By Kishori Krishnan Exclusive to Iron Investing News Rio Tinto Ltd. (LON:RIO) gave a gloomy assessment of global commodity markets Tuesday, saying there is unlikely to be much of a rebound this year and warning the downturn will continue to hit its profits. The downbeat outlook reinforces the company’s message that it needs to proceed [...]
By Kishori Krishnan Exclusive To Iron Investing News The closure of major steel operations in the Hamilton area are set to reverberate around the economy, potentially affecting everyone from iron ore producers in Quebec and Labrador to coal companies in Western Canada. Pittsburgh-based United States Steel Corp. has said it will indefinitely idle operations at [...]
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
President Hugo Chavez says that iron ore production is expected to rise to 25 million tonnes per year by 2013, with an investment of US$8 billion. For full story, click here
Usha Martin Ltd expects cost of steel production to fall to 16,000 rupees per tonne from 27,000 rupees a tonne by the end of February, a top official said. Managing Director Rajeev Jhawar, said: We expect cost of steel production to fall with complete use of expensive raw materials bought earlier. For full story, click [...]
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