According to insiders, Russia is to become a new iron ore source for China as iron ore imports through Manzhouli surged.

According to the figures in Manzhouli Customs neighboring Russia, China's north border gate has imported 491,000 tonnes of Russian iron ore valued at USD 75.5 million from January to May up by 195 times and 600 times respectively. The average price increases 2.1 times to USD 153.8 per tonne.

Mr Zhang Ke a local official said that "Manzhouli is expected to import 2 million tonnes of iron ore from Russia this year and Russia will become another important source for iron ore import."

Mr Bao Yuzhu deputy director general of Manzhouli bureau of commerce said that China will increasingly rely on iron ore import to meet the growing demand in domestic market. Besides, climbing cost pressures in and aboard, such as rising oil price and strained transportations would urge domestic steelmakers to switch to Russia a new source for iron ore import------WorldScrap ■

According to insiders, Russia is to become a new iron ore source for China as iron ore imports through Manzhouli surged.

According to the figures in Manzhouli Customs neighboring Russia, China's north border gate has imported 491,000 tonnes of Russian iron ore valued at USD 75.5 million from January to May up by 195 times and 600 times respectively. The average price increases 2.1 times to USD 153.8 per tonne.

Mr Zhang Ke a local official said that "Manzhouli is expected to import 2 million tonnes of iron ore from Russia this year and Russia will become another important source for iron ore import."

Mr Bao Yuzhu deputy director general of Manzhouli bureau of commerce said that China will increasingly rely on iron ore import to meet the growing demand in domestic market. Besides, climbing cost pressures in and aboard, such as rising oil price and strained transportations would urge domestic steelmakers to switch to Russia a new source for iron ore import------WorldScrap ■

I've heard that we need AQSIQ license if i want to export scraps to china, is that right? and what is the AQSIQ? who can tell me?

---------worldscrap ■

I've heard that we need AQSIQ license if i want to export scraps to china, is that right? and what is the AQSIQ? who can tell me?

---------worldscrap ■

China's copper prices may stay strong over July and August, traditionally slack months for copper prices and consumption, due to a variety of factors, analysts told Interfax yesterday----worldscrap ■

China's copper prices may stay strong over July and August, traditionally slack months for copper prices and consumption, due to a variety of factors, analysts told Interfax yesterday----worldscrap ■

this is stone from worldscrap.com China is making efforts to ban free plastics bags for better enviroment. so for, it works , but I think we should ban on plastic bags manufacturing, it will be more effective in this way. ■

this is stone from worldscrap.com China is making efforts to ban free plastics bags for better enviroment. so for, it works , but I think we should ban on plastic bags manufacturing, it will be more effective in this way. ■

3rd¡ª5th Nov. 2008, World Scrap Industry (autumn) Economics & Trade Fair will be held in Ningbo, . The scale of overseas suppliers group will be enlarged and the varieties of scrap metals and plastic will be more extensive and detailed. The number of attending enterprises is estimated to reach 800. More considerate and hospitable services are waiting for you.

Introduction of the exhibition

As we all know that decoration of exhibiting booth is an energy-exhausting and high-cost job, and the disadvantages of the traditional exhibiting way are being exposed under the business philosophy advocating high-efficiency and harmony. Thus, combining exhibiting booth with room into a SOHO style exhibiting hall was initiated by WorldScrap and stood as a highlight of World Scrap Industry Economics & Trade Fair, it has distinctive advantages as following:

money saving¡ª¡ªlower unnecessary cost maximally

communication-improving¡ª¡ªgetting the clients closer, enjoying personalized business environment

high convenience in trading¡ª¡ªfully-equipped office room, high-quality services and high agreement rate.

fairness and credibility improving¡ª¡ªno exaggerated media advertisement, guarantee the fairness in trading.

high personal satisfaction¡ª¡ªdecorating your exhibiting room on your own style.

Time and Location:

3rd¡ª5th Nov, 2008

Ningbo Smile & Natural Hotel

Hotel address: No.99 Jiangbei Road, Ningbo Zhejiang,

Trade Fair Agenda

¡3rd Nov

9£º00¡ª13£º00 Registration Preparation for exhibition (exhibitor) 2-4F

13£º00¡ª17£º30 Exhibiting room Open for visitor

18£º00¡ª21£º30 Opening ceremony and welcoming dinner party

¡4th Nov

9£º00£17£º00 SOHO exhibit hall open

17£º40£19£º40 Dinner party for exhibitors and delegates in JUSHIXIAN hall, 1F

20£º00£22£º00 The forum for the outlook of China scraps industry in the year of 2009 Place: Yizheng Hall, 4F

¡5th Nov

9£º00£15£º00 SOHO exhibit hall open

15£º30£18£º00 Trade Fair closes

If you want to be one of the overseas scrap exhibitors or the visitors, pls visit the website http://china.worldscrap.com/modules/...05/indexe.html

You can also directly contact with us as follow:

International Dept.

WorldScrap.com

Tel: +86-574-27710530

Fax: +86-574-27710500

E-mail: service@worldscrap.com, info@worldscrap.com

Web: www.worldscrap.com ■

3rd¡ª5th Nov. 2008, World Scrap Industry (autumn) Economics & Trade Fair will be held in Ningbo, . The scale of overseas suppliers group will be enlarged and the varieties of scrap metals and plastic will be more extensive and detailed. The number of attending enterprises is estimated to reach 800. More considerate and hospitable services are waiting for you.

Introduction of the exhibition

As we all know that decoration of exhibiting booth is an energy-exhausting and high-cost job, and the disadvantages of the traditional exhibiting way are being exposed under the business philosophy advocating high-efficiency and harmony. Thus, combining exhibiting booth with room into a SOHO style exhibiting hall was initiated by WorldScrap and stood as a highlight of World Scrap Industry Economics & Trade Fair, it has distinctive advantages as following:

money saving¡ª¡ªlower unnecessary cost maximally

communication-improving¡ª¡ªgetting the clients closer, enjoying personalized business environment

high convenience in trading¡ª¡ªfully-equipped office room, high-quality services and high agreement rate.

fairness and credibility improving¡ª¡ªno exaggerated media advertisement, guarantee the fairness in trading.

high personal satisfaction¡ª¡ªdecorating your exhibiting room on your own style.

Time and Location:

3rd¡ª5th Nov, 2008

Ningbo Smile & Natural Hotel

Hotel address: No.99 Jiangbei Road, Ningbo Zhejiang,

Trade Fair Agenda

¡3rd Nov

9£º00¡ª13£º00 Registration Preparation for exhibition (exhibitor) 2-4F

13£º00¡ª17£º30 Exhibiting room Open for visitor

18£º00¡ª21£º30 Opening ceremony and welcoming dinner party

¡4th Nov

9£º00£17£º00 SOHO exhibit hall open

17£º40£19£º40 Dinner party for exhibitors and delegates in JUSHIXIAN hall, 1F

20£º00£22£º00 The forum for the outlook of China scraps industry in the year of 2009 Place: Yizheng Hall, 4F

¡5th Nov

9£º00£15£º00 SOHO exhibit hall open

15£º30£18£º00 Trade Fair closes

If you want to be one of the overseas scrap exhibitors or the visitors, pls visit the website http://china.worldscrap.com/modules/...05/indexe.html

You can also directly contact with us as follow:

International Dept.

