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BHP has remained its copper production guidance for FY2020 (July 1 2019-June 30 2020) unchanged at 1.71 -1.82 million tonnes, and its first quarter output over July-September increased by 5% on year to 430,000 tonnes, though it was 3% lower on quarter, according to its latest quarterly production report released on October 17.
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Production summary
Unless otherwise noted: percentage variance
relates to performance during the September 2019 quarter compared with the June
2019 quarter (QoQ); production and sales volumes are reported on an
attributable basis.
Source: South32, released on October 17
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[Para 1 and 2 updated based on the latest development.]
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Nickel production at Brazilian mining giant Vale during this year’s July-September quarter saw a 14.2% quarter-on-quarter increase, amid the gradual resumption of operations, according to the company’s latest quarterly report released on October 14. On the other hand, its copper production remained stable over the same period, mainly due to the strong operational performance at its Salobo complex in Brazil during the three months.
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Shandong Weiqiao Pioneering Group, China’s top and the world’s largest aluminum smelter in East China’s Shandong province is considering building a 2 million tonnes/year aluminum smelting shop in Southwest China’s Yunnan province because of the latter’s abundant hydro power supply and its geographical proximity to South and Southeast Asia, Mysteel Global has learned on Tuesday.
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The semi-annual reports released by some major Chinese automobile producers over the past few days showed that most witnessed declines in their H1 net profit from softening sales amid the overall weakness in the country’s auto industry, Mysteel Global has learned. However, some makers of new energy vehicles (NEVs) still earned good profits during the half.
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The most-traded nickel November contract on the Shanghai Future Exchange (SHFE) closed at its 4.5-year high on September 2 with the prevalent market concern on supply shortage with Indonesia’s probably moving forward the complete ban on nickel ore exports from the originally-planned 2022 to 2020, market sources said.
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Jiangxi Copper Co, a major Chinese copper producer in East China’s Jiangxi province, saw its copper cathode production in the first half of this year increase 3.5% on year to 749,300 tonnes, according to the company’s interim report released on August 30. The company’s net profit for H1 also rose by 1.8% on year to Yuan 1.3 billion ($181.7 million).
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Aluminum Corporation of China Limited (Chalco), the Shanghai-listed arm of China Aluminum Group, saw its net profit in the first half of 2019 decline by a large 14.1% on year, mainly due to the persisting rise in supply of primary ingot nationwide, and the suppressed growth in demand as downstream industries buying its metal continued to struggle, according to the company’s interim report released on August 28.
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Shandong province in East China is still dealing with the damage after the Typhoon Lekima slammed the region on August 11-12, and industrial enterprises such as nonferrous smelters and steel mills have their operations affected, Mysteel Global understood from the local companies on Wednesday.
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The Mirador copper mine in Ecuador, an open-cut mine financed and constructed by a Chinese consortium led by China’s major copper producer Tongling Nonferrous Metals Group Holdings Co (Tongling Group), was officially brought on stream on July 18, a Tongling official confirmed on July 26.
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London-headquartered Chilean copper miner Antofagasta PLC posted a sharp increase in copper production in H1, being up 22.2% on year at 387,300 tonnes, mainly thanks to higher throughput and copper grades at most of its operations, according to its Q2 production report released on July 24.
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Anglo American’s copper production inched up 2% on year to 320,200 tonnes in H1 this year with the contribution from Q2 being 159,100 tonnes, or up 1% on year, both in pure metal, according to the global miner’s latest quarterly report released on July 18.
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Yunnan Aluminum Co, one of China’s major aluminum producers, predicts a 236% year-on-year growth in its net profit over January-June to Yuan 162 million ($23.6 million) amid cost reduction in raw materials and human resources, as well as Chinese government’s lowering VAT, a company official confirmed on July 18.
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Production Summary
(1) Contained metal basis. Reflects copper production from the Copper business unit only (excludes copper production from the Platinum Group Metals business unit).
(2) Wet basis.
(3) Reflects export production from South Africa and attributable export production from Colombia.
(4) Reflects nickel production from the Nickel business unit only (excludes nickel production
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BHP plans to increase copper production to 1.71-1.82 million tonnes (metal contained) for the its Fiscal 2020 year (July 2019-June 2020) from the 1.69 million tonnes for FY19, according to the miner’s latest quarterly operational report released on July 17.
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Hebei Puyang Iron & Steel Co, a privately-owned carbon steelmaker based in North China’s Hebei province, is planning to build a 600,000 tonnes/year nickel pig iron (NPI) plant in Indonesia, an official from the company confirmed on Tuesday.
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Inspectors from the local government of North China’s Shanxi province have begun investigating complaints that alumina plants in the province are responsible for serious leaks from sludge dumps that are causing pollution. Thus, market sources fear alumina supplies could be significantly affected.
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Nickel and copper production at Brazilian mining giant Vale declined during this year’s January-March quarter from October-December, mainly due to lower mill processing rates and maintenance at some of its works, according to the company’s Q1 production report released on May 8.
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UC Rusal of Russia (Rusal), one the world’s top aluminum producers and headquartered in Moscow, produced 928,000 tonnes of primary aluminum during the first quarter of 2019, lower by 1.6% compared with October-December and by 0.3% on year, according to the smelter’s latest Q1 report published on April 30. The company expected the global aluminum market to remain weak this quarter.
