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The most traded nickel contract on the Shanghai Futures Exchange - that for September - surged by Yuan 1,350/tonne ($205/t) on Thursday from Wednesday's settlement price, closing at Yuan 116,220/t as of June 28.
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A three-year work plan to fight atmospheric pollution unveiled by China's State Council in a meeting Wednesday could have wide-ranging implications for the country's steel industry in the tougher measures promised to prevent the installation of new capacity in existing steel-producing and steel-consuming regions.
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China's output of primary aluminum in May reached 2.79 million tonnes, up but by just 0.7% on month or 1.5% on year, according to the latest statistics released by the National Bureau of Statistics (NBS) on June 14.
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Baoshan Iron & Steel (Baoshan Steel), China's largest flat steelmaker headquartered in Shanghai, is adding Yuan 1,000/tonne ($156/t) to the list prices of its stainless plate for July sales from its Baoshan and Dongshan bases, largely to offset its higher input costs, according to the steel company's latest pricing policy tabled Monday.
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The most active lead contract on the Shanghai Futures Exchange (SHFE) jumped to an 8-month high of Yuan 20,675/tonne ($3,230/tonne) at the close of trading on Wednesday's morning session. Behind the spike were supply concerns as smelters come under the scrutiny of the environmental protection inspections currently underway across the country, market sources explained on June 6.
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Aluminum Corporation of China (Chalco), the state-own aluminum producer, has inked an agreement with the government of South China's Yunnan province to join a strategic restructuring plan which could see Beijing-headquartered Chalco become an even larger force in global aluminum.
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China mulls differentiating curbing measures among Chinese steel mills during the 2018 winter months depending on their individual waste emission situation, Wang Libin, President of Shijiazhuang Municipal Research Academy of Environmental Science, shared at a panel discussion at the Singapore Iron Ore Forum on May 24.
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India's high court has ordered multinational metals and mining company Vedanta Resources to cease all activity at its Indian copper operation, namely Tuticorin Copper Smelter plant II, over environmental protection issues, according to a company update on May 23.
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China imported 130,000 tonnes of aluminum scrap in April, down 28% on month and off 23% on year, according to the latest data from the General Administration of Customs released on May 23. The April result took the total for the first four months of this year to 620,000 tonnes, a decline of 11% from last year.
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Chinese output of primary aluminum in April reached 2.77 million tonnes, inching up by just 1% on year, according to the latest detailed data released by the National Bureau of Statistics on May 15. Aluminum is the most important by volume of China's ten major nonferrous metals so its mediocre performance in April kept production growth of all ten including copper, lead, zinc and nickel to just 3% on year at 4.54 million tonnes.
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The world largest aluminum producers Rio Tinto and Alcoa Corporation are introducing what they claim to be a "revolutionary" process for smelting primary aluminum which produces oxygen and replaces greenhouse gas emissions, according to an announcement from Rio Tinto on Thursday.
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China will totally ban the imports of 16 waste solid materials for steel, nonferrous metals and plastics recycling starting December 31 and December 31 2019 respectively, according to the latest release from the newly-formed Ministry of Ecology and Environment on April 19.
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China's capacity utilization rate across heavy industrial sectors increased 0.7 percentage point year on year to 76.5% for the first quarter of 2018, according to the latest data from the country's National Bureau of Statistics.
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China's reaction to the US tariffs measures announcement has been guarded and so far, limited, but the Chinese authorities are 'looking at all options' including the possibility of reducing the purchase of US treasuries. The U.S. debt to China was US$1.17 trillion as of January 2018. It accounts for 19% of the US$6.26 trillion in Treasury bills, notes, and bonds held by foreign countries vs 16% held by Japan.
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The US President Trump announced his intention to impose a 25% tariff on up to US$50bn on Chinese imports, affecting 1,300 products mostly in the technology sector. The new measures follow a so-called 301 investigation led by U.S. Trade Representative Robert Lighthizer into China's potentially unfair trade practices with the U.S.
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China's fixed asset investment (excluding rural households) increased by 7.9% during January-February, compared with the first two months of last year to Yuan 4.5 trillion ($708 billion), according to new National Bureau of Statistics (NBS) data released on March 14.
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China's copper industry should be alert to the supply-side reform in the sector too and watch out for any risks of disorderly and too rapid expansion in the domestic copper smelting and refining capacities, Ding Shiqi, vice general manager of Tongling Nonferrous Metals Group, pointed out when attending China's 2018 National People's Congress meeting in Beijing.
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New regulations governing China's imports of waste materials which took effect on January 1 are blamed for a plunge in the country's imports of scrap copper in January to a near two-year low.
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To accomplish the anti-pollution mission at the Beijing-Tianjin-Hebei area by 2020, China's Ministry of Environmental Protection (MEP) will introduce tighter waste emission control into the industries of steel, coking and nonferrous metals (excluding aluminium) at the "2+26" cities since March 1 2018, according to a People's Daily report on February 24.
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The year 2017 was fruitful for Aluminum Corporation of China (CHINALCO) with all its core businesses not only aluminum but also copper and rare earth posting profitmaking and the net profit surged over 10 times.