WorldScrap.com

Tel: +86-574-27710530

Fax: +86-574-27710500

E-mail: service@worldscrap.com, info@worldscrap.com

Web: www.worldscrap.com ■

WorldScrap- The scrap steel price was steady in Zhejiang Province today, the trade was in general and the supply was in shortage. The latest price: scrap iron (mixed heavy smelting steel and light smelting steel) 557-564USD per ton, light smelting steel 511-519USD per ton, imported pig iron 589-594USD, pig iron (made in China) 600-607USD per ton.

The scrap steel price hardly changed in Shanghai and the dealers presented calmly on a normal trade. According ...

Read full story, please visit :http://www.worldscrap.com/modules/ne...e.php?aid=7923

information from www.worldscrap.com ■

WorldScrap- The scrap steel price was steady in Zhejiang Province today, the trade was in general and the supply was in shortage. The latest price: scrap iron (mixed heavy smelting steel and light smelting steel) 557-564USD per ton, light smelting steel 511-519USD per ton, imported pig iron 589-594USD, pig iron (made in China) 600-607USD per ton.

The scrap steel price hardly changed in Shanghai and the dealers presented calmly on a normal trade. According ...

Read full story, please visit :http://www.worldscrap.com/modules/ne...e.php?aid=7923

information from www.worldscrap.com ■

Compliance with recycling ordinances in south Bergen towns is mixed and the rules are not strictly enforced. South Bergen towns recycle everything from tin cans to grass clippings to electronics.

Rutherford Recycling coordinator Sharon Del Vecchio has had problems with cooperation, particularly with regard to a townhouse complex she did not name. The Rutherford Department of Public Works has not fined anyone in recent memory, but Del Vecchio said it is not out of the question. "It¡¯s not enforced very well. I believe the administration at the time ¨C it just wasn¡¯t something that they did," she said.

Will you get fined?

One area where Rutherford residents need improvement is wood waste, which should be collected separately from other heavy garbage. Lyndhurst recycling coordinator said people in Lyndhurst have been good at recycling goods, but noted that town sanitation workers cannot always spot bottles and cans mixed in with regular trash. "The townspeople are pretty good. We have a good turnout for recycling," said Rosa.

East Rutherford recycling coordinator Mark LaGala said people have been fined for not recycling correctly in recent years. When the DPW catches them, a warning is issued before fines are imposed.

Private haulers need more compliance

The state regulates private haulers who take garbage from dumpsters at apartment complexes, businesses or other properties. Recycling coordinators, which the state mandates every town to have, receive reports from these private sanitation companies every year and the amount of material they recycle is applied to recycling tonnage grants, moneys the town receives from the state for the amount of materials it recycles.

Sanitation companies pick up various recyclable materials from south Bergen properties and make a report to the town on how much they collected. This number is factored in to the total tonnage of recycled materials collected in a town. LaGala acknowledges that there might be mistakes here and there, but the detailed reports received from private haulers demonstrate at least some compliance.

Rutherford recycles appliances

An area where Rutherford residents have already pitched in is electronic waste. Rutherford breaks from other area communities by picking up "e-waste" on Wednesdays. Every few months, Lyndhurst conducts a town-wide recycling drop off for electronic waste. All electronic equipment from television sets to toasters can be dropped off at Lincoln School at Ridge Road and Valley Brook Avenue on selected Saturday afternoons throughout the year. The next one will be after Labor Day, according to Rosa.

Past efforts have been successful as Lyndhurst residents look for a place to put their bulky computers and TV sets in the age of flat screen TVs and laptops. If a resident cannot drop it off, DPW workers will pick it up at their homes.

Copper bandits

The rising cost of recyclable materials has led some to take recyclables from the curb. As any recycling coordinator will tell you, this is stealing. The cost of metal is at an all time high and while many residents mix aluminum cans and plastic bottles in the same containers, the ones who do not might see someone take their cans in the middle of the night. "Metal is definitely being taken before we get there," said Del Vecchio.

Trucks of people cruise around the borough at night seeking anything metal: bed frames, dressers, light fixtures and chairs. Del Vecchio said people have clipped and stripped electrical cords to retrieve the copper.

Towns rake in thousands of dollars annually, money which is applied to municipal budgets, so while residents might applaud metal bandits for getting rid of their trash, the thefts could affect their property taxes.

Vince Rosa has notified the police department about curbside thefts of recyclable materials. To date, the police have not caught anyone riding around and taking materials during recycling periods, but Rosa said he hopes to catch them. "We could throw the book at them if we do," he added.

People stealing recyclable materials from curbsides in Lyndhurst can be fined $1,000. Rosa wants residents to take down the license plate numbers of the thieves and the police will take care of the rest.

LaGala has also noticed an increase in incidents of recyclable materials being stolen from curbsides in East Rutherford, particularly metal. "The markets are high on a lot of recyclables," he said.

Food waste could be next recyclable

Another trend in the sanitation industry that is garnering attention from the state and area municipalities is the disposal of food waste. The head custodian from the Rutherford School System attended a lecture from a Montclair State University professor who helped implement a food waste program at the college that has reduced kitchen scrap waste to zero by composting.

The price of disposing garbage in a landfill is $84 a ton and food waste, mostly composed of water, is heavy, said Del Vecchio. She suggests the construction of a food waste processing plant in the Meadowlands, which she feels would be a perfect location to get the ball rolling on turning trash into energy in south Bergen. "If we do it right, it would be a tremendous advantage educationally, financially and environmentally," she said.

In the future, Lyndhurst will focus on collecting food waste from restaurants and supermarkets so it can be properly recycled.

http://www.worldscrap.com/modules/ne...e.php?aid=7949 ■

Compliance with recycling ordinances in south Bergen towns is mixed and the rules are not strictly enforced. South Bergen towns recycle everything from tin cans to grass clippings to electronics.

Rutherford Recycling coordinator Sharon Del Vecchio has had problems with cooperation, particularly with regard to a townhouse complex she did not name. The Rutherford Department of Public Works has not fined anyone in recent memory, but Del Vecchio said it is not out of the question. "It¡¯s not enforced very well. I believe the administration at the time ¨C it just wasn¡¯t something that they did," she said.

Will you get fined?

One area where Rutherford residents need improvement is wood waste, which should be collected separately from other heavy garbage. Lyndhurst recycling coordinator said people in Lyndhurst have been good at recycling goods, but noted that town sanitation workers cannot always spot bottles and cans mixed in with regular trash. "The townspeople are pretty good. We have a good turnout for recycling," said Rosa.

