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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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Indian gold investors are eyeing the Reserve Bank of India’s latest tranche of sovereign gold bond offering as an entry point for making fresh purchases in the precious metal, which has pulled back a bit after hitting a record high in the first week of this month.
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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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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
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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.
-
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
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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.
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In a move seen as boosting trading activity and delivery volumes, the Shanghai Futures Exchange (SHFE) intends to temporarily waive physical delivery fees on all its listed commodities beginning April 10 until January 8 next year, according to a SHFE notice on March 17.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China Hongqiao Group, the country’s leading aluminum producer headquartered in East China’s Shandong province and listed in Hong Kong, has recently secured the financing for its second-phase alumina expansion in Indonesia to double the capacity to 2 million tonnes/year by the end of 2020, market sources confirmed on Friday.
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Production Summary
Note: South32’s financial year runs
from July to June.
Unless otherwise
noted: percentage variance relates to performance during the half year ended
December 2019 compared with the half year ended December 2018 (HoH) or the
December 2019 quarter compared with the September 2019 quarter (QoQ);
production and sales volumes are reported on an attributable basis.
Source:
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Zijin Mining, one of China’s biggest gold producers, announced on November 4 that it had entered into a share purchase agreement with Freeport-McMoRan (Freeport) to buy the latter’s copper-gold assets in Serbia. With the completion of the acquisition, Zijin will own essentially 100% of both zones of the Timok copper-gold mine.
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Sales of new-energy vehicles (NEVs) in China continue to show signs of stalling, given a series of negative factors including the prevailing softening economy, the county’s cooling automotive sector generally, and the reduction in subsidies for NEV purchases since late June, market sources said.
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Domestic production and sales of new-energy vehicles (NEVs) across China are showing signs of weakness, largely as a consequence of the central government’s move to reduce generous subsidies on NEVs that over the past few years had helped automakers to enjoy substantial growths in electric car sales.
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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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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.
