MIAMI, FL -- (Marketwire) -- 07/27/10 -- Stock Market Alerts' performance stock list includes: China Direct Industries, Inc. (NASDAQ: CDII), AK Steel (NYSE: AKS), Apache Corporation (NYSE: APA) and Titanium Metals Corporation (NYSE: TIE).
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This morning, China Direct Industries, Inc. (NASDAQ: CDII) announced that it has issued this press release announcing that it has received several contracts to sell pure magnesium ingot valued at approximately $9.6 million. The contracts, call for delivery by the end of calendar year 2010, were derived through its IMG sales and marketing unit.
China Direct Industries launched International Magnesium Group, "IMG," in 2009 in an effort to create an international brand to be known for quality and reliability in magnesium related products. Through IMG we have unified our marketing efforts for our magnesium operations. IMG focuses on building long term relationships and securing long term contracts. IMG derived one of these contracts through the utilization of an innovative new cost indexed pricing formula that management believes may someday be the benchmark for the way the industry currently prices its magnesium products.
Commenting on the contracts, Dr. James Wang, Chairman and CEO of China Direct Industries, Inc., stated, "We are excited to have received these orders through the direct marketing efforts of IMG. We believe that by marketing IMG as a leading manufacturer and a U.S. public company that stands behind our pricing guarantee and shipment commitments, we can establish a competitive advantage in the magnesium industry. Additionally, we believe our pricing strategy will enable market stabilization which is critical to the long term health of our industry. These contracts represent a positive step toward our efforts to gain market share through strong long term relationships as the global demand for magnesium continues to improve."
The stock closed at $1.20 a share a share.
For an in-depth profile of China Direct Industries, visit
AK Steel (NYSE: AKS) down 1.3% on 10.2 million shares traded.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.
Apache Corporation (NYSE: APA) up 2.9% on 8.2 million shares traded.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom North Sea, Australia and Argentina.
Titanium Metals Corporation (NYSE: TIE) up 2.3% on 3.3 million shares traded.
Titanium Metals Corporation is a leading worldwide producer of titanium metal products.
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