East Rutherford recycling coordinator Mark LaGala said people have been fined for not recycling correctly in recent years. When the DPW catches them, a warning is issued before fines are imposed.

Private haulers need more compliance

The state regulates private haulers who take garbage from dumpsters at apartment complexes, businesses or other properties. Recycling coordinators, which the state mandates every town to have, receive reports from these private sanitation companies every year and the amount of material they recycle is applied to recycling tonnage grants, moneys the town receives from the state for the amount of materials it recycles.

Sanitation companies pick up various recyclable materials from south Bergen properties and make a report to the town on how much they collected. This number is factored in to the total tonnage of recycled materials collected in a town. LaGala acknowledges that there might be mistakes here and there, but the detailed reports received from private haulers demonstrate at least some compliance.

Rutherford recycles appliances

An area where Rutherford residents have already pitched in is electronic waste. Rutherford breaks from other area communities by picking up "e-waste" on Wednesdays. Every few months, Lyndhurst conducts a town-wide recycling drop off for electronic waste. All electronic equipment from television sets to toasters can be dropped off at Lincoln School at Ridge Road and Valley Brook Avenue on selected Saturday afternoons throughout the year. The next one will be after Labor Day, according to Rosa.

Past efforts have been successful as Lyndhurst residents look for a place to put their bulky computers and TV sets in the age of flat screen TVs and laptops. If a resident cannot drop it off, DPW workers will pick it up at their homes.

Copper bandits

The rising cost of recyclable materials has led some to take recyclables from the curb. As any recycling coordinator will tell you, this is stealing. The cost of metal is at an all time high and while many residents mix aluminum cans and plastic bottles in the same containers, the ones who do not might see someone take their cans in the middle of the night. "Metal is definitely being taken before we get there," said Del Vecchio.

Trucks of people cruise around the borough at night seeking anything metal: bed frames, dressers, light fixtures and chairs. Del Vecchio said people have clipped and stripped electrical cords to retrieve the copper.

Towns rake in thousands of dollars annually, money which is applied to municipal budgets, so while residents might applaud metal bandits for getting rid of their trash, the thefts could affect their property taxes.

Vince Rosa has notified the police department about curbside thefts of recyclable materials. To date, the police have not caught anyone riding around and taking materials during recycling periods, but Rosa said he hopes to catch them. "We could throw the book at them if we do," he added.

People stealing recyclable materials from curbsides in Lyndhurst can be fined $1,000. Rosa wants residents to take down the license plate numbers of the thieves and the police will take care of the rest.

LaGala has also noticed an increase in incidents of recyclable materials being stolen from curbsides in East Rutherford, particularly metal. "The markets are high on a lot of recyclables," he said.

Food waste could be next recyclable

Another trend in the sanitation industry that is garnering attention from the state and area municipalities is the disposal of food waste. The head custodian from the Rutherford School System attended a lecture from a Montclair State University professor who helped implement a food waste program at the college that has reduced kitchen scrap waste to zero by composting.

The price of disposing garbage in a landfill is $84 a ton and food waste, mostly composed of water, is heavy, said Del Vecchio. She suggests the construction of a food waste processing plant in the Meadowlands, which she feels would be a perfect location to get the ball rolling on turning trash into energy in south Bergen. "If we do it right, it would be a tremendous advantage educationally, financially and environmentally," she said.

In the future, Lyndhurst will focus on collecting food waste from restaurants and supermarkets so it can be properly recycled.

http://www.worldscrap.com/modules/ne...e.php?aid=7949 ■

An international standard designed to assist the development of a worldwide market for plastics recovery and recycling has been launched.

The standard ISO 15270:2008 - ¡°Plastics - Guidelines for the recovery and recycling of plastics waste¡± - has been compiled after input from relevant international industry bodies and stakeholder associations.

It is a compilation of their opinions regarding essential requirements and good practices and is not mandatory.

However, it is hoped the standard will help establish a sustainable infrastructure for recovery/recycling and a sustainable market for recovered materials and products manufactured from them.

Michael Fisher, the current chair of the ISO Technical Committee on Plastics (ISO TC 61), told PRW.com that the standard was important to all plastics recycling stakeholders in ¡°both the public and private sectors¡±.

Before his retirement, Fisher worked as a senior director for the Plastics Division of the American Chemistry Council in Arlington, the US. He added that the standard specifies terms and definitions related to plastics recovery and provides a framework for understanding different plastics recovery options.

Fisher said it covers plastics in all markets, from bottles to automobiles, and was written to be globally relevant.

He added: ¡°Plastics recycling is still largely an emerging industry around the globe and a common language supporting a defined technical framework can significantly aid in its growth.¡±

Fisher added: ¡°It is a standard that recognises that resource recovery is not simply a solid waste management issue but is important to sustainable development and benefits from an integrated resource management perspective.¡±

http://www.worldscrap.com/modules/ne...e.php?aid=7963 ■

An international standard designed to assist the development of a worldwide market for plastics recovery and recycling has been launched.

The standard ISO 15270:2008 - ¡°Plastics - Guidelines for the recovery and recycling of plastics waste¡± - has been compiled after input from relevant international industry bodies and stakeholder associations.

It is a compilation of their opinions regarding essential requirements and good practices and is not mandatory.

However, it is hoped the standard will help establish a sustainable infrastructure for recovery/recycling and a sustainable market for recovered materials and products manufactured from them.

Michael Fisher, the current chair of the ISO Technical Committee on Plastics (ISO TC 61), told PRW.com that the standard was important to all plastics recycling stakeholders in ¡°both the public and private sectors¡±.

Before his retirement, Fisher worked as a senior director for the Plastics Division of the American Chemistry Council in Arlington, the US. He added that the standard specifies terms and definitions related to plastics recovery and provides a framework for understanding different plastics recovery options.

Fisher said it covers plastics in all markets, from bottles to automobiles, and was written to be globally relevant.

He added: ¡°Plastics recycling is still largely an emerging industry around the globe and a common language supporting a defined technical framework can significantly aid in its growth.¡±

Fisher added: ¡°It is a standard that recognises that resource recovery is not simply a solid waste management issue but is important to sustainable development and benefits from an integrated resource management perspective.¡±

http://www.worldscrap.com/modules/ne...e.php?aid=7963 ■

Persons who receive or attempt to export stolen property in the scrap metal trade could

shortly be faced with an increased fine of $2 million up from $3,000.

This was among several changes outlined by Industry and Commerce Minister, Karl

Samuda at a press conference this morning to govern the resumption of the export trade.

The recommendation for the increased fine is to be made in a submission to Cabinet.

In addition, dealers caught with stolen materials will be removed from the list of approved

traders.

According to Mr. Samuda the move is necessary to eliminate the illegal activities, which

have led to a shutdown in the trade on two occasions.

