NEW YORK — China’s leading high-precision steelmaker, China Gerui Advanced Materials Group Ltd., is looking to move into supplying the automotive market as it plans to double capacity by next year.
Nasdaq-listed China Gerui plans to boost its processing capacity to 500,000 tonnes annually by 2011 and move up the value [...]
The Maxim Group estimates were for $56.4m in revenues and $7.9 Million in net income. CHOP beat estimates producing $57.2 million in revenues and $11.4 million in net income.
Fourth Quarter 2009 Highlights
— Revenue increased 45.3% to $57.2 million from $39.4 million in the
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CHOP will announce their Full Year 2009 earnings next week. The company’s product demand is a direct result of the increasing consumer demand (buying habits) in China. Chinese premier Wen Jiabao mapped out the country’s growth plan for the next five years at the annual National People’s Congress. Ian McGuinn, head of operations & research [...]
Read the rest of this entry »Rising Production Looks Unlikely to Exceed Demand, Propelling Prices Higher World-Wide for Raw Materials
By ROBERT GUY MATTHEWS
China’s surging demand for steel this year is expected to dominate the landscape of the steel industry as never before.
Already the world’s largest producer by far, the country is expected to rev up production by nearly 10%. But the [...]
Dec. 10 (Bloomberg) — China, the world’s largest steel consumer, will impose provisional duties on some U.S. and Russian imports following anti-dumping and subsidy investigations, escalating a trade spat started in September.
Flat-rolled electrical steel products from steelmakers including AK Steel Holding Corp., OAO Novolipetsk Steel and Allegheny Ludlum Corp., would attract duties of as much [...]
