IMMEDIATE ACTION TO UNITE AND ADVANCE BRAVELY
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Saudi Basic Industries Corporation has instructed all steel traders to lower their prices by SAR 200 a tonne. The price reduction applies to steel rod sizes between 8 to 32 millimeters.
Details>>BEIJING -- Stockpiles of iron ore at 25 major ports in China rose last week as market participants continued their wait-and-see attitude, according to a Tuesday report by the Xinhua News Agency.
Details>>BEIJING -- It might sound ridiculous for a steelmaker to raise pigs, but Chinese steelmaking firms are showing unprecedented interest in non-steel businesses to cope with the challenge of low profits amid a downturn.
Details>>German steel plant to shut this year Thyssen Krupp is to close a steel sheet plant at Neuwied in Germany as part of a cost saving programme at its European steel division. Management and workers’ councils have agreed to the closure, which will affect about 320 employees. The company blamed the “difficult situation in the steel market” for the closure.
Details>>The Chinese Long Product Price Index CLPPI has declined by 3 points, whereas the Chinese Flat Products Index CFPPI has also declined by 8 points. The overall price index CHISPI has gone down by 6 point.
Details>>It is reported that JSW Steel is outlining to take advantages of the current cheap rupee against US dollar happened in last few months to export 3 million tons of steel in the current fiscal year from 1.9 million tons last year. The company is scheduling to manufacture 12 million tons of steel with forecast of 11.5 million tons adding and focusing on export. steel pipe products Meanwhile, the company’s major export market spread from Middle-East, South-East Asian to African countries and now is
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