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DUISBURG, Germany (Reuters) -German Social Democrat (SPD) candidate for chancellor Olaf Scholz promised on Thursday to help the steel industry convert to climate-friendly production if his party, clinging to a narrow lead in polls, wins Sunday's federal election.
PETALING JAYA: Leon Fuat Bhd saw its net profit jump about 12-fold to RM32mil for the second quarter ended June 30, 2021 (Q2’FY21), from RM2.7mil in the corresponding quarter last year.
KUALA LUMPUR: Leon Fuat Bhd, a manufacturer and trader of steel products, said earnings surged in the second quarter boosted by higher selling prices.
China-Australia trade: iron ore miner Fortescue set earnings, shipment records in past financial year
Since prices hit an all-time high of more than US$230 a tonne in May, prices for the steelmaking ingredient have fallen with Chinese authorities curbing outputBeijing blocked several goods amid its protracted geopolitical conflict with Canberra, but iron ore shipments are still welcomed with open arms
CHINA’S loss of economic growth momentum, confirmed by soft results in August manufacturing surveys, presents a potential dilemma for commodity markets that take their cues from the world’s biggest buyer of resources.
KUALA LUMPUR: Steel pipe maker Prestar Resources Bhd said strong demand, coupled with higher prices in April and May boosted its earnings in the second quarter, but growth was stunted by the lockdown in June.
PETALING JAYA: The Malaysia Steel Institute (MSI) expects the performance of the local iron and steel sector this year to be similar with last year, given the disruption in operations following the Covid-19 lockdown.
LONDON: China imported a further 158,000 tonnes of primary aluminium in June, bringing the half-year tally to 744,000 tonnes.
IRON ore prices have suffered their worst week for nearly 18 months amid signs that the two factors needed for a sustained correction may be coming into play – Chinese steel producer discipline and a recovery in supply of ore.