OPEC won’t raise output quotas at a meeting this week and will consider a supply reduction in the future because world economic growth is slowing and oil inventories are ample, Qatar’s energy minister said.
“The world has sufficient supply, even oversupplied in some places,” Qatar’s Abdullah bin Hamad al-Attiyah said in an interview with Bloomberg News [...]
Steel plants are cutting production in response to electricity shortages plaguing the country.
Power and transport outages have reduced stocks for coal and coke at some steel mills to critical levels, with some having less than three days’ supplies, Reuters quoted Luo Bingsheng, vice chairman of China Iron and Steel Association, as saying.
Tags: CISA, iron-steel, steel
Australian miner BHP Billiton and its joint-venture partners have signed an agreement with Baoshan Iron & Steel Co to supply an additional 94 million tons of iron ore under a 10-year contract.
With the new deal, Baosteel will be supplied with almost 10 million tons of iron ore each year for 10 years at a price [...]
