/8/2012 6:07:00 AM ET Norwegian group reports 34% increase in adjusted net income in Q4, helped by new discoveries in the North Sea and Barents Sea
Mr Palmer cuts bonuses for nickel refinery in Queensland as prices fall - 2/8/2012 6:07:00 AM ET Bloomberg reported that mining billionaire Mr Clive Palmer cut 2011 bonuses for workers at his nickel refinery in Queensland, who received cars and overseas holidays the previous year, because of falling prices and the rising Australian dollar. Mr Mark Kelly, a spokesman...
Margaret River coal mine vetoed - 2/8/2012 6:07:00 AM ET LD Operations proposed coal project in the Margaret River has been rejected by WA environment minister Bill Marmion.
Outokumpu plan job cuts in ThyssenKruppunit - Report - 2/8/2012 6:05:00 AM ET It is reported that the takeover of ThyssenKrupp's high grade steel group Inoxum by Finland's Outokumpu will create the world's largest stainless steel producer. But the move will cost hundreds of jobs in Germany and elsewhere. After buying the stainless steel unit...
InTouch Health and Platinum Training Partner to Provide a Comprehensive Suite of Remote Presence Video Collaboration and Broadcast Solutions for Surgeon Education across National Network of Surgical Skills Labs - 2/8/2012 6:03:00 AM ET SANTA BARBARA, Calif.--(EON: Enhanced Online News)--InTouch Health partners with Platinum Training in order to provide Remote Presence video collaboration and solutions for surgeon education through the RP-Vantage platform.
Aperam announces FY 2011 segment results - 2/8/2012 6:02:00 AM ET Sales in the fourth quarter of 2011 decreased by 6% to USD 1,436 million compared to USD 1,520 million in the third quarter of 2011. Shipments in the fourth quarter of 2011 were flat at 429,000 tonnes compared to 429 thousand tonnes in the third quarter of 2011. EBITDA...
Vietnamese steel product imports from China 2011 down by 23.7pct YoY - 2/8/2012 6:00:00 AM ET According to statistics released by Vietnamese customs, Vietnam imported 7.39 million tons of steel products in 2011, decreasing by 18.7% year on year. Among them, 1.93 million tonnes of steel products were imported from Japan, soaring by 10.6% YoY; 1.7 million tonnes...
Maruichi Steel Tube announces FY 2011-12 group estimates - 2/8/2012 5:59:00 AM ET Maruichi Steel Tube Limited has announced consolidated earnings estimates for the full year ended March 31st 2012.
Mr Mark of Forgemasters wins EEF Heroes of Modern UK Manufacturing Photography Competition - 2/8/2012 5:57:00 AM ET Sheffield's steel making prowess has been recognized in a national photography competition. Mr Mark Tomlinson operations director of Sheffield Forgemasters was announced winner of the EEF Heroes of Modern UK Manufacturing Photography Competition at EEF’s National...
State law requiring American made steel in public works projects upheld by 3rd Circuit - 2/8/2012 5:56:00 AM ET The 3rd US Circuit Court of Appeals has ruled that a Pennsylvania state law mandating that steel used in public works projects be made in the United States is not pre empted by federal law or unconstitutional. Mabey Bridge & Shore Inc, a Delaware corporation, argued that...
East Coast Economic Region eyeing MYR 10 billion investments in 2012 - 2/8/2012 5:55:00 AM ET The East Coast Economic Region in Malaysia has targeted to double its investments to MYR 10 billion for 2012, underpinned by interest from top Asian communities like China. Its industrial parks located within the Special Economic Zone are expected to drive these billion...
It Feels Like Something Is About To Happen... - 2/8/2012 5:54:00 AM ET
POSCO ranks 30th in Global 100 Most Sustainable Corporations in the World - 2/8/2012 5:54:00 AM ET POSCO was ranked 30th in the Global 100 Most Sustainable Corporations in the World announced by Corporate Knights, a Canadian economic magazine in the World Economic Forum in Davos, Switzerland on January 25th 2012 local time. Since 2005, Davos forum has announced the...
Sandvik announces report on Q4 2011 - 2/8/2012 5:53:00 AM ET Mr Olof Faxander president & CEO of Sandvik said that "Overall Sandvik's business was stable in the fourth quarter with good performance especially in Sandvik Tooling but also in Sandvik Mining and Construction. In Sandvik Materials Technology, the scenario was more...
Ajaokuta Steel workers to earn NGN 4.58 billion in 2012 - 2/8/2012 5:52:00 AM ET Despite the fact that the Ajaokuta Steel Company Limited is almost comatose, its workers will earn NGN 4.584 billion as salaries in 2012. The amount is 99.35% of the NGN 4.614 billion allocated to the company in the 2012 budget. The sum is under the heading of recurrent...
Jobs on the cards at Sheffield Forgemasters - 2/8/2012 5:51:00 AM ET It is reported that jobs are set to go at a Sheffield steel plant. Managers at Forgemasters have not yet confirmed the total number of workers they need to axe, but have started a 30 day consultation process, meaning at least 20 positions are at risk. Unions have been...
Iron Ore-Upturn stalls on slow China steel market - 2/8/2012 5:50:00 AM ET SINGAPORE - Iron ore steadied on Wednesday after a recent spike in spot prices spurred caution among buyers who are worried a slow steel market in top consumer China cannot justify sustained gains in prices of the raw material. Offers for imported iron ore in China were...