Of the 63 registered scrap metal sites currently in operation, 50 have so far been

inspected by the Customs Department.

Included in this number are three sites at the Riverton Landfill in Kingston.

Mr. Samuda said inspection is being conducted on an ongoing basis and the remaining

13 sites should be inspected by the end of the month.

Mr. Samuda warned that the government would not tolerate any threats against officers

involved in the trade.

Additionally the number of customs officers assigned to the trade has been increased

from six to 20.

Dealers will also be required to ensure that the perimeter of their properties is properly

fenced and that the officers involved in monitoring the process are protected.

In this regard the dealers will undertake security expenses for these personnel.

Export of scrap metals resumed on Tuesday, following a shutdown last month due to

increased thefts in the trade.

http://www.worldscrap.com/modules/ne...e.php?aid=7979 ■

Persons who receive or attempt to export stolen property in the scrap metal trade could

shortly be faced with an increased fine of $2 million up from $3,000.

This was among several changes outlined by Industry and Commerce Minister, Karl

Samuda at a press conference this morning to govern the resumption of the export trade.

The recommendation for the increased fine is to be made in a submission to Cabinet.

In addition, dealers caught with stolen materials will be removed from the list of approved

traders.

According to Mr. Samuda the move is necessary to eliminate the illegal activities, which

have led to a shutdown in the trade on two occasions.

Of the 63 registered scrap metal sites currently in operation, 50 have so far been

inspected by the Customs Department.

Included in this number are three sites at the Riverton Landfill in Kingston.

Mr. Samuda said inspection is being conducted on an ongoing basis and the remaining

13 sites should be inspected by the end of the month.

Mr. Samuda warned that the government would not tolerate any threats against officers

involved in the trade.

Additionally the number of customs officers assigned to the trade has been increased

from six to 20.

Dealers will also be required to ensure that the perimeter of their properties is properly

fenced and that the officers involved in monitoring the process are protected.

In this regard the dealers will undertake security expenses for these personnel.

Export of scrap metals resumed on Tuesday, following a shutdown last month due to

increased thefts in the trade.

http://www.worldscrap.com/modules/ne...e.php?aid=7979 ■

Metals markets were largely calm during the overnight hours but gold continued to be exhibiting continuing dollar-strength related moderation and was not able to get above the $965 area by much (lows came near $954).

The greenback added a few more ticks in value, rising to 72.30 but then again, so did crude oil, which climbed a bit more than $1.75 to the $131.05 mark. Geopolitics showed signs of significant cooling from last week's heated rhetoric. In the latest developments, Iran welcomed the presence of U.S. officials at tomorrow's talks in Geneva. The Bush administration, taking a page from the playbook of Mr. Obama, decided that hurling warnings towards Iran is probably less wise than trying to open a communications channel and ascertaining if there is room for possible solutions to the nuclear program bugaboo.

New York trading opened the final session of this week on an ominously weakening note, with gold showing an initial loss $7.10 per ounce at $949.90 while players will now have to look at oil, equities, and currencies in the absence of anything to digest from today's blank economic calendar.

A raft of corporate earnings (and lack thereof) hit the street after yesterday's final bell and some of them offered (Merril's) cause for added worry, while others (Citi's) showed that some progress is being achieved in the great unwind. The Dow might have an interesting time trying to deal with the good, the bad, and the ugly as it resumes trading this morning.

Silver dropped 37 more cents, trading at $18.17 while platinum and palladium continued to show further losses as well, with the former declining $32 to $1834 and the latter falling $4 to $417 per ounce. Noble metals values remain under pressure as the apparent postponement of the would-be diesel revival in the USA has been put on the back-burner due to sky-high diesel fuel prices. When additionally considering the latest N. American auto sales trends, platinum and palladium have been thus far unable to capitalize on the continuing supply issues in South Africa and have fallen to near 11 week lows.

Today's focus shifts back to one of the gold market's sine qua non pillars of demand: India. While investment and safe-haven demand have required almost all of gold's recent headlines to be printed in bold, extra-large fonts, the underlying drought in Indian demand should have analysts up at night, wondering who will absorb the metal that the sub-continental buyers are evidently unwilling to consume at current prices.

As we normally come to this discussion table from an almost purely fundamentals-oriented angle, we must once again ring the alarm bell to the complacent bulls who believe that India simply does not matter any more, and that ETFs and such will take every ounce of gold that is now being, and will be dug up from the ground.

http://www.worldscrap.com/modules/ne...e.php?aid=7992 ■

Metals markets were largely calm during the overnight hours but gold continued to be exhibiting continuing dollar-strength related moderation and was not able to get above the $965 area by much (lows came near $954).

The greenback added a few more ticks in value, rising to 72.30 but then again, so did crude oil, which climbed a bit more than $1.75 to the $131.05 mark. Geopolitics showed signs of significant cooling from last week's heated rhetoric. In the latest developments, Iran welcomed the presence of U.S. officials at tomorrow's talks in Geneva. The Bush administration, taking a page from the playbook of Mr. Obama, decided that hurling warnings towards Iran is probably less wise than trying to open a communications channel and ascertaining if there is room for possible solutions to the nuclear program bugaboo.

New York trading opened the final session of this week on an ominously weakening note, with gold showing an initial loss $7.10 per ounce at $949.90 while players will now have to look at oil, equities, and currencies in the absence of anything to digest from today's blank economic calendar.

A raft of corporate earnings (and lack thereof) hit the street after yesterday's final bell and some of them offered (Merril's) cause for added worry, while others (Citi's) showed that some progress is being achieved in the great unwind. The Dow might have an interesting time trying to deal with the good, the bad, and the ugly as it resumes trading this morning.

Silver dropped 37 more cents, trading at $18.17 while platinum and palladium continued to show further losses as well, with the former declining $32 to $1834 and the latter falling $4 to $417 per ounce. Noble metals values remain under pressure as the apparent postponement of the would-be diesel revival in the USA has been put on the back-burner due to sky-high diesel fuel prices. When additionally considering the latest N. American auto sales trends, platinum and palladium have been thus far unable to capitalize on the continuing supply issues in South Africa and have fallen to near 11 week lows.

Today's focus shifts back to one of the gold market's sine qua non pillars of demand: India. While investment and safe-haven demand have required almost all of gold's recent headlines to be printed in bold, extra-large fonts, the underlying drought in Indian demand should have analysts up at night, wondering who will absorb the metal that the sub-continental buyers are evidently unwilling to consume at current prices.

As we normally come to this discussion table from an almost purely fundamentals-oriented angle, we must once again ring the alarm bell to the complacent bulls who believe that India simply does not matter any more, and that ETFs and such will take every ounce of gold that is now being, and will be dug up from the ground.

http://www.worldscrap.com/modules/ne...e.php?aid=7992 ■

In a bid to restore fair competition in the US market, a decision has found laminated woven polypropylene sacks dumped and imports subsidized from China. By a 6-0 vote, the U.S. International Trade Commission (ITC) has affirmatively decided on a petition filed by US producers of laminated woven PP sacks against dumped and subsidized imports of these products from China. This decision implies that US importers of these products from China will be required to pay high duties to offset unfair pricing and Chinese government subsidies.

