International News
November 2008

Global crude steel production sank 3.2 per cent in September to 108.4 million tonnes in the 66 countries reporting to the World Steel Association, formerly known by its acronym IISI. “In September 2008, the world crude steel production moving annual total (MAT) growth rate further slowed to 4.7 per cent from 5.






November 2008

China’s Shougang Group has postponed the start-up of a new steel mill on the coast of northern China as steel prices plunged below the cost of production, an executive said. The company’s Caofeidian mill, in Hebei province, was previously scheduled to start production on October 18 and no new date has been set, reports Reuters.






November 2008

An index of US factory activity has declined for four straight quarters and indicates the pace of activity will continue slowing for the next three to six months, a manufacturing industry group said.






November 2008

Britain’s economy is probably entering its first recession in 16 years, and the outlook has not worsened as rapidly as it has in September for a very long time, Bank of England Governor Mervyn King said.






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