China Shenhua Energy Co, China’s largest coal producer said it has resumed coal exports on the basis of guaranteeing domestic coal supply.
To satisfy the coal needs of domestic companies will still be a priority for Shenhua, as most Chinese power plants take coal as fuel. In the meantime, it will also fulfill the contracts signed [...]
China’s top oil producer China Petroleum & Chemical Corp (Sinopec) said on Monday that it has completed the offering of convertible bond worth of RMB 30 billion (US$4.2 billion).
The proceeds will be used to fund its natural gas and petrochemical projects and improve its cash flow, Sinopec said, adding that the funding shortfall could be [...]
Brazil’s miner Vale, world’s biggest iron ore producer, increased by 65 percent the price of its iron ore fines exported to China’s largest steelmaker, the Baosteel company.
Vale, the main supplier of iron ore to China, which is the world’s largest steel producer, said on Friday in a statement that Baosteel, which represented all Chinese steel [...]
A Chinese industry group on Wednesday denied the claims of a U.S. study released last month, which stated that massive government energy subsidies had fueled the country’s steel exports.
The accusation that China had supported its steel industry with energy subsidies of 27.1 billion U.S. dollars from 2000-07 was groundless and deviated from the truth, said [...]
China Petroleum and Chemical Corp. (Sinopec) has denied market talk that it plans to raise around 60 billion yuan (8.4 billion U.S. dollars) by selling an additional five billion shares.
“Sinopec has no such share sale plan for now, and I have no idea where the market talk has come from,” Huang Wensheng, securities representative of [...]
China’s largest steel maker, Baosteel, agreed on Friday to pay 65 percent more for iron ore to Brazil’s Cia Vale do Rio Doce, for 12 months beginning April 1, 2008.
The price is in line with the benchmark price agreed by Japanese and South Korean steel manufacturers at the beginning of this week.
Tags: Baosteel, iron-ore, steel-maker
