12:00 AM @ 01/01/1900
Geneva, Switzerland —
The World Trade Organisation (WTO) has upheld the US government’s right
to impose elevated tariffs on imports of Chinese passenger and light
truck tyres by denying China’s appeal of an earlier WTO ruling that
found no problems with the US’s actions in 2009.SEE MOREParis – Michelin, Double Coin Holdings and Shanghai Huayi have signed
the final agreement to create a joint venture in China to produce and
market Warrior brand passenger car and light truck tires for the local
market. The new company, Double Coin Group (Anhui) Warrior Tires Co,
will be owned 40% by Michelin and 60% by its Chinese partners. The
Michelin Group will contribute capital of CNY 667 million SEE MORE Aluminium industry officials agree this country’s requirements of the
white metal will continue to rise annually at a pace much higher than
our growth in gross domestic product (GDP). The government is targeting
an annual GDP expansion of nine per cent during the 12th Plan, beginning
April 2012. B L Bagra, chairman of the largely government-owned
National Aluminium Company (Nalco), finds the environment conducive
enough to say the coming many years will see Indian aluminium demand
growing at 13-15 per cent a year. No doubt, the major part of demand
will come from the electrical sector, as has always been the case with
us. At the same time, more of the metal is finding application in
construction, transport and packaging, thanks to growing sophistication
of the economy and the spread of urbanisation. SEE MORE 12:00 AM @ 01/01/1900
The nation is becoming a coal importer due to high demand and dwindling domestic supplies. Last month, the State-owned mining giant Vinacomin Group accepted the country's first-ever batch of imported coal for domestic use.SEE MORECopper will remain in short supply
for a third straight year in 2012 as China-led demand boosts
prices, Japan’s top producer said.
Demand will likely exceed supply by 495,000 metric tons in
2011, the biggest deficit since 2004, compared with 214,000 tons
last year, said Akira Miura, executive officer of the marketing
and raw-material department at Pan Pacific Copper Co., Japan’s
biggest producer. The shortage may shrink to 31,000 tons in 2012,
he said. SEE MORE
