December 02, 2008
Recession reports - TATA Corus to cut work hours in Netherlands
Dutch news agency ANP reported on that TATA Corus has applied for Dutch
government financial aid to temporarily reduce the work hours of 4,600
workers to cope with the global economic slowdown.
Recession reports - Rautaruukki cuts steel production
Rautaruukki is to adjust steel production and other operations in line with weakened demand and stock levels. Due to the weakened market situation, Rautaruukki now expects comparable consolidated net...
Indian iron ore imports remain flat compared to last week
The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last...
Essar Steel and Kobe Steel sign umbrella agreement
Essar Steel Limited has announced an umbrella agreement with Kobe Steel Ltd of Japan. The agreement was signed by Mr Dilip Oommen CEO (India) Essar Steel and Mr Koichi Onishi executive officer of...
Dongkuk Steel to cut rebar steel prices by 11%
Reuters reported that Dongkuk Steel Mill would cut prices of rebar by 11% to bring prices of its construction steel in line with that made by a rival. Its local peer Hyundai Steel said that it would...
FMG surges amid talk of MMK stake sale
Bloomberg reported that Fortescue Metals Group Limited rose to the highest
in 4 weeks in Sydney trading on speculation OAO Magnitogorsk Iron & Steel
had completed selling its stake.