Last month, the US Department of Commerce made affirmative antidumping and countervailing duty determinations with respect to these imported products. The dept. found that the margin of dumping ranged from 64.28% to 91.73%, and that the net subsidy rate ranged from 29.54% to 352.82%, depending on the identity of the Chinese producer. Consequently, import duties in these amounts will be imposed to offset dumping and the unfair advantage of government subsidies given to Chinese producers of these products. Because the antidumping and countervailing duties apply independently to imports of these products, the combined duties that will result from these measures will range from 93.82% to 444.55% of the customs value of the imported products, depending upon the identity of the Chinese producer.

http://www.worldscrap.com/modules/ne...e.php?aid=8013 ■

In a bid to restore fair competition in the US market, a decision has found laminated woven polypropylene sacks dumped and imports subsidized from China. By a 6-0 vote, the U.S. International Trade Commission (ITC) has affirmatively decided on a petition filed by US producers of laminated woven PP sacks against dumped and subsidized imports of these products from China. This decision implies that US importers of these products from China will be required to pay high duties to offset unfair pricing and Chinese government subsidies.

Last month, the US Department of Commerce made affirmative antidumping and countervailing duty determinations with respect to these imported products. The dept. found that the margin of dumping ranged from 64.28% to 91.73%, and that the net subsidy rate ranged from 29.54% to 352.82%, depending on the identity of the Chinese producer. Consequently, import duties in these amounts will be imposed to offset dumping and the unfair advantage of government subsidies given to Chinese producers of these products. Because the antidumping and countervailing duties apply independently to imports of these products, the combined duties that will result from these measures will range from 93.82% to 444.55% of the customs value of the imported products, depending upon the identity of the Chinese producer.

http://www.worldscrap.com/modules/ne...e.php?aid=8013 ■

PE

PE market kept rolling steadily today and the prices kept stayed in line with earlier day. The traders shifted away from importing those supply banned by Olympic restrictions, and the demand for film remained stronger. The latest price: LDPE film 1264USD per ton.

PC

PC supply was stable and the trade for PC regrinds and alloy was growing, while the trade for high quality material was stagnanted due to a higher price. The latest price: PC clear post-industrial 1700USD per ton.

PVC

Both the supply of PVC flexible and rigid material were tightening, and it was said that the profit hiked than earlier days. The latest price: mixed color PVC flexible 600USD per ton, PVC rigid 700USD per ton.

PMMA

It was a difficult for those investors to find PMMA board sheet supply while the demand was robust, which has attracted speculation flooded into the market, therefore, the price has stayed in a high level. The latest price: PMMA board sheet 2500USD per ton.

ABS

The supply for ABS regrinds was tightening and the downstream buyers presented cautiously. The trade has been in general. The latest price: ABS clear post-industrial 1571USD per ton.

PP

PP price stayed in flatness today and the various kinds of varieties were available, the demand for PP bag was growing. The latest price: clear PP regrinds 1357USD per ton.

PS

PS price kept flat with yesterday and the demand for HIPS and EPS was stronger. The traders have cut down their imported volume. The latest price: HIPS white icebox regrinds 1029USD per ton.

PET

PET market kept rolling steadily stable and the most traded was spots. The whole market was well moved up on stable demand from the downstream buyers. The latest price: PET mixed color bottle 857USD per ton.

WorldScrap

* The copying, republication or redistribution of World Scrap News Content is expressly prohibited without the prior written consent of World Scrap News. All rights reserved ■

PE

PE market kept rolling steadily today and the prices kept stayed in line with earlier day. The traders shifted away from importing those supply banned by Olympic restrictions, and the demand for film remained stronger. The latest price: LDPE film 1264USD per ton.

PC

PC supply was stable and the trade for PC regrinds and alloy was growing, while the trade for high quality material was stagnanted due to a higher price. The latest price: PC clear post-industrial 1700USD per ton.

PVC

Both the supply of PVC flexible and rigid material were tightening, and it was said that the profit hiked than earlier days. The latest price: mixed color PVC flexible 600USD per ton, PVC rigid 700USD per ton.

PMMA

It was a difficult for those investors to find PMMA board sheet supply while the demand was robust, which has attracted speculation flooded into the market, therefore, the price has stayed in a high level. The latest price: PMMA board sheet 2500USD per ton.

ABS

The supply for ABS regrinds was tightening and the downstream buyers presented cautiously. The trade has been in general. The latest price: ABS clear post-industrial 1571USD per ton.

PP

PP price stayed in flatness today and the various kinds of varieties were available, the demand for PP bag was growing. The latest price: clear PP regrinds 1357USD per ton.

PS

PS price kept flat with yesterday and the demand for HIPS and EPS was stronger. The traders have cut down their imported volume. The latest price: HIPS white icebox regrinds 1029USD per ton.

PET

PET market kept rolling steadily stable and the most traded was spots. The whole market was well moved up on stable demand from the downstream buyers. The latest price: PET mixed color bottle 857USD per ton.

WorldScrap

* The copying, republication or redistribution of World Scrap News Content is expressly prohibited without the prior written consent of World Scrap News. All rights reserved ■

Base metals prices edged lower in thin volumes during London Metal Exchange premarket trade Wednesday. "They're all drifting lower, partly on a lack of interest. The dollar is improving a bit and they're testing a bit on the downside, but there's very little going on," said a trader with one LME ring dealer. "There's nothing dramatic going on. It's a typical summer period -- there's very little interest, it's just down to the people who want to play it," he said. "We've been here before. They'll have to a go a bit lower to activate some sell-stops and nervous liquidation." Aluminium prices eased lower in early trade, with three-months aluminium bid at $3,017/mt at 0910 GMT, down $13 from Tuesday's evening kerb close. Prices have retreated steadily from record peaks of $3,380/mt earlier this month, and the move lower has seen aluminium consumers in Japan and South Korea breathe easier this week, local market sources said.

Sources said consumers, who had kept quiet for two weeks, were back this week fixing prices for their aluminium purchases. "Consumers had waited enough, some could not wait any longer for LME prices to come down further," said a Japanese trader. Some consumers were still wary of the dollar firming against the yen this week to Yen 107, from Yen 104 last Wednesday, but they decided to fix prices this week nevertheless, the trader added. Japan is in the midst of the peak summer aluminium consumption season. Copper dipped $25 to be bid at $8,105/mt at 0910 GMT, while lead was off $14 at $2,126/mt as the market retreated from overnight highs around $2,195/mt. Zinc saw a higher turnover than copper on LME Select as the market bucked the declining trend elsewhere to edge up $20 by 0910 GMT, bid at $1,865/mt. Nickel slipped $70 to $20,430/mt, while tin was off $100 at $23,350/mt. World tin consumption showed a slight increase in the first five months of 2008, ITRI said Wednesday.