Hsin Kuang Steel net sales fell by 31pct YoY in January - 2/8/2012 5:50:00 AM ET Hsin Kuang Steel said that its unconsolidated sales in January 2012 fell by 31.02% to TWD 440,430,000 from TWD 638,475,000.
Newly formed Thamesteel task force to meet for the first time - 2/8/2012 5:49:00 AM ET BBC reported that a task force set up to deal with the aftermath of the closure of the Thamesteel plant on the Isle of Sheppey is to meet for the first time. The group was convened by Kent County Council after the company announced it had gone into administration. Of the...
Hanjin Steel Pipe to start production of 3 inch pipes for plumbing - 2/8/2012 5:48:00 AM ET South Korean pipe producer Hanjin Steel Pipe has announced that it plans to begin producing three inch steel pipes on February 10th 2012 at its Chonan No. 2 Plant for use in plumbing works. The new plant of the company will also be able to produce small size thick wall...
POSCO's steel output up by 10.7pct YoY in 2011 - 2/8/2012 5:47:00 AM ET It is reported that POSCO's steel production in 2011 hit its highest point ever at 37.32 million tonnes, up by 10.7% YoY as new production facilities went into operation. POSCO said that it spent KRW 613.3 billion in research and development, up by 28.8% YoY to develop...
4 of East Asian major steels post struggling results in 2011 - 2/8/2012 5:46:00 AM ET JMB reported that major 4 steel makers of China, South Korea and Taiwan reported struggling results in 2011. Anshan Iron and Steel of China reported net loss while other 3 makers posted lower net profit. Their steel price increase was smaller for higher raw materials cost...
BDI upward trend continues on February 7 2012 - 2/8/2012 5:45:00 AM ET It is reported that on February 7th 2012, Baltic Dry Index reached 660 points, up by 12 points as compared to February 6th 2012. Capsize
Gerdau Sidenor opens a recycling center in Guadalajara - 2/8/2012 5:44:00 AM ET Gerdau Sidenor has recently opened a scrap recycling facility of 24,000 square meters in the province of Guadalajara where the company receives and adapts the scrap for shipment to mills Reinosa and Basauri. As reported by the group in a statement, the facilities, with a...
AISI committed to working with USTR to correct errant decisions on zeroing - 2/8/2012 5:43:00 AM ET Mr Thomas J Gibson president & CEO of American Iron & Steel Institute issued the following statement on recent developments regarding longstanding zeroing disputes: "The American Iron & Steel Institute condemns the several rulings by the World Trade Organization against...
Japanese ferrous scrap export price slightly lowers at Kansai Tetsugen's tender - 2/8/2012 5:42:00 AM ET It is reported that Japanese ferrous scrap export price became JPY 30,800 per tonne FAS for H2 grade at an export tender held by Kansai Tetsugen, which is an association of scrap dealers around Osaka. The price was lower than JPY 31,270 of the previous tender on December...
Drill rig battle drags on - 2/8/2012 5:42:00 AM ET The fight over the GT3000 drill rig has heated up as Strange Investments seeks a court order to take possession of the rig.
US Steel eyeing completion of coke substitute project in 2012 - 2/8/2012 5:41:00 AM ET Officials from United States Steel Corporation affirmed that modules expected to make an alternative to the steelmaking input coke will start production in Gary in 2012. During a conference call with analysts on January 31st 2012, Mr John Surma, chairman & CEO of US...
Huge steel plate rolling machine now takes instructions from an iPad - 2/8/2012 5:40:00 AM ET The largest manufacturer of offshore wind towers in Northern Europe has ordered a new DAVI heavy four roll machine with the capability rolling steel 4.0 meters wide by 145mm thick. Davi President Mr Orazio said that "It's the largest four roll machine in the world...
CSC to develop high grade steel products to be profitable - 2/8/2012 5:39:00 AM ET CENS reported that China Steel Corporation will develop high grade steel products to be profitable, rather than compete with rivals from China, Japan and South Korea to raise capacity. Reiterating the above strategy, CSC's newly appointed president Mr JY Sung said that...
Nippon Metal sees a JPY 5.5 billion recurring loss for FY 2011 - 2/8/2012 5:38:00 AM ET Nippon Metal Industry announced that the firm expects JPY 5.5 billion of consolidated recurring loss for fiscal 2011 ending in March 2012 as compared with the breakeven outlook announced in October 2011. The firm also expects JPY 6 billion of the net loss compared with...
GMS weekly report on ship breaking industry for WEEK 05 2012 - 2/8/2012 5:37:00 AM ET The sheer volume of tonnage in the market pushed cash buyers to the limit this week with a number of vessels concluded and yet more proposed. The good news though is that all sub continent markets are back to the bidding at reasonably healthy numbers once again....
Register for International Surface Inspection Summit in March 2012 - 2/8/2012 5:36:00 AM ET With ISIS.INDIA 2012, the focus of the International Surface Inspection Summit will yet again be on the Asian market after the event was hosted in China in 2010. TEMA Technologie Marketing AG is organizing the conference, which will take place in Mumbai, India on 6 and...
US weekly raw steel production up by 6.9pct YoY - 2/8/2012 5:35:00 AM ET American Iron & Steel Industries reported that, in the week ending February 4th 2012, US domestic raw steel production was 1.907 million tons while the capability utilization rate was 77.2%. Production was 1.784 million tons in the week ending February 4th 2011, while the...
