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Friday Stock Watch China Direc

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By: ureplicawatches
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Date: 07/31/2010 11:18:19
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Stock Market Alerts' performance stock list includes: China Direct Industries, Inc. (NASDAQ: CDII), BP plc (NYSE: BP), United States Steel Corporation (NYSE: X) and Anadarko Petroleum Corporation (NYSE: APC).

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This morning , China Direct Industries, Inc. (NASDAQ: CDII) announced that it has issued this press release to clarify that it has acquired 80% of Taiyuan Ruiming YiWei Magnesium Industry Co., Ltd. ("Ruiming Magnesium") Ruiming Magnesium from Pine Capital Enterprises, Inc. and Taiyuan Yiwei Magnesium Industry Co., Ltd. The approval by the board of directors of China Direct Industries was the final step in the acquisition process.

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As previously announced, Ruiming Magnesium adds 14,000 metric tons of annual magnesium production capacity, with the potential to generate up to $35 million in revenue per year at current price levels, including annual production capacity of 10,000 metric tons of magnesium powder and 4,000 tons of magnesium ingot. Ruiming Magnesium enables the IMG branded operations of China Direct Industries to offer a wider array of magnesium products to its customers throughout the world.

The stock closed at $1.21 a share a share.

For an in-depth profile of China Direct Industries, visit .

BP plc (NYSE: BP) up 7.5% on 74.8 million shares traded.

BP is one of the world's largest energy companies, with interests in more than 100 countries and over 96,000 employees.

United States Steel Corporation (NYSE: X) down 0.8% on 10.6 million shares traded.

United States Steel Corporation is one of the leading steel companies in the U.S.

Anadarko Petroleum Corporation (NYSE: APC) up 3.1% on 11.5 million shares traded.

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare.

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