FE Today Logo

China develops taste for high-grade iron ore as coastal furnaces fire up

BEIJING/SINGAPORE, Aug 20 (Reuters): China's demand for iron ore pellets and high-quality ore is expected to accelerate in 2020 as a result of Beijing's push to shift dozens of steel mills to coastal regions in its battle to stop smog blanketing industrial cities.Relocating plants to the coast, with stricter environmental...

Read more

Chairman of BPC Ram Chandra Das

Chairman of Bangladesh Parjatan Corporation (BPC) Ram Chandra Das along with high officials and employees of BPC placing wreath at the portrait of Father of the Nation Bangabandhu Sheikh Mujibur Rahman at Dhanmondi 32 in observance of the National Mourning Day

Read more

Gold reclaims $1,500 mark as focus turns to Fed

BENGALURU, Aug 20 (Reuters): Gold prices rose above $1,500 an ounce on Tuesday, following the previous session's steep fall, as focus shifted to US Federal Reserve policy statements and growth concerns.Spot gold was up 0.8 per cent to $1,506.65 per ounce by 1112 GMT, after falling to a near one-week...

Read more

Oil price edges lower

LONDON, Aug 20 (Reuters): Oil prices edged lower on Tuesday on persisting concerns over demand, but optimism US-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a potential economic slowdown capped losses.Brent crude LCOc1 was down 19 cents to $59.55 a barrel by...

Read more

Miner BHP doubles annual net profit, pays record dividend

SYDNEY, Aug 20 (AFP): BHP, the world's biggest miner, more than doubled its annual net profit Tuesday on the back of higher iron ore prices and a rebound from significant setbacks the previous year.The resources giant posted a US$8.3 billion profit for the year to June 30, up from US$3.7...

Read more

US Steel plans to lay off hundreds of workers in Michigan

CHICAGO, Aug 20 (Reuters): United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.In a Worker Adjustment and Retraining Notification filed on Aug 5, the Pittsburgh-based company...

Read more