ArcelorMittal announces FY 2012 outlook and guidance - 2/8/2012 5:34:00 AM ET ArcelorMittal's EBITDA in H1 2012 is expected to be lower than H1 2011 but above H2 2011, supported by continued progress on management gains and asset optimization plans. The company expects steel shipments in the first half of 2012 to be at a similar level to first...
USA leads world steel price recovery - MEPS - 2/8/2012 5:33:00 AM ET According to MEPS International Limited, its US hot rolled coil benchmark selling figure increased in January 2012 by almost 4%. There has been a pick up in market activity and transaction values are likely to go even higher. Recent mill announcements, for cost driven...
ArcelorMittal announces Q4 and FY 2011 results - 2/8/2012 5:32:00 AM ET ArcelorMittal has announced results for the three and twelve month periods ended December 31st 2011. Financial highlights
2011 average selling prices for Severstal Russian Steel - 2/8/2012 5:28:00 AM ET Q3
Ukrainian PM sees economic advantage of coal usage if price tops UAH 1600 per thousand cubic meters - 2/8/2012 5:27:00 AM ET Ukrainian News Agency reported that Mr Mykola Azarov Prime Minister of Ukraine thinks usage of coal will be economically advantageous if the gas price exceeds UAH 1,500 of UAH 1,600 per thousand cubic meters. He said that "If the gas price exceeds fifteen of sixteen...
Azovstal summarizes technology works for 2011 - 2/8/2012 5:26:00 AM ET Azovstal Iron & Steel Works summarized work in the field of quality and extension of product mix for 2011. Last year specialists of Azovstal Iron & Steel Works mastered production of 37 new steel grades and more than 20 types of rolled products. Currently Azovstal Iron &...
VIDEO: Converting solar energy into new fuels - 2/8/2012 5:25:00 AM ET Researchers in Glasgow are working on a way to remove greenhouse gas from the atmosphere and put oil back under the North Sea.
Kazakhstan Railways increases supply of coal due to cold - 2/8/2012 5:25:00 AM ET Kazakhstan Railways said that Kazakhstan Railways sent more than 7.3 million tonnes of coal to consumers in Kazakhstan in terms of 6.5 million tonnes or 12% more than planned in the period from January 1st 2012 to January 31st 2012. It added that "The loading of coal...
Raspadskaya completes shares buyback of up to 10pct - 2/8/2012 5:24:00 AM ET Reuters reported that Russian coking coal miner Raspadskaya had completed its offer to buy back up to 10% of its shares at RUB 150 apiece, 34% above the closing share price. It said 1.01 billion shares had been offered by shareholders. The company, part owned by Mr Roman...
Metinvest to invest USD 8 billion into its Mariupol based steel works by 2020 - 2/8/2012 5:22:00 AM ET Metinvest, an international vertically integrated steel and mining group of companies, within the frames of its long-term development strategy implementation has declared it will be investing on average USD 1 billion every year through 2020 in development of its Azovstal...
Interpipe produced pipes from the first Dniprosteel heat - 2/8/2012 5:21:00 AM ET Interpipe rolled the first lot of seamless pipes, using the billets, produced at the new Dniprosteel electric steel-smelting complex. The first pipe was rolled at Interpipe NTRP plant, using a steel billet, produced in the course of the first heat. The first pipe passed...
Chinese domestic steel beam price movement on February 07 - 2/8/2012 5:20:00 AM ET Beam #25
Chinese domestic steel channel price movement on February 07 - 2/8/2012 5:19:00 AM ET Channel #16
Chinese domestic steel Angle price update on February 07 - 2/8/2012 5:18:00 AM ET Angle #5
Chinese domestic galvanized steel HDG prices remain flat on February 07 - 2/8/2012 5:17:00 AM ET HDG 0.5mm
Chinese domestic CR steel price update on February 07 - 2/8/2012 5:16:00 AM ET CR 1mm In
Chinese domestic narrow HR strip prices movement on February 07 - 2/8/2012 5:15:00 AM ET HR Strip 235*2.75
Chinese domestic pig iron prices remain flat on February 07 - 2/8/2012 5:14:00 AM ET Pig Iron Z18-22 Foundry
Chinese domestic steel plate price on February 07 - 2/8/2012 5:13:00 AM ET Plates 20mm Common Location In CNY In
Chinese domestic steel billet price update on February 07 - 2/8/2012 5:12:00 AM ET Billets 150*150 Q235
Chinese domestic steel wire rod price update on February 07 - 2/8/2012 5:11:00 AM ET WRC 6.5mm High Speed
Hanzhong Steel completes first phase of restoration project - 2/8/2012 5:10:00 AM ET Hanzhong Iron and Steel Company, subsidiary of Shaanxi Province based Shaanxi Steel Group has commissioned its new 265 square meter sintering machine, marking the completion of the first phase its restoration project following the earthquake which hit China's Sichuan...
Statoil earnings surge on higher oil, gas prices - 2/8/2012 5:09:00 AM ET OSLO, Norway (AP) -- Norwegian oil company Statoil ASA on Wednesday said its profits soared in the fourth quarter on higher oil and gas prices and a one-time gain from the sale of a stake in a gas transportation company....
