The leading Chinese steel producer Sinosteel Corporation Thursday signed an agreement with the China Development Bank (CDB) to seek financing support from the latter.
Under the agreement, Sinosteel will establish a long-term partnership with CDB on international businesses, merger and restructuring, and construction of key production projects.
With the support from CDB, Sinosteel will expand its resources [...]

China’s steel products market has seen remarkable on-year inventory growth at the peak season of sales, signaling demand hasn’t improved substantially or outperformed anticipation.
According to statistics of steel products inventory in some cities given by My Steel, a website offering complete information about China’s steel industry, the inventory of hot-rolled plates increased 42 percent on [...]

Aluminum Corp of China Ltd (Chalco), the country’s top alumina producer, could cut its price for the material by around 10 percent later this month as high imports and increased domestic production drive down spot prices, traders and smelter officials said on ThursdaySpot alumina prices have fallen 15 percent in the past two months in [...]

Aluminum Corp. of China, or Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped the proposed 19.5 billion U.S. dollars of investment by Chinalco, and Rio Tinto would pay a break fee of 195 million U.S. dollars to the Chinese aluminum maker.
Chinalco Chairman Xiong Weiping said the company is "very disappointed" at [...]

Hunan Valin Iron &Steel Group and China Huarong Asset Management Corporation signed a strategic corporation agreement in Changsha and jointly established an industrial investment fund of 1 billion Yuan, which is the first industrial investment fund in China iron & steel industry and will be mainly used for investment, merger, acquisition and integration of this [...]

Coke producers in northern China’s Shanxi Province intend to further raise coke prices by about 60 yuan/ton after the Shanxi Coking Association Alliance adjusted up its guiding price for coke by 30 yuan, or 60 yuan/ton for May, revealed local insiders.
Coke’s guiding price in Shanxi, the country’s major production base, will touch 1,720 yuan/ton if [...]

The output of gold in Shandong province is expected to reach 67 tons and even 200 tons on deep processing gold by 2011, according to a plan approved by Shandong province to adjust and revive its gold industry. The province is striving for an average annual growth rate of 12 percent.
The Shandong Provincial Economic [...]