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05 September 2008

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Latest headlines from CRU News

Supply glut causes EU scrap prices to drop €100/t
Overstocking in scrap and finished steel continues to depress demand in Europe, which has resulted in more swingeing price cuts on all scrap grades this month. more

5 Sep | Mills hold back from making offers in quiet longs market

Xstrata lifts stake, Indophil shares dive
Xstrata said it was boosting its stake to just below 20% in Indophil Resources, which saw its shares tumble over lack of confidence in a competing bid. Xstrata, which had been in a bidding war for Indophil, said it bought a 17.8% stake in the company for A$1.17 per share or A$82 million ($66.94 million) from Lion Selection Limited, the firm's largest shareholder. more

5 Sep | Alcoa launches three new wheel lines

5 Sep | Kinross Gold receives approval for Aurelian takeover

Price U-turn for fertilizers on the cards?
FERTILIZER PRICES that have achieved record highs this year following a prolonged upward trend could shortly see a reversal of fortune. In the case of urea, market speculation abounds that the quantity on offer and the evident eagerness on the part of traders to dispose of prior positions... more

5 Sep | Uralkali posts strong H1 results

5 Sep | Power cuts delay restarts into next week

3 Sep | Saudi Arabia - Fujikura acquires MEFC stake to expand optical fibre sales in Mid East

3 Sep | Oman - Indian ambassador visits Oman Cables plant

3 Sep | Malaysia - National HSBB broadband project drives demand for fibre-optic cable

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