Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing’s relations with Vietnam, which claims parts of the sea, […]
Category: Commodities
Chinese state oil giants Sinopec and PetroChina are waging war at the nation’s gas pumps, slashing prices at unprecedented rates in an effort to reclaim sales lost to private local and foreign rivals in the $440 billion retail fuel market. The rare price war kicked off in late March as Sinopec reported first quarter retail […]
The major Chinese steel city of Tangshan has launched a fresh crackdown on mills that illegally restart production or violate industry overcapacity rules, according to a notice published by the China Iron and Steel Association on Monday. Tangshan, in Hebei province, produced 88.3 million tonnes of steel last year, up 6.8% on the year and […]
Fund managers and steel companies have invested more than 1 billion yuan in China Baowu Steel Group’s online trading subsidiary Ouyeel as part of a pilot project tied to state-owned enterprise (SOE) reform, Caixin reports. The commitment by investors including Beijing Shougang Fund Investment Co. and Benxi Steel Group Corp. complements Ouyeel’s implementation of an […]
The US steel industry is pushing the Trump administration to take a sweeping view of what constitutes national security, as it seeks a crackdown on imports from China, South Korea and other countries, the Financial Times reports. Donald Trump last month ordered a special investigation into the impact on US national security of steel imports […]