Quoting preliminary statistics released by the World Bureau of Metal Statistics, ITRI said that global refined tin consumption is estimated to have increased by 1.1% to 147,900 mt in January-May compared to the same period of 2007. The WBMS data shows that growth in Asia has been partly offset by declines in apparent consumption in the USA and Europe. Chinese demand rose by 11.2% and Japanese consumption rose by 5.8% compared with the depressed 2007 total. However US consumption is estimated to have fallen by 24.1%, while EU27 demand declined by 8.1%, ITRI said. Standard aluminium alloy edged up $5 to be bid at $2,585/mt, while there were no bids for North American alloy as of 0910 GMT on LME Select.

http://www.worldscrap.com/modules/ne...e.php?aid=8053 ■

Base metals prices edged lower in thin volumes during London Metal Exchange premarket trade Wednesday. "They're all drifting lower, partly on a lack of interest. The dollar is improving a bit and they're testing a bit on the downside, but there's very little going on," said a trader with one LME ring dealer. "There's nothing dramatic going on. It's a typical summer period -- there's very little interest, it's just down to the people who want to play it," he said. "We've been here before. They'll have to a go a bit lower to activate some sell-stops and nervous liquidation." Aluminium prices eased lower in early trade, with three-months aluminium bid at $3,017/mt at 0910 GMT, down $13 from Tuesday's evening kerb close. Prices have retreated steadily from record peaks of $3,380/mt earlier this month, and the move lower has seen aluminium consumers in Japan and South Korea breathe easier this week, local market sources said.

Sources said consumers, who had kept quiet for two weeks, were back this week fixing prices for their aluminium purchases. "Consumers had waited enough, some could not wait any longer for LME prices to come down further," said a Japanese trader. Some consumers were still wary of the dollar firming against the yen this week to Yen 107, from Yen 104 last Wednesday, but they decided to fix prices this week nevertheless, the trader added. Japan is in the midst of the peak summer aluminium consumption season. Copper dipped $25 to be bid at $8,105/mt at 0910 GMT, while lead was off $14 at $2,126/mt as the market retreated from overnight highs around $2,195/mt. Zinc saw a higher turnover than copper on LME Select as the market bucked the declining trend elsewhere to edge up $20 by 0910 GMT, bid at $1,865/mt. Nickel slipped $70 to $20,430/mt, while tin was off $100 at $23,350/mt. World tin consumption showed a slight increase in the first five months of 2008, ITRI said Wednesday.

Quoting preliminary statistics released by the World Bureau of Metal Statistics, ITRI said that global refined tin consumption is estimated to have increased by 1.1% to 147,900 mt in January-May compared to the same period of 2007. The WBMS data shows that growth in Asia has been partly offset by declines in apparent consumption in the USA and Europe. Chinese demand rose by 11.2% and Japanese consumption rose by 5.8% compared with the depressed 2007 total. However US consumption is estimated to have fallen by 24.1%, while EU27 demand declined by 8.1%, ITRI said. Standard aluminium alloy edged up $5 to be bid at $2,585/mt, while there were no bids for North American alloy as of 0910 GMT on LME Select.

http://www.worldscrap.com/modules/ne...e.php?aid=8053 ■

Copper has been in the news as the metal of choice for thieves around Wichita.

David Vaughn asks, "If the world has a large supply of copper, and so much is available, why is it so expensive?"

Good question.

Copper is one of our most used, most common metals. The supply of copper in the United States is plentiful. For a while, copper was not expensive. As a result, it is used in nearly everything, which has, in turn, increased demand.

According to livescience.com, the high demand drove the price of copper higher. The spike, according to the website, came in the early 2000s.

That's the reason copper thefts are now about as common as copper itself. No one was stealing copper in the '90s, but now, it seems not a scrap of copper is safe from thieves.

But, with the abundant supply, why the high prices? The answer is that the United States has a large amount, but other countries do not.

The global demand has, as a result, increased the price.

http://www.worldscrap.com/modules/ne...e.php?aid=8061 ■

Copper has been in the news as the metal of choice for thieves around Wichita.

David Vaughn asks, "If the world has a large supply of copper, and so much is available, why is it so expensive?"

Good question.

Copper is one of our most used, most common metals. The supply of copper in the United States is plentiful. For a while, copper was not expensive. As a result, it is used in nearly everything, which has, in turn, increased demand.

According to livescience.com, the high demand drove the price of copper higher. The spike, according to the website, came in the early 2000s.

That's the reason copper thefts are now about as common as copper itself. No one was stealing copper in the '90s, but now, it seems not a scrap of copper is safe from thieves.

But, with the abundant supply, why the high prices? The answer is that the United States has a large amount, but other countries do not.

The global demand has, as a result, increased the price.

http://www.worldscrap.com/modules/ne...e.php?aid=8061 ■

With the 3 month moratorium by Indian steel majors on holding to their reduced price line slated to expire early next month, Indian government has made it clear that any sharp increase in prices by the producers could attract fiscal measures as the inflation is still high and has again urged steel makers to be reasonable.

Mr Ram Vilas Paswan union minister of steel told media that government will discourage steel firms from increasing prices after a 3 month freeze, which the companies had agreed to ends early next month.

Mr Paswan said that "I have instructed the steel secretary to see that steel companies do not raise prices according to their own will. There must be a reason behind price increase. They must explain their compulsion to increase prices.

Steel firms say they need to increase prices as the cost of inputs is rising, but Paswan said the government would verify this on the basis of the experience of state run firms.

As per a report in ET, the steel ministry is understood to have asked state run Steel Authority of India Limited to maintain prices at current levels for a few more months. With SAIL controlling over 30% of domestic market, this decision would mean that other companies would also have to resist any price rise.

The report added that the steel ministry is also likely to meet companies next week seeking extension of the price moratorium for a few more months.

http://www.worldscrap.com/modules/ne...e.php?aid=8080 ■

With the 3 month moratorium by Indian steel majors on holding to their reduced price line slated to expire early next month, Indian government has made it clear that any sharp increase in prices by the producers could attract fiscal measures as the inflation is still high and has again urged steel makers to be reasonable.

Mr Ram Vilas Paswan union minister of steel told media that government will discourage steel firms from increasing prices after a 3 month freeze, which the companies had agreed to ends early next month.

Mr Paswan said that "I have instructed the steel secretary to see that steel companies do not raise prices according to their own will. There must be a reason behind price increase. They must explain their compulsion to increase prices.

Steel firms say they need to increase prices as the cost of inputs is rising, but Paswan said the government would verify this on the basis of the experience of state run firms.

