Boeing Co. has signed deals to sell 300 aircraft to three Chinese firms and set up an aircraft plant in China, becoming the first U.S. firm to clinch a business tie-up in the country since Chinese president Xi Jinping began a U.S. state visit, the official Xinhua news agency said. The aircraft deals, potentially worth tens of billions of dollars in total, are collectively the largest order the aerospace…

The Brembo Group inaugurated its new production hub today for the manufacturing of aluminum brake calipers in Nanjing, located in China's Jiangsu province. President Alberto Bombassei was there to welcome the distinguished Italian and Chinese authorities who were present. After nearly 20 years of operating in the Chinese market, Brembo has set up a new production hub next to the existing plant where brake…

It is reported that pig iron market goes on dull operation in Shandong with weak transactions. Mainstream price stands at CNY 2,300 per tonne to CNY 2,320 per tonne for steelmaking pig iron or even lower. Laiwu Steel offers purchase price at CNY 2,330 per tonne deliver-to-mill while Jinan Steel still suspend buying. Shiheng Special Steel posts the price at CNY 2,300 per tonne deliver to mill. Some…

It is reported that China First Heavy Industries, the bellwether of China's heavy duty equipments manufacturer, has speeded up the construction of the world's largest casting & forging steel production base. As per report, with total spending of CNY 4 billion 80% of the construction work has been completed, and started to take up some national key large castings and forgings projects like the unclear power…

China Iron and Steel Association disclosed that its latest survey shows evident price manipulation on the iron market. Therefore, it suggests the implementation of a national reserve strategy. According to the Association, China iron ore imports account for 75% of the world total iron ore trade through sea shipping. However, the global market of iron ore is monopolized by the top three foreign miners…

China Securities Journal reported that stung by the low levels of steel exports in January and February 2009, China iron & Steel Association has submitted a proposal to raise up steel export rebate with relevant department including the Ministry of Finance. A CISA official said falling exports are expectable, not disclosing more details about the proposal, but as learned from some well informed source, the…

CLN SpA announce that on February 29th its subsidiary, MW Italia SpA has finalized an agreement with Shanghai Baosteel International Economic and Trading Co Ltd to form a Joint Venture to manufacture steel wheels for passenger vehicles and light and heavy duty commercial vehicles. The new production facility will be built in Chongqing area in China. The transaction is a further step in the strategy of MW to…

It is reported that Wuhan Iron and Steel Group plans to spend CNY 10 billion to build the Wuhan Iron and Steel High-tech Industrial Park within Donghu High-tech Development Park. According to WISCO, the park will occupy 3,000 mu and will be divided into three phrases over the next five years. The center will be devoted to information and automation, new energy, electronic products, metallurgy industrial…

To raise utility of new production capacity, China Steel Corporation has recently inked a cooperation agreement with Jianghuai Automobile Co, which requires CSC to supply 2,000 tonnes of cold rolled steel plates per month to JAC Group to create TWD 500 million in business opportunities yearly. JAC makes a line of independently branded vehicles in China, including light, mid and heavy duty trucks, MPV, SRV,…

ALUMINUM is the new sparkle in China’s auto industry as carmakers weigh its lightweight, energy-saving attributes in commercial applications. The contest between conventional steel bodies and ones made with aluminum is reminiscent of a Chinese martial arts competition. Steel is strength and masculinity, harking back to northern Shaolin monks whose bodies were as tough as iron. Aluminum is dexterous and…