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February 10, 2009

Anti-dumping duties on Chinese steel

Filed under: Financial News — Tags: Anti-dumping duties, steel — Nancy @ 10:25 pm -0800

EU imposes the anti-dumping duties on China’s steel
Since last year, EU frequently initiated anti-dumping investigations on iron and steel products from China. The products involve in iron and non-alloy steel pipe, carbon steel fasteners, hot dip galvanized steel plate, cold-rolled stainless steel plate, prestressed steel strand, steel and seamless steel pipe and so on. The European Union said that the trade sanctions would be limited to steel products, but not to impose the anti-dumping duties on other Chinese steel products.

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September 29, 2008

Domestic Steel Growth Rate

Filed under: Financial News — Tags: growth rate, steel, steel export, steel price — Nancy @ 1:22 am -0700

Rapid Return of Production Growth for Steel
Expert of Lange Iron and Steel Research Center, Chen Kexin told the reporters that domestic steel production growth had a sharp decline, and even reduced. However, this condition showed that the problem of excess steel production capacity has finally surfaced, especially more serious problem of excessive supply of hot-rolled products.

The Production of Steel Growth Rate
The reporter learned from the related department that in 2008, the steel production growth rate fell sharply in China, even there appeared the first negative growth in these years. From January to August, the total production volume of national steel was 399.82 million tons, which increased 10.1% compared with the same period last year and reduced 14 percentage points increased level compared with the same time last year.

Export of China Steel is likely to be higher than the Level of Previous Year
The news on September 28 was reported that Chinese steel export rebounded greatly as it was subject to many factors. According to customs statistics, Chinese steel exports amounted to 14.89 million tons in July and August, which increased 32% compared with same period last year. In accordance with the average level from January to August, the total export volume in this year will be 62.76 tons, which is also higher than that of last year.

Domestic Steel Prices Continue to reduce
Domestic steel prices continue to fall with a deep range. The reporter learned from Steel Advisory Institution Lange Iron and Steel Net on September 28, 2008 that high-tensile steel wire and deformed bar respectively reduced 3.0% and 3.5%; long steel reduced 3.3% compared with last week, which lowered 6.1% compared with the same period last month.

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September 28, 2008

Stock Market News

Filed under: Financial News — Tags: bank, bond, investment, steel — Nancy @ 11:17 pm -0700

Ping An of China: not rule out the possibility of ready for the Fortis Investment for impairment
Ping An of China (market stock house) released that, in the future, according to the international capital market, stock price volatility, the Fortis Group, and other trends, they will be in strict accordance with the accounting standards in deciding whether to get ready from 2008 Q3 results for Fortis shares of the investment provision Impairment.

How much does the proceeds China buy U.S. treasury bonds?
To buy U.S. treasury bonds is one of the most important ways for China’s huge foreign exchange reserve to use. Because of the large amount of the purchase, the issue of China and the United States has increasingly become the focus of attention. Song Guoyou of the Fudan University scholar recently pointed out.

Belgium’s largest bank Fortis endangered, so three European countries gave out of their hands
Sept. 29 news: according to foreign reports, Belgium’s largest banking group Fortis (Fortis NV) last week, share prices of 35%. Belgium, the Netherlands and Luxembourg government has decided to inject three 11,200,000,000 euros (163 million) of funds So that Europe’s largest financial services become a part of the nationalization and as not to breach the confidence of the market.

The Chairman of the board of baosteel said high-speed growth period of Chinese iron and steel industry is over
Baosteel Group chairman Xu Lejiang, on 28th in the third academic year, said chinese crude steel output has been greater than domestic consumption of crude steel, entered the stage of supply exceeding demand. In particular, the recent decline in market demand, profit increased risk of steel, iron and steel industry which has been rapid growth in the past. The industry turning point began to be felt. Technology and the scale of iron and steel enterprises became competitive advantage to win the “cornerstone of the two.”

Goldman Sachs want their commercial banks to expand business with M & A assets of up to 50,000,000,000 U.S. dollars
According to Britain’s “Financial Times” report on September 28, after becoming a bank holding company, Goldman Sachs Group, a commercial bank started the rapid expansion of business. The leaders of Goldman Sachs Group said yesterday that the company plans to take advantage of market opportunities in the doldrums of M & A up to 500 billion dollars in U.S. assets of the banking sector to ensure that the transition in the financial sector.

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