MoIT rejects proposal to close mine

The Ministry of Industry and Trade (MoIT) has rejected a proposal to shut down a major iron mine over concerns that it poses risks to the environment. The ministry said in a press statement that the proposal by the Ministry of Investment and Planning (MPI) to ...

MoF maintains raw iron export tax

The price of refined iron ore is 200 times more expensive than the raw iron ore for exporting, therefore, reducing the export tax on raw iron ore is unreasonable and discouraging investments in ore sorting technology, according to the Ministry of Finance (MoF).Keep reading ...

The most neglected threat to public health in China is toxic soil

Tang Donghua, a wiry 47-year-old farmer wearing a Greenpeace T-shirt, smokes a cigarette and gesticulates towards his paddy fields in the hills of southern Hunan province. The leaves of his rice plants poke about a foot above water. Mr Tang says he expects to harvest ...

Hòa Phát to issue over 250 million shares

Steelmaker Hòa Phát Group (HPG) plans to issue over 250 million shares to raise capital for investment in the second phase of Hoà Phát Dung Quất iron and steel production complex. HPG will sell those shares at a price of VNĐ20,000 (US$0.8) per share, expecting ...

Will Vietnam become a scrap steel power?

Vietnamese steel manufacturers are importing more and more scrap steel for domestic production, as this is the easiest and most profitable way to make steel. According to Bui Van Muu from the Metallurgy and Material Technology Faculty of the Hanoi University of Technology, the steel production ...

Trump targets cheap Chinese steel in probe, rallying US steel stocks

President Donald Trump on April 20 launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs and sending shares of some U.S. steel makers up over 8 percent. Citing concerns about national security, Trump ...

SteelAsia offers to revive defunct National Steel

To ride the infrastructure boom, SteelAsia Manufacturing Corporation has offered to acquire the mothballed National Steel Corporation in Iligan city. SteelAsia is the largest reinforced steel bar maker in Southeast Asia, while NSC was once the largest steel mill in Asia until it failed to ...

Bright prospects for steel firms despite challenges

Việt Nam’s listed steel companies can achieve higher growth in 2017 despite a volatile and predictable international market if they optimise operations and exploit missing links in the sector’s supply chain, experts said on March 13. Given recent international developments, global markets are likely to ...

Record trade surplus for Australia

Australia boasted its biggest trade surplus on record in December as surging commodity prices showered the resource-rich nation in cash, a windfall that could lessen the risk of a downgrade to its triple A credit ratings. Yesterday’s data from the Australian Bureau of Statistics showed ...

VnSteel aims to increase revenue by VNĐ800 billion

Vietnam Steel Corporation (VnSteel) aims to earn a consolidated revenue of US$835.5 million in 2017, an increase of VNĐ800 billion from 2016. It will produce around 2.4 million tonnes of steel billets this year, up 17 per cent from 2016, VnSteel said. To accomplish these ...

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