Bayi Steel finished steel sales total 6 million tonnes in 2011 - 2/8/2012 5:09:00 AM ET Xinjiang Uyghur Autonomous Region based Chinese steelmaker Bayi Iron and Steel Company, a subsidiary of major Chinese steel group Baosteel has announced that in 2011 it sold 6.4930 million tonnes of finished steel, with 5.173 million tonnes of this volume sold locally in...
China electricity supplies to remain tight this year - 2/8/2012 5:08:00 AM ET China Daily quoted the China Electricity Council as saying that China will face tightened supplies of electric power this year with a shortage estimated to reach up to 40 million kilowatts. Both regional and seasonal power shortages will occur in 2012. According to the...
Hengyang Valin Steel tube sales total 1 million tonnes in 2011 - 2/8/2012 5:07:00 AM ET China's second largest seamless steel tube and pipe manufacturer Hengyang Valin Steel Tube Company a subsidiary of Hunan Province based Chinese steelmaker Valin Group has announced that in 2011 it sold 1.313 million tonnes of steel tubes and 386,000 tonnes of steel bars...
Tangshan Steel exports steel pipeline to South America - 2/8/2012 5:06:00 AM ET Tangshang Steel of Hebei Steel Group finishes the tubulation work in Venezuela of 3,000 tonnes of steel pipeline which is used for the third largest oil company in the world, PDVISA. The company speaks highly of Thanshan Steel’s product and shows inclination to further
Panzhihua Mining exceeds titanium concentrate output target in Jan - 2/8/2012 5:05:00 AM ET Sichuan Province based Chinese steelmaker Pangang Group has announced that its subsidiary Panzhihua Mining Company's titanium concentrate output reached 42,900 tonnes in January this year exceeding its targeted output by 2,900 tonnes. In 2011, Panzhihua Mining produced...
Meishan Steel successfully rolled high strength auto structural steel - 2/8/2012 5:04:00 AM ET Currently, Meishan Steel has successfully produced QStE550TM high strength structural steel used for automobile on a trial basis. (Source: ) China steel information centre and industry
Chinese domestic steel rebar prices movement on February 07 - 2/8/2012 5:03:00 AM ET Rebar 20mm HRB 400
GMS weekly report on Chinese ship breaking industry for WEEK 05 2012 - 2/8/2012 5:02:00 AM ET With festivities at an end, all eyes were on the Chinese market to see if they could replicate the form showed pre New Year. Unfortunately, the market opened up some USD 15 per LT LDT softer as many yards in both North and South, remain stuffed from the December to January...
Tangshan Steel exported 109000 tonnes of steel products in Jan - 2/8/2012 5:01:00 AM ET In the first month of 2012, Heibei Steel Tangshan Steel exported 109,000 tonnes of high value added products in January earning CNY 27 million. (Source: ) China steel information centre and industry
Chinese domestic HR steel prices on down path on February 07 - 2/8/2012 5:00:00 AM ET HRC 5.75mm Common
Chinese long product price index down by 12 points on February 07 - 2/8/2012 5:00:00 AM ET The Chinese Long Product Price Index CLPPI went down by 12 points on February 7th 2012, whereas the Chinese Flat Products Index CFPPI remains flatter. The overall price index CHISPI down by 6 points.	- 2/8/2012 5:00:00 AM ET Alcoa has announced a review into the future viability of its Point Henry aluminium smelter in Geelong.
China steel output slips 1pct in mid Jan - CISA - 2/8/2012 4:59:00 AM ET According to data issued by the China Iron and Steel Association, China produced 1.669 million tonnes of crude steel per day in the January 11st to 20th 2012 period down 1.3% compared with the previous 10 days. Production normally drops in January as construction...
Cold snap halves Turkmen gas exports to Iran - 2/8/2012 4:58:00 AM ET Turkmenistan’s Turkmengaz Company has halved its gas exports to Iran without any prior notice to some 10 million cubic meters. The Central Asian states have reduced its natural gas exports to Iran due to the harsh cold weather in the region. Mr Javad Owji head of...
Turkey eyes solution as Iran insists on unfair gas price - 2/8/2012 4:57:00 AM ET Experts said that a recent decision to take Iran to international arbitrary is proof that Turkey is trying its best to remain at the bargaining table and negotiate an impasse over the price of gas it buys from the Islamic Republic which it finds unfairly high while the...
Canada plan to sell oil to China faces hurdles - 2/8/2012 4:56:00 AM ET Gulf News reported that Mr Stephen Harper PM of Canada may still be smarting from Canada's failed bid to ramp up oil exports to the United States but his plan B could prove to be even tougher. Mr Harper heads across the Pacific this week in a bid to convince China to...
Iran will certainly halt oil export to some EU states - 2/8/2012 4:55:00 AM ET MNA reported that Iran will certainly stop exporting crude oil to some European Union countries in response to the recent oil embargo on the country. Mr Rostam Qasemi oil minister of Iran said that a decision by Iran to stop oil exports to some EU countries came after...
Schneider launches new data center solution - 2/8/2012 4:54:00 AM ET Trade Arabia reported that Schneider Electric, a global leader in energy management has launched an out of the box data center solution that can be installed and commissioned within 4 weeks of order. Preconfigured and pre tested, the data center comes complete with...
Iran issues ultimatum to India over Farzad B gas field - 2/8/2012 4:53:00 AM ET Iran has given 1 month ultimatum to an Indian consortium over the development of a gas field whose delay by India has been attributed to western pressure. Tension between Iran and the West rose last month when Washington and the European Union imposed the toughest...
