Base-metals cos have moved to cut back production
Base-metals producers have moved swiftly to cut back production amid weak prices, and thousands of workers have been laid off as a result. For full story, click here
Articles Tagged "cut"
Japan steelmakers seek iron price cuts
Nippon Steel Corp and other Japanese steelmakers will press for cuts of 40 percent in iron ore prices and 60-70 percent in coal prices for the next business year due to falling costs of natural resources and weakening steel demand,. For full story, click here
Many existing producers either have shut down or curtailed output
Many existing producers have shut down or curtailed output at mines and plants as high costs and low prices bite. For full story, click here
BHP Billiton temporarily cuts output
BHP Billiton temporarily cuts manganese output at 60 pct-owned Samancor operation. For full story, click here
POSCO says may cut steel output if market worsens
Posco, the world’s No 4 steelmaker, may cut output next year if market conditions deteriorate further and a weaker won currency depresses earnings in the coming months, the company said. For full story, click here
Mining firms expect duty cuts will help reduce losses only in sec
Iron ore industry has welcomed the government’s decision to cut export duty on raw material. For full story, click here
Iron ore prices slashed
Prices of iron ore lumps would go down by Rs 1,000-2,000 per tonne depending on quality. Prices of ore fines would fall by about Rs 500 per tonne. For full story, click here
KNIA asks OMC to reduce chrome and iron ore prices
Kalinganagar Industries Association, the industry body representing 10 industrial units in the Kalinganagar area in Jajpur district has sought the immediate reduction of iron ore and chrome ore prices by the Orissa Mining Corporation to save these units from being closed down. For full story, click here
ArcelorMittal unveils 9,000 job cuts plan
Layoffs were aimed at achieving the company’s aim of reducing selling, general and administrative costs by $1 bn. For full story, click here
OMC cuts iron-ore prices by 40-50 per cent
The Orissa government’s PSU, Orissa Mining Corporation (OMC), said on Thursday said it has decided to reduce iron ore prices by 40 to 50 per cent following lack of demand. For full story, click here
