Basic Materials
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RPT-India ships more cotton to China as 25 pct tax spoils U.S. supply
MUMBAI/BEIJING, June 20 India's cotton shipments to China could grow five-fold to 5 million bales (850,000 tonnes) in the next crop year as exporters rack up orders amid a trade war that is forcing the world's top consumer to look for other sources of supply.
Australia's Atlas Iron backs Rinehart's $287 mln Hancock bid
June 21 Atlas Iron on Thursday recommended a A$390 million ($287 million) bid from Australian billionaire Gina Rinehart's Hancock Prospecting after rival suitor Mineral Resources pulled out of the race for the small iron ore miner.
China Energy executives cancel West Virginia trip amid trade dispute
WASHINGTON, June 20 A scheduled trip to West Virginia by executives from China Energy Investment Corp to discuss a planned $83.7 billion investment in the state has been cancelled, the latest victim of a growing trade war between the United States and China.
UPDATE 2-U.S. Commerce Dept probing steel 'profiteering' after tariffs
WASHINGTON, June 20 The U.S. Commerce Department is investigating recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new tariffs, Commerce Secretary Wilbur Ross said on Wednesday.
UPDATE 1-U.S. Commerce Dept finds welded pipe from four countries subsidized
WASHINGTON, June 20 The U.S. Commerce Department on Wednesday announced a preliminary finding that imports of large-diameter welded pipe from China, India, South Korea and Turkey were subsidized by those countries, and said it was imposing preliminary duties that could top 500 percent.
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Chief Economic Adviser Arvind Subramanian latest high profile hire to quit government
NEW DELHI India's Chief Economic Adviser Arvind Subramanian said on Wednesday he was quitting his post to return to academic research in the United States, the third high-profile hire to leave Prime Minister Narendra Modi's economic administration.