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Chinese domestic aluminum prices are seen fluctuating in a narrow band this month but will basically remain firm as higher production costs are giving support for the light metal’s price, market sources said on September 7.
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China’s Ministry of Industry and Information Technology listed another seven domestic copper smelters on its website for public review over August 28-Sptember 28 before formally granting them the qualification certificates.
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Changzhou city in East China’s Jiangsu province is among the latest to join Beijing’s drive to improve air quality, with the city explicitly instructing 48 local steel mills to continue to cut their daily steel output beginning July 25 and lasting possibly until year’s end, an official from Changzhou City Environmental Protection Bureau confirmed on July 30.
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Copper prices in China are increasing at quick pace after continuously retreating for the most of July and are now catching up with the higher levels they reached a month ago, market watchers said Wednesday. The most-traded copper futures contract on Shanghai Futures Exchange, that for September, surged almost to the Yuan 50,000/tonne ($7,353/t) level on July 25, closing at Yuan 49,910/t, up by Yuan 710/t over the settlement price the previous day.
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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.