As per a report in ET, the steel ministry is understood to have asked state run Steel Authority of India Limited to maintain prices at current levels for a few more months. With SAIL controlling over 30% of domestic market, this decision would mean that other companies would also have to resist any price rise.

The report added that the steel ministry is also likely to meet companies next week seeking extension of the price moratorium for a few more months.

http://www.worldscrap.com/modules/ne...e.php?aid=8080 ■

WorldScrap- LME nickel was closed at 18850USD, climbed up 350USD from earlier day, and the stainless steel price has seen a rising of 30USD from earlier day. Nickel was quoted at 21714USD in China market, advanced 290USD from yesterday. The scrap stainless steel price kept in flatness while the market maintained in stagnancy on such dimmed buying intention, which pushed the investors into negative atmosphere.

WorldScrap

* The copying, republication or redistribution of World Scrap News Content is expressly prohibited without the prior written consent of World Scrap News. All rights reserved ■

WorldScrap- LME nickel was closed at 18850USD, climbed up 350USD from earlier day, and the stainless steel price has seen a rising of 30USD from earlier day. Nickel was quoted at 21714USD in China market, advanced 290USD from yesterday. The scrap stainless steel price kept in flatness while the market maintained in stagnancy on such dimmed buying intention, which pushed the investors into negative atmosphere.

WorldScrap

* The copying, republication or redistribution of World Scrap News Content is expressly prohibited without the prior written consent of World Scrap News. All rights reserved ■

JMB reported that ferrous scrap price dropped around Osaka for 2 weeks in a row when local steel makers get more scrap arrivals. Local electric furnace steel makers reduced the purchase price by JPY 500 to JPY 1,000 to JPY 71,000 to JPY 72,000 per tonne for H2 grade last week, which was JPY 1,250 or 2% lower than recent peak.

http://www.worldscrap.com/modules/ne...e.php?aid=8117 ■

JMB reported that ferrous scrap price dropped around Osaka for 2 weeks in a row when local steel makers get more scrap arrivals. Local electric furnace steel makers reduced the purchase price by JPY 500 to JPY 1,000 to JPY 71,000 to JPY 72,000 per tonne for H2 grade last week, which was JPY 1,250 or 2% lower than recent peak.

http://www.worldscrap.com/modules/ne...e.php?aid=8117 ■

MUMBAI, July 31 (Reuters) - India's copper futures stayed firm on Thursday on the Multi Commodity Exchange of India Ltd (MCX) tracking overseas markets where tight supplies replaced worries that industrial demand was waning.

A Mexican copper miner said on Wednesday it had no set date to resume production at a mine, helping prices rise.

The metal may remain firm in the rest of the session supported by likely higher U.S. GDP data and firm crude oil, said Praveen Singh, analyst at Sharekhan Commodities Pvt Ltd.

Higher GDP would brighten the demand outlook for the metal as it is mainly used in infrastructure and housing construction.

At 6:27 p.m., August copper MCCQ8 was at 345.60 rupees per kg, up 0.95 percent from the previous day.

The metal could trade within 340 rupees to 350 rupees, with a bias on the upside, Singh said.

ZINC, LEAD:

Zinc and lead prices rose after China started tightening supplies, said Debjyoti Chatterjee, associate vice-president of MAPE ADMISI Commodities Pvt Ltd.

Overseas zinc futures jumped over 6 percent on Thursday after top producer China cancelled export rebates in a move that could curb the flow of Chinese zinc into the world market.

The Chinese tax rebate of five percent for super high-grade zinc, used as a galvanizing agent on steel, will come into effect from Aug 1. See

At 6:30 p.m., August zinc MZIQ8 traded at 83.10 rupees per kg, up 3.04 percent from the previous day.

August lead MLDQ8 traded at 96.45 rupees per kg, up 2.44 percent from the previous day.

Nickel futures edged up due to a drop in warehouse stocks, analysts said.

August Nickel MNKQ8 was at 807 rupees per kg, up 0.4 percent.

http://www.worldscrap.com/modules/ne...e.php?aid=8156 ■

MUMBAI, July 31 (Reuters) - India's copper futures stayed firm on Thursday on the Multi Commodity Exchange of India Ltd (MCX) tracking overseas markets where tight supplies replaced worries that industrial demand was waning.

A Mexican copper miner said on Wednesday it had no set date to resume production at a mine, helping prices rise.

The metal may remain firm in the rest of the session supported by likely higher U.S. GDP data and firm crude oil, said Praveen Singh, analyst at Sharekhan Commodities Pvt Ltd.

Higher GDP would brighten the demand outlook for the metal as it is mainly used in infrastructure and housing construction.

At 6:27 p.m., August copper MCCQ8 was at 345.60 rupees per kg, up 0.95 percent from the previous day.

The metal could trade within 340 rupees to 350 rupees, with a bias on the upside, Singh said.

ZINC, LEAD:

Zinc and lead prices rose after China started tightening supplies, said Debjyoti Chatterjee, associate vice-president of MAPE ADMISI Commodities Pvt Ltd.

Overseas zinc futures jumped over 6 percent on Thursday after top producer China cancelled export rebates in a move that could curb the flow of Chinese zinc into the world market.

The Chinese tax rebate of five percent for super high-grade zinc, used as a galvanizing agent on steel, will come into effect from Aug 1. See

At 6:30 p.m., August zinc MZIQ8 traded at 83.10 rupees per kg, up 3.04 percent from the previous day.

August lead MLDQ8 traded at 96.45 rupees per kg, up 2.44 percent from the previous day.

Nickel futures edged up due to a drop in warehouse stocks, analysts said.

August Nickel MNKQ8 was at 807 rupees per kg, up 0.4 percent.

http://www.worldscrap.com/modules/ne...e.php?aid=8156 ■

NEW DELHI: The Centre is considering a proposal to bring iron ore under price control in an attempt to check steel prices. In a move aimed at checking volatility in the spot market, the government is planning to make it mandatory for miners to sign long-term supply contracts with steel companies instead of selling at high spot prices.

The move follows the sharp rise in ore prices, which has pushed up the cost of steel-making. The government has got steel manufacturers to announce a voluntary moratorium on price hikes. It has, however, failed to get a similar commitment from miners.

¡°The committee of secretaries (CoS) reviewing prices of essential commodities has decided that high-grade ore, especially lumps, would be provided at reasonable prices to steel producers to check metal price escalation. Ministries of steel, mines and commerce will now take action to arrange meetings between iron ore miners and independent steel producers to facilitate preferential pricing formula and enforce long-term contracts,¡± an official source said.

The CoS decision is based on a steel ministry proposal which says that all efforts to contain steel prices would go waste if iron ore lump prices continue to rise. This would increase the price of sponge iron and pig iron and, in turn, impact steel prices.

Lump prices have gone up between Rs 500 and Rs 1,000 per tonne in the last two months. The CoS may also ask the mining ministry to seek a voluntary moratorium on price hikes from mining companies on a temporary basis, similar to the one followed by steel companies.

