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Aluminum: giant Rusal’s net income plummets 75% in first half due to soaring costs
Russian aluminum giant Rusal on Friday reported a 75 percent drop in first-half net profit due to soaring production costs resulting from dwindling raw material resources, strong inflationary pressures, and international sanctions against Russia. Rusal, one of the...
Iron ore: Vedanta resumes exports from Karnataka after a long hiatus
For the first time in December last year, after the lifting of the ban on foreign sales by mines in the southern Indian state of Karnataka, large volumes of iron ore exports to China were recorded, led by mines operated by Vedanta. As a result, in the last week of...
Biden bans some US technology investments in China
President Joe Biden signed an executive order on Wednesday banning certain new US investments in China in sensitive technologies such as computer chips and requiring government notification in other technology sectors. The long-awaited order authorises the US Treasury...
POSCO restarts CR steel plant No. 2 and electric steel plant No. 1
South Korean steelmaker POSCO Group announced that it has restored and restarted Steel Mill No. 2 and Electric Steel Plant No. 1 in Pohang, after being suspended last September due to the fire caused by Typhoon Hinnamnor. Cold steel mill No. 2, which restarted on 24...