Macroeconomic indicators - Libyan budget deficit to reach USD 10 billion - 2/8/2012 4:52:00 AM ET Albawaba cited Mr Mustafa Abdul Jalil chairman of the National Transitional Council as saying that the Libyan government estimates that its budget deficit will reach USD 10 billion this year leading to serious challenges in paying government employees and the country's...
Turkey turns to coal and nuclear power - 2/8/2012 4:51:00 AM ET FT reported that much of Europe may be moving towards cleaner power but in Turkey it is a different story. EUAS, the country’s state owned electricity company was due on Monday to sign a memorandum of understanding with two South Korean groups on USD 2 billion coal...
Siemens wins USD 1 billion Saudi power plant deal - 2/8/2012 4:50:00 AM ET Siemens has won a major order worth more than USD 1 billion for combined cycle power plant in Saudi Arabia. With an installed capacity of 4 GW IPP Qurayyah will be one of the world’s largest CCPPs. Siemens will supply key components for the plant which will supply...
Thar coal project Okayed by UK firm Oracle Coalfields - 2/8/2012 4:49:00 AM ET The Express Tribune reported that UK based Oracle Coalfields has results of its feasibility study on the Thar Coalfields has underlined its technical and economic viability. According to the report, the required total capital expenditure for open cast development is...
Turkey increases steel billet exports in January - 2/8/2012 4:48:00 AM ET According to the data provided by Turkey's Steel Exporters' Association, in January this year Turkey's total steel billet exports amounted to 269,902 tonnes increasing by 113% YoY and up 6.1% compared to the previous month. Meanwhile, in January the revenue generated by...
GMS weekly report on Pakistan ship breaking industry for week 05 2012 - 2/8/2012 4:47:00 AM ET Pakistani buyers were here to acquire units at levels approaching or similar to numbers from their neighboring India. Indeed the slight midweek retreat seen in India even put Gadani on par with their neighbors for a while. Steel prices remain strong and there are no such...
Oil may hit USD 160 amid tension - Kuwait official - 2/8/2012 4:46:00 AM ET AFP reported that oil prices could soar to as high as USD 160 per barrel if tension over an Iranian oil embargo persists or in the event of conflict. Mr Ali al Hajeri board member of Kuwait Petroleum Corporation said that "If the embargo on Iranian oil persists, or in...
Iranian steel market trend in week 05 2012 - Flat products - 2/8/2012 4:45:00 AM ET Flat products market was volatile during last week in Iran. HRC 2 mm was around USD 976 per tonne and then dropped to USD 879 per tonne and increase again to USD 905 per tonne at the end of the week. Other sizes of HRC production of domestic steel mills were dropping...
Turkish steel exports to Singapore surge strongly in January - 2/8/2012 4:44:00 AM ET According to the preliminary statistics provided by Turkey's Steel Exporters' Association, in January this year, Turkish steel exports to Singapore saw substantial growth amounting to 59,077 tonnes compared to just 1,332 tonnes recorded in January 2011. The data show...
India and Norway to enhance cooperation in the field of renewable energy - 2/8/2012 4:43:00 AM ET The Norwegian Minister for Environment and International Cooperation, Mr Erik Solheim called on the union minister of new and renewable energy, Dr Farooq Abdullah in New Delhi. Both the Ministers were accompanied by high level delegations. During the talks Dr Abdullah...
GC steel HDG price movement on February 7 - 2/8/2012 4:42:00 AM ET GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana 91 Mumbai 0 Rudrapur 0 Change is on 7th February as compared to 6th February 2012 Change is in INR per tonne To know more details on steel prices subscribe to services of
GP steel HDG price movement on February 7 - 2/8/2012 4:41:00 AM ET GP 100Gms 0.40
Continental Coal starts decline development at Penumbra - 2/8/2012 4:40:00 AM ET Thermal coal junior Continental Coal on Wednesday said it had started blasting activities to construct the twin decline development at its Penumbra mine, near Ermelo in Mpumalanga. Development activities at the mine had accelerated significantly since the start of the year,...
CR steel price movement on February 7 - 2/8/2012 4:40:00 AM ET CR DSK 0.63
Wide steel plate price up in Indore on February 7 - 2/8/2012 4:39:00 AM ET PLTS GR B 12-20x2.5
Narrow HR steel plate price remain flat on February 7 - 2/8/2012 4:38:00 AM ET PLTS GR A 8x1250
HR steel prices remain flat on February 7 - 2/8/2012 4:37:00 AM ET HRC Tube 2.5x1250
Patra Narrow HR steel strips price update on February 7 - 2/8/2012 4:36:00 AM ET Patra
Steel light channel prices movement on February 7 - 2/8/2012 4:35:00 AM ET CHNL GR A 75/100
Steel angle price fall in Mumbai on February 7 - 2/8/2012 4:34:00 AM ET ANGL GR A 65X6
Steel wire rod prices remain flat on February 7 - 2/8/2012 4:33:00 AM ET WRC SWR14 5.5/6
Pig iron prices remain flat on February 7 - 2/8/2012 4:32:00 AM ET Pig iron Foundry Grade
European Banks Are Having A Monster Morning - 2/8/2012 4:31:00 AM ET
Steel plate cuttings prices remain flat at Alang on February 7 - 2/8/2012 4:31:00 AM ET
Alcoa reviewing viability of Victoria smelter - 2/8/2012 4:30:00 AM ET Aluminium major Alcoa would be reviewing the viability of the Point Henry aluminium smelter, in Victoria, as global economic conditions continued to deteriorate. The miner said on Wednesday that the current global economic conditions were severely impacting the aluminium...
