ArcelorMittal opens maiden steel plant in China through joint venture

 ET Auto

 
 
 
 
 
 
 
 
 
 
 
 
NEW DELHI: NRI billionaire Laxmi Mittal-led
 
ArcelorMittal today opened its first steel making facility in China through a joint venture, VAMA, aimed at catering to the local automotive market with $ 832 million investment.
Valin ArcelorMittal Automotive Steel Co (VAMA), in which Chinese firm Hunan Iron and Steel Co also has stake, has an annual capacity of producing 1.5 million tonnes high-strength automotive steels. China imports such steel to meet domestic need, the world's largest steel maker said in a statement.
"VAMA will produce state-of-the-art grade steels for safe and cost-efficient light-weight design, superior surface quality and coating technology, helping to meet rapid growth in demand

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These 2 Things Could Give DryShips 33% Upside

Jun. 9, 2014 9:23 AM ET | About: DryShips Inc. (DRYS), Includes: ORIG by: Quoth the Raven

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More...)

Summary

  • DryShips has been clipped      20% in the last three months.
  • Ocean Rig, majority owned      by DryShips, recently signed a significant drilling contract for 2015.
  • I continue to swear that      shipping rates cannot stay this low forever, and the Baltic Dry Index      continues to make

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Oryza White Rice Index - Holds Steady as Market Watches Thailand Political Crisis, El Nino Impact

 

The Oryza White Rice Index, a weighted average of global white rice export quotes, ended this week at $462 per ton, unchanged from a week ago, up about $7 per ton from a month ago and down about $17 per ton from a year ago. ThailandThailand 5% broken rice (new crop) is today shown at about $385 per ton, up about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $110 per ton from a year ago. The Thai Rice Farmers Association is asking the current military government to consider alternatives to assist rice farmers after the rice pledging scheme ended in February 2014.  In addition to recommending financial assistance in the

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Ethanol Producer Green Plains Has Plans to Feed Its Own Cattle

 

 

Green Plains Inc. (GPRE), which just became the first major ethanol producer to buy its own cattle-feed yard, has plans to milk it for more -- by buying the cattle too.

The fourth-largest ethanol maker in the U.S. bought the assets of Supreme Cattle Feeders from Agri Beef Co., including a feed yard and a grain storage facility near Kismet, Kansas, for $15 million. The move marks a shift for the Omaha, Nebraska-based company from selling distillers grain, a byproduct of ethanol production known as DDGS, to directly feeding it to cattle that the company plans to eventually buy, Todd Becker, Green Plains’ chief executive officer, said in a telephone interview today.

“As some of

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Where is liner shipping heading?

 
It could be an industry with mega-vessels or a monopoly

THERE are two incompatible but widespread views on today's liner shipping industry. One is that it is a highly efficient money-making machine that is increasingly dominated by a few players, to the detriment of cargo owners and, ultimately, consumers - PHOTO: BLOOMBERG

 

THERE are two incompatible but widespread views on today's liner shipping industry. One is that it is a highly efficient money-making machine that is increasingly dominated by a few players, to the

detriment of cargo owners and, ultimately, consumers. The other is that, despite continual efficiency gains, unregulated competition and resulting overcapacity prevent the

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