• Michelin investing €75 million in Chinese venture

      01/01/1900
    Paris – 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  
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  • Battle for bigger share of the white metal

      01/01/1900
    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.  
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  • Viet Nam forced to import coal

    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.
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  • Copper Market May See Shortage of Supplies for Third Year on China Demand

      01/01/1900

    Copper 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.

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  • Dollar Rises Against Euro, Kiwi, Aussie in Early Trades on Risk Aversion

      01/01/1900
    The U.S. dollar advanced against the
    euro, the Australian and New Zealand currencies, extending gains
    from last week that had come amid concern Europe’s sovereign-
    debt crisis will worsen.  
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