TATA Power bags 20 prizes in 53rd Rose Show in Mumbai - 2/8/2012 4:29:00 AM ET As part of its commitment to flora and fauna conservation, TATA Power India’s largest Integrated Private Power Company has created ecological hotspots around its three hydro stations in Raigad. These hotspots for more than four decades have played a significant role...
Bajaj Electricals Q3 profit down by 19pct - 2/8/2012 4:28:00 AM ET Bajaj Electricals Ltd has announced its financial results for the period ended December 31st 2011. The company has posted net profit of INR 328.4 million for the quarter ended December 31st 2011 as compared to Rs.405.9 million for the quarter ended December 31st 2010,...
Chennai Petroleum announced December 2011 quarter result - 2/8/2012 4:27:00 AM ET Chennai Petroleum Corporation Ltd has announced its Financial Results for the period ended December 31st 2011. The company has posted net profit / (loss) of (INR 634.1) million for the quarter ended December 31st 2011 as compared to INR 1549.4 million for the quarter ended...
VRL Logistics set to exit wind power and cement businesses - 2/8/2012 4:26:00 AM ET Hubli based transport major VRL Logistics Ltd has firmed up plans to sell its wind power and cement business units and concentrate on its core business. The company, which operates India’s largest fleet of trucks, is re-entering the media business with a new Kannada...
Steelcast Q3 net profit up by 505pct - 2/8/2012 4:25:00 AM ET Driven by increase in demand from user industries, steel castings company, Steelcast reported a whopping 504.88% jump in net profit to INR 4.96 crore for the quarter ended December 31 as against INR 8.2 million in the year ago period. The net sales for the period stood at...
Indian iron ore mining mess - Supreme Court panel moots market rates for Karnataka iron ore - 2/8/2012 4:24:00 AM ET Iron ore miners and consumers in Karnataka, including NMDC, the country's largest iron ore producer and JSW, India's largest private sector steelmaker, will have to grapple with higher costs and lower production if the Supreme Court accepts the recommendations of a panel...
Jaiprakash Power Ventures Q3 profit zooms - 2/8/2012 4:23:00 AM ET Jaiprakash Power Ventures Ltd has announced the financial results for the quarter ended December 31st 2011. The Company has posted a net profit of INR 595.20 million for the quarter ended December 31st 2011 as compared to INR 227.70 million for the quarter ended December...
JMT Auto Q3 profit up by 32pct - 2/8/2012 4:22:00 AM ET JMT Auto Ltd has announced its financial results for the period ended December 31st 2011. The company has posted net profit of INR 37.79 million for the quarter ended December 31st 2011 as compared to INR 28.49 million for the quarter ended December 31st 2010, representing...
ACC January sales up by 9pct - 2/8/2012 4:21:00 AM ET ACC sales grew nearly 9% to 2.23 million tonnes in January compared to the same month a year ago. The cement manufacturer, in which Swiss major Holcim holds majority stake, had sold 2.05 million tonnes in January 2011. Its production also increased to 2.25 mt from 2.06...
Indian Railways Revenue earnings up by 10pct during April 2011 to January 2012 - 2/8/2012 4:20:00 AM ET The total approximate earnings of Indian Railways on originating basis during April 1st 2011 to January 31st 2012 were INR 84155.40 crore compared to INR 76223.07 crore during the same period last year, registering an increase of 10.41% The total goods earnings have gone...
Steel joist I Beam prices scenario in major places on February 7 - 2/8/2012 4:19:00 AM ET JSTI GR A 250X125
NMDC diversifies its activities in mineral resources - 2/8/2012 4:18:00 AM ET NMDC Limited, a Navratna public sector undertaking under the Ministry of Steel is primarily engaged in the business of exploring minerals and developing mines to produce raw materials. It is also expanding its activities towards steel making and other value added products. ...
Taiwan shares open higher - 2/8/2012 4:17:00 AM ET The Taiwan Stock Exchange's main index opened higher from its previous close Wednesday, moving up 65.06 points at 7,772.5 on turnover of NT$3.862 billion (US$130.47 million). Taiwan share ...
GMS weekly report on Indian ship breaking industry for week 05 2012 - 2/8/2012 4:17:00 AM ET The pre budget surge in India showed few signs of slowing with another busv week of purchases recorded. Some fiercer competition from both Bangladesh and Pakistan meant local buyers did not have it all, their wav. Yet FOUR market vessels found their wav to Indian end...
Rebar TMT QST price movement in India on February 7 - 2/8/2012 4:16:00 AM ET TMT Fe 415 12mm
Orissa for integration of state and IBM mining data - 2/8/2012 4:15:00 AM ET As part of its efforts to bring in greater transparency and accountability in mineral raising and transport business, the steel & mines department of Orissa has urged the Union mines ministry to integrate the state's online monitoring system with that of Indian Bureau of...
Indian iron ore mining mess - CEC opposes iron ore mining in Western Ghats - 2/8/2012 4:14:00 AM ET The final report of the Central Empowered Committee on illegal mining has many points that would cheer up environmentalists and non government organisations. The CEC, in its report submitted to the Supreme Court last weekend, has recommended deletion of reference to the...
