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China’s imports of copper ore and concentrates in November rebounded by 130,000 tonnes or 8.3% from October to 1.7 million tonnes, to take total imports during January to November higher by 2.57 million tonnes or 16.4% on year to 18.25 million tonnes, according to the latest data from China’s General Administration of Customs released on Saturday.
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China’s aluminum smelters have been obliged to cut down on their production as all their margins have been squeezed with this nonferrous metal price being now below the production cost after the recent free fall while alumina price has been holding firm, market sources said on December 6.
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East China’s Shandong province, the largest production base for primary aluminum in China, has announced a plan to restructure the province’s huge aluminum sector over the coming seven years which, if realised, will have a profound impact on China’s processing and fabrication sector.
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State-owned China Minmetals Group has signed a five-year copper cathode procurement contract with KGHM, formerly known as the Polish State Mining and Metallurgical Combine, according to a release from China’s State-owned Assets Supervision and Administration Commission of the State Council.
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Beijing’s shift of its focus onto detailed air pollution
control guidelines for the “2+26” cities over October 1-March 31 2019, which
differs from the specific and detailed blanket control over polluting
industries including steel on their capacities,will by no meanssuggest “the loosening in control or lower severity
in essence from the 2017 winter”, according
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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Minerals and Metals Group (MMG), a nonferrous mining subsidiary of China Minmetals Corporation (CMC) in Australia, said that its copper in concentrate production in the September quarter would not reach forecast rates, it revealed on September 18. The company cited localized wall instability restricting access to mining in sections of
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Chinese domestic aluminum prices are seen fluctuating in a narrow band this month but will basically remain firm as higher production costs are giving support for the light metal’s price, market sources said on September 7.
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Hongkong-listed Zijin Mining Group, also a top gold and copper miner in China, will fully acquire Canada’s Nevsun Resource, a prospective nonferrous mining company with copper, zinc and gold resources in Africa and Serbia of Europe, at a cost of $1.39 billion, all in cash payment, according to a Zijin announcement on September 6.
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China’s Ministry of Industry and Information Technology listed another seven domestic copper smelters on its website for public review over August 28-Sptember 28 before formally granting them the qualification certificates.
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China imported about 1.85 million tonnes of copper concentrates in July, with the monthly growth of 5% down by a large 6.3 percentage points from that in June, according to the latest data from China’s General Administration of Customs released on August 8. During the period from January to July, China’s total imports of Cu concentrates was still an impressive 18.2% higher at 11.4 million tonnes.
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Yunnan Aluminum Co, a Shenzhen-listed company headquartered in Southwest China’s Yunnan province, aims to increase its H2 aluminum production by 21.2% from H1 to 930,000 tonnes via the commissioning of two ongoing aluminum projects inside the province, according to the company’s interim report released on August 7.
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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Anglo American, a major nonferrous and ferrous mining company in the world, has decided to develop a copper mine at 300,000 tonnes/year in metal in Quellaveco, South Peru, according to a company release on July 26.
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Copper prices in China are increasing at quick pace after continuously retreating for the most of July and are now catching up with the higher levels they reached a month ago, market watchers said Wednesday. The most-traded copper futures contract on Shanghai Futures Exchange, that for September, surged almost to the Yuan 50,000/tonne ($7,353/t) level on July 25, closing at Yuan 49,910/t, up by Yuan 710/t over the settlement price the previous day.
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The most-traded September nickel contract on the Shanghai Futures Exchange continued with its declines for the fourth straight day on July 17 on finding little support from China's latest economic statistics, as all have been within expectation, confirming a gradual slowing China's economy, market sources shared.
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China's primary aluminum output has been remaining largely steady, as the production for the first half of 2018 grew moderately by 1.6% on year to 16.5 million tonnes, and the June output alone up 0.8% on year to about 2.8 million tonnes, according to the latest data released on July 16 by China's National Bureau of Statistics.
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For the first half of 2018, China imported 9.6 million tonnes of copper concentrates, up 1.3 million tonnes or 15.7% on year with the June volume accounting for 1.8 million tonnes, according to the latest release by China's General Administration of Customs.
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The most-traded September copper contract on the Shanghai Futures Exchange pulled up on Monday, ending three successive days of declines, amid the investors' growing enthusiasm on nonferrous derivatives on noting less-than-expected US economic performance in June.
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The escalated trade tension between China and US, the world's two biggest economic powers, has cast a long shadow over metal futures markets, with the most-traded copper contract on the Shanghai Futures Exchange on Thursday - that for August delivery - closing at Yuan 49,330/tonne ($7,589/t), lower by Yuan 1,440/t from the previous day's settlement price.