¡°The moratorium plan is completely absurd. There is already a 15% ad valorem duty on ore exports and any further control would just kill the industry,¡± said a mining company executive who did not wish to be named. He added that prices have moved up only in the case of lumps, which are consumed to the extent of just over 13 million tonne by sponge iron units whose requirements are not regular.

Out of the total domestic ore production of 190 million tonne, 85 million tonne is consumed by the domestic industry. Out of the total domestic consumption, 56% is bought from open market by steel companies. While state-owned NMDC is the largest ore supplier accounting for almost 28% of domestic sales, the remaining is supplied by private miners who sell ore at higher spot prices.

Iron ore is the basic raw material for producing steel and accounts for almost 25% of the cost of steel-making. Any increase in ore prices affects the cost structure of steel companies and generally leads to higher steel prices.

Higher ore prices, coupled with a 200% increase in coking coal prices are among the reasons cited by steel manufacturers to raise steel prices. In May, the companies had agreed to reduce steel prices by Rs 4,000 per tonne and have been holding prices ever since then.

http://www.worldscrap.com/modules/ne...e.php?aid=8189 ■

NEW DELHI: The Centre is considering a proposal to bring iron ore under price control in an attempt to check steel prices. In a move aimed at checking volatility in the spot market, the government is planning to make it mandatory for miners to sign long-term supply contracts with steel companies instead of selling at high spot prices.

The move follows the sharp rise in ore prices, which has pushed up the cost of steel-making. The government has got steel manufacturers to announce a voluntary moratorium on price hikes. It has, however, failed to get a similar commitment from miners.

¡°The committee of secretaries (CoS) reviewing prices of essential commodities has decided that high-grade ore, especially lumps, would be provided at reasonable prices to steel producers to check metal price escalation. Ministries of steel, mines and commerce will now take action to arrange meetings between iron ore miners and independent steel producers to facilitate preferential pricing formula and enforce long-term contracts,¡± an official source said.

The CoS decision is based on a steel ministry proposal which says that all efforts to contain steel prices would go waste if iron ore lump prices continue to rise. This would increase the price of sponge iron and pig iron and, in turn, impact steel prices.

Lump prices have gone up between Rs 500 and Rs 1,000 per tonne in the last two months. The CoS may also ask the mining ministry to seek a voluntary moratorium on price hikes from mining companies on a temporary basis, similar to the one followed by steel companies.

¡°The moratorium plan is completely absurd. There is already a 15% ad valorem duty on ore exports and any further control would just kill the industry,¡± said a mining company executive who did not wish to be named. He added that prices have moved up only in the case of lumps, which are consumed to the extent of just over 13 million tonne by sponge iron units whose requirements are not regular.

Out of the total domestic ore production of 190 million tonne, 85 million tonne is consumed by the domestic industry. Out of the total domestic consumption, 56% is bought from open market by steel companies. While state-owned NMDC is the largest ore supplier accounting for almost 28% of domestic sales, the remaining is supplied by private miners who sell ore at higher spot prices.

Iron ore is the basic raw material for producing steel and accounts for almost 25% of the cost of steel-making. Any increase in ore prices affects the cost structure of steel companies and generally leads to higher steel prices.

Higher ore prices, coupled with a 200% increase in coking coal prices are among the reasons cited by steel manufacturers to raise steel prices. In May, the companies had agreed to reduce steel prices by Rs 4,000 per tonne and have been holding prices ever since then.

http://www.worldscrap.com/modules/ne...e.php?aid=8189 ■

AK Steel Corp. officials announced that a $1,040 per ton surcharge will be added to invoices for electrical steel products shipped in September.

In addition, a complete list of September surcharges for the broad range of stainless steel products AK Steel produces can be found on the company's Web site at www.aksteel.com.

Company officials said their surcharges are based on reported prices for raw materials and energy used to manufacture the products. The July 2008 purchase cost was used to determine the September surcharges.

Russian firm not interested in AK

WEST CHESTER TWP. ¡ª Russian steelmaker Evraz has denied interest in purchasing AK Steel Corp.

Deputy CEO Vasily Migunov reportedly told Business Today on Tuesday, Aug. 5 it had "no interest" in the local Fortune 500 company.

Earlier this month, German steelmaker ThyssenKrupp denied it might be interested in buying AK Steel after media reports linked the company to a possible buyout deal.

There has been speculation that AK may be entertaining sales talks with multiple parties, such as ThyssenKrupp, Evraz and Russia's largest steelmaker Severstal were involved in sale negotiations with the company.

Analysts have said the sales talk rumors were most likely dropped by investors trying to boost AK's stock price.

The company's stock increased 38 cents to close at $53.37 on Wednesday, Aug. 6.

Investment firm adds BAES shares

WEST CHESTER TWP. ¡ª Parametric Portfolio Associates has boosted its shares in BAE Systems by almost 16 percent, according to a securities filing.

The investment firm added an additional 29,885 shares to its portfolio, bringing its total holdings to 216,827 shares.

London-based BAE Systems has a 90,000-square-foot office and manufacturing facility in West Chester Twp. and employs 1,600 people there.

http://www.worldscrap.com/modules/ne...e.php?aid=8232 ■

AK Steel Corp. officials announced that a $1,040 per ton surcharge will be added to invoices for electrical steel products shipped in September.

In addition, a complete list of September surcharges for the broad range of stainless steel products AK Steel produces can be found on the company's Web site at www.aksteel.com.

Company officials said their surcharges are based on reported prices for raw materials and energy used to manufacture the products. The July 2008 purchase cost was used to determine the September surcharges.

Russian firm not interested in AK

WEST CHESTER TWP. ¡ª Russian steelmaker Evraz has denied interest in purchasing AK Steel Corp.

Deputy CEO Vasily Migunov reportedly told Business Today on Tuesday, Aug. 5 it had "no interest" in the local Fortune 500 company.

Earlier this month, German steelmaker ThyssenKrupp denied it might be interested in buying AK Steel after media reports linked the company to a possible buyout deal.

There has been speculation that AK may be entertaining sales talks with multiple parties, such as ThyssenKrupp, Evraz and Russia's largest steelmaker Severstal were involved in sale negotiations with the company.

Analysts have said the sales talk rumors were most likely dropped by investors trying to boost AK's stock price.

The company's stock increased 38 cents to close at $53.37 on Wednesday, Aug. 6.

Investment firm adds BAES shares

WEST CHESTER TWP. ¡ª Parametric Portfolio Associates has boosted its shares in BAE Systems by almost 16 percent, according to a securities filing.

The investment firm added an additional 29,885 shares to its portfolio, bringing its total holdings to 216,827 shares.

London-based BAE Systems has a 90,000-square-foot office and manufacturing facility in West Chester Twp. and employs 1,600 people there.

http://www.worldscrap.com/modules/ne...e.php?aid=8232 ■