GMS weekly report on Bangladesh ship breaking industry for week 05 2012 - 2/8/2012 4:13:00 AM ET Signs of life from the Bangladeshi market were on display this week as end buyers returned to the bidding tables and existing cash buyer tonnage arrived local anchorage awaiting beaching. Whilst still a fraction behind what India and Pakistan are there to pay, the gap in...
Steel melting scrap prices down in Ludhiana and Mandi on February 7 - 2/8/2012 4:12:00 AM ET Melting scrap 80:20 HMS
Government wakes up to J&K coal miners demands - 2/8/2012 4:11:00 AM ET Minister for Industries and Commerce, Mr SS Slathia said the government will sympathetically consider the demands of coal mine workers in view of the tough nature of their job. He asked the management of Jammu & Kashmir Minerals Ltd to come up with a workable and...
Delay in reforms to hit Indian power sector badly - Fitch - 2/8/2012 4:10:00 AM ET Mr Buddhika Piyasena senior director overseeing Asia-Pacific energy and utilities ratings team Fitch Ratings said that India urgently needs to undertake reforms in the power sector in 2012 else the sector will plunge deeper into a crisis. Mr Piyasena, said that "The year...
Pencil ingot prices fall at major places on February 7 - 2/8/2012 4:09:00 AM ET Pencil ingot
NHRC issues notice to Jharkhand government on coal mining - 2/8/2012 4:08:00 AM ET Calling Dhanbad district a "hotbed" of gangs indulging in illicit coal trade, the National Human Rights Commission on Monday issued notice to Jharkhand Government over economic hardships faced by tribals and "illegal mining" in the Naxal affected area. The Commission...
Sponge iron prices fall in Bellary and Raipur on February 7 - 2/8/2012 4:07:00 AM ET Sponge iron
SAIL increases long products prices from February 1 - Report - 2/8/2012 4:06:00 AM ET PTI and BL reported that Steel Authority of India has jacked up prices of long products by INR 2,000 per tonne to INR 3,000 a tonne with effect from February 1. As per PTI report “SAIL has increased the price of TMT bars by INR 2,500 per tonne to INR 40,000 a...
Indian steel price index down by 2 points on February 7 - 2/8/2012 4:05:00 AM ET The Indian Long Product Price Index ILPPI declined by 4 points on February 7th 2012, where as Indian Flat Product Price Index IFPPI remained stable. The overall Indian Steel Price Index INDSPI went down by 2 points.
ArcelorMittal not counting on Indian plans for next few years - Mr Mittal - 2/8/2012 4:04:00 AM ET Unable to get regulatory approvals for its proposed USD 30 billion investment, world's largest steel maker ArcelorMittal has for the time being put on hold its India business plans. Mr LN Mittal said that "It is very difficult to say any thing. When will start the...
Find new clients through SteelGuru platform - 2/8/2012 4:03:00 AM ET With the ever increasing use of internet for dissemination of information, every company’s website is becoming one of most important medium, with almost zero cost, to make announcements, solicit new clients and promote products. Company websites, which are virtual...
Rio Tinto To Invest Further US$3.4 Billion In Australian Iron Ore - 2/8/2012 4:02:00 AM ET
First ever Steel Scrap Summit in India gets overwhelming response - 2/8/2012 4:02:00 AM ET More than 250 participants from about 150 companies have confirmed to be at first ever Steel Scrap Summit on February 9th 2012 at The Palms in Gurgaon. In addition, more than 100 have confirmed participation for complimentary “Buyer Seller Interaction” in the...
India long product steel mills might be perched on ephemeral height - 2/8/2012 4:01:00 AM ET The days of frolic for Indian long product manufacturers might be on the wane. Declining international prices by about USD 40 per tonne to USD 50 per tonne for billets, re-bars and WRC has led to emergence of import propensity after gap of nearly a year. Long product...
Indian steel mills fortunes take full turn with Rupee appreciation - 2/8/2012 4:00:00 AM ET Rally in Indian Rupee and declining international prices caused a complete reversal of fortunes for Indian mills. Nearly 6% appreciation in INR over the last 3 weeks has dealt blow to the export competitiveness of Indian mills. In radical shift from December wherein...
Whitehaven Coal restarts mining - 2/8/2012 3:52:00 AM ET Whitehaven Coal has recommenced operations after heavy rains halted mining in the Gunnedah Basin.
China to raise gasoline, diesel prices - 2/8/2012 3:50:00 AM ET A staff member of a gas station replaces the gasoline price tag in the Jiangbei District of Chongqing, southwest China, Feb. 8, 2012. China raised the retail prices for gasoline and diesel by 300 ...
World stocks rise as Greece debt deal appears near - 2/8/2012 3:49:00 AM ET BANGKOK (AP) -- World stocks rose Wednesday as Japan's powerhouse exporters got a boost from hopes of new moves to weaken the yen while a deal appeared within reach between Greece and its creditors to cut the country's massive debt load....
China polysilicon firm reportedly files for bankruptcy - 2/8/2012 3:41:00 AM ET The rapid price drop of polysilicon has caused close to 80% of polysilicon firms in China to halt production. As the rebound of polysilicon pricing has been weak, a China-based polysilicon firm is ...
