CSC makes offer for steel assets of Lion Group - Report

Bloomberg reported that Taiwan’s largest steel maker China Steel Corp has offered to buy the steel businesses of Malaysian Lion Group.

The report said that China Steel had made a binding offer for Lion Group assets including Amsteel Mills Bhd and Megasteel Bhd.

The report quoted a

 

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Changan Automobile to set up European design centre

It is reported Chongqing Changan Automobile plans to inject EUR 14.5 million into its wholly owned European subsidiary, Changan Automobile Design Center in order to enhance its research and development.

Changan Automobile Design Center in Europe was established in 2005, with registered

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Hebei Province crude and finished steel output ranks first in H1 in China

According to Wang Dayong Secretary General of Hebei Metallurgy Industry Association, during January to June, Hebei Province produced 91.086 million tonnes of crude steel up by 15.06%YoY, 100.34 million tonnes of finished steel up by 14%YoY and 87.25 million tonnes of pig iron up by 13.6%YoY

 

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Oil jumps on last minute US debt deal

Reuters reported that oil, industrial metals and grains rose and gold lost some safe haven appeal after US lawmakers agreed to raise the US debt limit to avert default but euphoria over the news could be brief, given a bleak macroeconomic outlook.

Republican and Democratic lawmakers were

 

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Ezz Steel hikes steel rebar prices

Ahram Online reported that Egypt's Ezz Steel has raised its steel rebar price by 3.1% to USD 857.1 per tonne (EGP 4,800) in August after keeping the price fixed at USD 830.3 (EGP 4,650) for the last two months.

A source at Egypt's largest steel producer said the hike was due to global

 

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