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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.
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The lead and zinc mines in Xiangxi Tujia and Miao Autonomous prefecture in Huayuan county, Central China's Hunan province, have yet resumed their operations after nearly 17-month idling even though the local authority already gave the green light on January 11, market sources shared on January 23.
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China's lead and zinc prices are standing the chances for further increases in 2018 because of low inventories and moderate supply shortage, though the lead price rise will be less substantial than zinc due to the supplement from secondary lead, Chinese market sources predicted.
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China's Ministry of Information and Industry Technology (MIIT) has released guidelines on aluminum smelting capacity swap in the mergers and acquisition cases to guarantee the continuity of the supply-side reform and illegal and excess capacity removal in aluminum, according to a MIIT notice on January 17.
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Xinjiang Uygur Autonomous Region (Xinjiang) in Northwest China has been the latest region that has been openly criticized for its failure to eliminate outdated coal and aluminum capacities and to preserve the natural environment at the local mining sites, according to a recent post on the Ministry of Environmental Protection (MEP).
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SHFE copper price ended the year of 2017 on a high note with its most-traded February copper contract on the Shanghai Futures Exchange (SHFE) hitting a two-month high on December 29, closing at Yuan 55,420/tonne ($8,520/t), partly due to the market concern on copper supply with the recent speculated operation suspension at Jiangxi Copper, China's largest copper producer in southwest China's Jiangxi province, according to market sources.
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China's tightness in liquefied natural gas (LNG) supply has forced many domestic copper rod producers to further reduce their production, market sources shared on December 21.
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China's aluminum market is expected to be tightly balanced for this year with the output to reach 32.3 million tonnes, just matching the apparent consumption at 32.4 million tonnes, according to the figures shared by Yang Yunbo, deputy secretary general of China Non-Ferrous Metals Industry Association (CNFMIC) at Mysteel's annual event on December 17.
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China's consumption of domestically-produced bauxite contracted 2.51% on month to 8.15 million tonnes for November, amid restriction or suspensions of domestic alumina and aluminum smelters。
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Most of Chinese steel mills have been unaware of the details of the environmental protection tax starting on January 1 2018 and its possible impact on them either about operations or production costs, Mysteel understands from the market on Thursday.