China's Steelmakers Next In Line for Debt Stress - 2/8/2012 3:38:00 AM ET China's steelmakers have racked up $400 billion in debt, which some may struggle to repay, making them a potential drag on a banking sector already facing rising bad loans from the property ...
China forges Arab ties, hedging bets in the Gulf - 2/8/2012 3:37:00 AM ET DUBAI, United Arab Emirates -- To celebrate Chinese New Year last month, Dubai's swankiest hotel bathed its sail-shaped facade in red lighting accented with an image of a twisting golden ...
Facebook faces uphill battle to crack China - 2/8/2012 3:33:00 AM ET United States As social networking giant Facebook heads toward a stock market listing its revenue figures have been made public, along with some of the its future strategies.There are just six ...
Rio Tinto sees board changes - 2/8/2012 3:32:00 AM ET Rio Tinto has appointed John Varley as a senior independent director to its board.
China to face electricity shortages - 2/8/2012 3:26:00 AM ET China could face power supply outages this year due to a shortage of coal, China's Electricity Council warned. CEC, an association representing power firms, estimates the country's power ...
Australia's Century zinc mine output slips in 2011 - 2/8/2012 2:53:00 AM ET Output from Australia's Century zinc mine, the world's second largest, slipped 2.6% in 2011 versus the previous year, the mine's Chinese owner Minmetals said on Wednesday. Century, which is expected to roughly maintain production levels until it runs out of ore in about...
China shares end at highest level in 2 months - 2/8/2012 2:47:00 AM ET China shares rose to their highest in two months on Wednesday as retail investors chased outperformers from the morning session, with Chinese oil majors and large-cap material stocks leading gains ...
Avanco triples Rio Verde resource - 2/8/2012 2:38:00 AM ET Copper developer Avanco Resources has tripled the Joint Ore Reserves Committee (Jorc) compliant resource of its Rio Verde project, in Brazil, to some 17.77-million tons, at 1.17% copper and 0.3 g/t gold for 209 000 t of contained copper and 171 000 oz of gold. The upgrade...
Nkwe expects resolution around farm dispute shortly - 2/8/2012 2:36:00 AM ET Embattled platinum developer Nkwe Platinum on Wednesday reported that it was hoping to resolve an ownership dispute regarding its platinum group tenements in South Africa, within the next two weeks. During December last year, Nkwe and its controlling shareholder Genorah...
Five dead from natural gas poisoning in Shanghai - 2/8/2012 2:06:00 AM ET SHANGHAI, Feb. 8 (Xinhua) -- Five people suffocated in their sleep due to natural gas poisoning in the eastern Chinese metropolis of Shanghai Tuesday night, local police said Wednesday. Local ...
Australia a gold standard country: BHP - 2/8/2012 1:58:00 AM ET Kloppers says country still great country to invest in. 8 Feb 2012 5:58 PM
India and Iran reach oil pay deal - 2/8/2012 1:11:00 AM ET India reaches an agreement with Iran to process payments for its crude oil imports, as US-led sanctions against Iran are tightened.
Pike River disaster cause probed - 2/8/2012 1:03:00 AM ET A rock fall that released methane gas may have triggered the deadly Pike River mine blast in New Zealand, experts report.
Glencore commodity trading earnings slump in 2011 - 2/8/2012 12:57:00 AM ET Glencore lost money on agricultural commodities in 2011 by trading volatile cotton markets and saw the profitability of trading metals and oil remaining weak or declining, the commodities giant said on Tuesday. Glencore, which rivals Vitol for the position of the world's...
Greek debt talks drag on but banks signal progress - 2/8/2012 12:44:00 AM ET (ChinaPost.com.tw) - Greece's private creditors signaled progress on a debt-relief deal but crucial talks between Greek coalition leaders about forcing more austerity upon a hostile public were again postponed.
Xinhua affiliate begins HK trade - 2/8/2012 12:38:00 AM ET A TV company linked to the Chinese news agency Xinhua has begun trading on the Hong Kong stock exchange as it seeks to broaden its reach overseas.
Carbon tax to add to Alcoa uncertainty - 2/8/2012 12:37:00 AM ET ALCOA says a carbon tax will make life harder for the company as it reviews the future of its Victorian smelter and the jobs of up to 600 workers.
Asia stocks rise as Greece debt deal appears near - 2/8/2012 12:29:00 AM ET BANGKOK (AP) -- Asian stocks rose Wednesday as Japan's powerhouse exporters got a boost from hopes of new moves to weaken the yen while a deal appeared within reach between Greece and its creditors to cut the country's massive debt load....
Markets Live: Shares find some energy - 2/8/2012 12:13:00 AM ET Local stocks edge higher following positive moves on Wall Street as investors await the outcome of discussions on a Greek bailout package.
BHP profits slump, sees global slowdown - 2/8/2012 12:01:00 AM ET Global miner BHP Billiton has reported a 6% decline in attributable profits for the first half of 2012, with profits reaching $9,9-billion, compared with the $10.5-billion in the previous corresponding period. CEO Marius Kloppers said on Wednesday that the first half of the...
Abbott links Alcoa jobs to carbon tax - 2/7/2012 11:49:00 PM ET JULIA Gillard has attacked Coalition claims that her carbon tax influenced Alcoa's decision to place its Victorian smelter under review.
OSC launches new insider trading probe; high-profile mining exec named - 2/7/2012 11:43:00 PM ET
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