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Yunnan Chihong Zinc & Germanium Co (Chihong), China’s largest zinc and lead producer headquartered in Southwest China’s Yunnan province, saw its output of refined metal products, mainly zinc and lead ingots, surge by 14.5% on year to 269,500 tonnes in the first half of this year, Mysteel Global learned on September 4. The smelter says its operations were largely unaffected by the COVID-19 outbreak.
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China’s major copper producers witnessed negative net-profit growth during this year’s January-June half, mainly due to the significant drop in copper prices over the period – despite the recovery from late March – and to the lingering low levels of treatment and refining charges (TC/RCs), Mysteel Global noted.
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Metallurgical Corporation of China Ltd (MCC), China’s top metallurgical engineering and construction company, posted a 13.8% on-year gain in net profit and a 13.6% on-year rise in business revenue in the first half of 2020, according to its interim report released on August 29, which mainly benefited from Chinese steel mills’ relocation and upgrading, the country’s lift in infrastructure investment, especially after the virus outbreak, and property projects.
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The Aluminum Corporation of China Ltd (Chalco), China’s leading aluminum producer with the most comprehensive product chain, posted a nearly 95% on year decline in net profit in the first half of 2020 to Yuan 35 million ($5.1 million), mainly because of price slumps in both alumina and aluminum, two of its core products, according to its interim report released on August 28.
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Huludao Zinc Industry Co (Huludao Zinc), China’s leading zinc and lead producer in Huludao city, Northeast China’s Liaoning province, saw its non-ferrous metal production mainly being zinc and lead grew 3.1% on year to 158,000 tonnes in the first half of this year, according to the company’s interim report on August 26.
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The Mines Ministry has invited comments from the public on a series of structural reforms it proposes under Atmanirbhar Bharat to enhance private investments and generates employment in the mineral sector.
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Tsingshan Holding Group (Tsingshan), China’s largest stainless producer headquartered in East China’s Zhejiang province, is raising its list prices of 300-series hot-rolled and cold-rolled stainless coils by Yuan 1,500/tonne ($217/t) for sales in September to reflect the growth in its raw material costs, according to Mysteel survey.
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China Baowu Steel Group (Baowu), the country’s largest steelmaker by installed capacity, saw its first primary aluminum ingot emerge from its own aluminum production line on July 30, marking the steel giant’s first foray into aluminium smelting and making further progress in the group’s production of metals suitable for use in auto manufacturing.
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Note:
South32’s
financial year runs from July to June.
Unless otherwise
noted, percentage variance relates to performance during the financial year
ended June 2020 compared with the financial year ended June 2019 (YoY) or the
June 2020 quarter compared with the March 2020 quarter (QoQ); production and
sales volumes are reported on an attributable basis.
Source: South32,
released on
-
Production summary*
*Rio Tinto share unless otherwise stated
Source: Rio Tinto, released on July 17
-
Production Summary
(1) Volumes are reported as wet metric tonnes. Product is shipped with 8-9% moisture.
(2) Reflects export production from South Africa and attributable export production (33.3%) from Colombia.
(3) Reflects nickel production from the Nickel business unit only (excludes nickel production from the Platinum Group Metals business unit). Contained metal basis.
(4)
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The China Securities Regulatory Commission (CSRC), the country’s governing body of all futures exchanges, has granted its approval, allowing three commodity exchanges to launch options contracts for six industrial products over June-August for trading, according to its official post on June 12.
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China’s major zinc smelters have started scheduling maintenance stoppages this month in response to a shortage of zinc concentrate supplies, according to Mymetal, Mysteel’s data collection arm for non-ferrous products. Some smelters have already idled their furnaces.
-
Production Summary
(1)
Wet basis.
(2) Reflects export production from South Africa and attributable export production
(33.3%) from Colombia.
(3) Reflects nickel production from the Nickel business unit only
(excludes nickel production from the Platinum Group Metals business unit).
(4) Contained metal basis. Reflects copper production from the Copper
business unit only (excludes copper production
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BHP’s total copper output including concentrate and cathode remained largely unchanged, up 1% on year to 425,000 tonnes in metal over January-March, but it is reviewing the production guidance for the fiscal year 2020 (July 2019-June 2020) in consideration of the possible impact of the COVID-19, according to its latest quarterly report released on April 21.
-
Note:South32’s
financial year runs from July to June.
Unless otherwise
noted: percentage variance relates to performance during the nine months ended
March 2020 compared with the nine months ended March 2019 (YoY) or the March
2020 quarter compared with the December 2019 quarter (QoQ); production and
sales volumes are reported on an attributable basis.
Source: South32,
released on
-
Production summary*
*Rio Tinto share unless otherwise stated
Source: Rio Tinto, released on April 17
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The fast spread of the COVID-19 in the past few weeks have forced some metallurgical mining companies to either slow down or to completely suspend their operations, as many countries where their mining sites are located have adopted the harsh measure of lockdowns to curtail the virus from infecting more citizens and to prevent their medical systems from collapses.
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Metallurgical Corporation of China Ltd (MCC), China’s largest construction and engineering service provider, saw its business model further diversifying from the traditional metallurgical projects in 2019, as the revenue from the sector decreased to 22.5% of the total from the 25.1% for 2018, according to the company’s latest annual report released on April 1.
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Glencore, a multinational energy and mineral producer, has been forced to join many other mining companies to idle its nonferrous and coal operations in several countries to cooperate with the respective countries’ efforts in containing the COVID-19, according to a company release on the afternoon of March 26 Central European Timezone.
