Rare Earth Metal Suppliers Monopoly
It seems that China is becoming a major bone of contention for various industries as the rare metal supplier
and owning 95 percent of world’s rare earth production. The World Trade Organization received a formal complaint from Japan, EU and the US against China as the later country has decided to exercise rare earth monopoly on the market and retain most of its production for the domestic market.
After this plan came to light, President Obama severely criticized the country for violating trade relations and spoiling the global supply of rare earth metal
products which is usually used in laptops, mobile phones and other electronic equipments. As a result, the cost of production will shoot up and consumers have to pay more to acquire them. Moreover, it is not that deposits of rare earths cannot be found anywhere else; the startling fact is countries are not interested to invest in mining them.
Responding to the complaint, the Chinese authorities justify their stand saying they want to retain the rare earth metal supplies for its ever expanding domestic market and also to ensure that its deposits do not exhaust sooner and make it impossible to manufacture rare earth metal products.
Alabama: ThyssenKrupp’s two steel factories that are responsible for steel metal product manufacturing have been heftily fined by the State Officials. The factories have been fined for multiple violations of the air permits that have been governing them. The two steel factories that are located in Calvert have been issued with a fine of $95,000
Michigan: The Thumb Loop Project that is being carried out in stages in Michigan is aimed at creating new transmission systems. The project is being carried out by a company known as ITC Holding Corp. which is investing around $510 million in the energy transmission project. The company is manufacturing metal products
Japan: Nippon, the world renowned metal products’ manufacturer, has finally announced that it will be raising the prices of its steel H-Beams, this month too. The company’s price hike will continue for the second consecutive month this year. Japan’s largest producer of H-Beam will be pushing its prices higher by ¥2,000 ($25) per tonne
United States: With a decline in metal products’ demand, the manufacturers and retailers in the industry have pulled up their socks to act intelligent and be creative wherever possible. So where some have changed the production processes for maximum capacity utilization, others have come up with interesting
United Arab Emirates: The PCC Energy Group and the Tenaris has been awarded a major project that involves the supply of 7” and 5 ½” Range-3 Corrosion Resistant Alloy (CRA) in relation with the Abu Dhabi Gas Development Company (ADGDC). Tenaris is the leading manufacturer and supplier of steel pipe products while Precision
Europe: Swagelok is now ready to supply bimetal thermometers as well as thermo wells to the industries. With these products, the company is all set to expand its existing portfolio of metal products. It is especially focusing at adding new products to its temperature measurement device range
Malaysia: In a rare protest by Malaysians against the development and operation of a Misch metal facility built by an Australian, a possible shut down is predicted in the near future. The mining company, Lynas, from Australia is in the process of establishing this Misch metal products plant near Kuantan, a seaside town in the Easters Pahang
China: Fangxing, a China based company that manufactures a number of innovative non-metal and metal products in construction, has come up with a new concept recently. The company has manufactured Ultra fibreglass reinforced plastic or FRP sheets along with wall cladding sheets. These sheets are extremely good in protecting
Recently, Tata announced an investment of 800 million pounds for the Welsh tinplate plants owned by Tata in Wales. The companies spokespersons have not revealed how the investment will be spent exactly but the employees of the Welsh plant are happy with the prospect. Tata only revealed that about 250 million pounds will be
Indonesia: The largest economy of Southeast Asia, has said that it will be banning the shipment of unprocessed metal ores from the coming month. The ban has been levied on ores of all metals including bauxite, on the condition that they are unprocessed. With this action the metal products’ industry once again faces some more