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Minerals and Metals Group (MMG), the Australian nonferrous metals subsidiary of China Minmetals Corporation (Minmetals), has disclosed that its copper output over January-March declined 10% on year while its zinc production rose 21% over the same period.
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Shandong Weiqiao Aluminum and Power Co, one of China’s major aluminum producers and based in East China’s Shandong province, has built new smelting facilities in Shandong with a total aluminum capacity of 542,000 tonnes/year, according to an announcement from the Shandong provincial government’s Department of Industry and Technology.
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China’s fixed asset investment in the domestic property market rose by 11.8% year on year to Yuan 2.38 trillion ($355.2 billion) over January-March, though the rate of growth was only 0.2 percentage point higher from that during January-February, according to the latest data from China’s National Bureau of Statistics published on April 17.
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For the FY2019 (July 1 2018-June 30 2019), BHP has kept its copper production guidance unchanged at 1.65 -1.74 million tonnes, though its copper output in the first nine months of FY19 fell by 3% on year to 1.25 million tonnes, according to the Melbourne-based company’s latest quarterly production report released on April 17.
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Chinese production of primary aluminum during this year’s first quarter reached 8.57 million tonnes, representing an increase of 3.9% on year, according to the latest data from the National Bureau of Statistics (NBS) released on April 17. For March only, aluminum output also picked up 3.4% on year to 2.88 million tonnes.
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China’s fixed asset investment (excluding rural households) increased 6.3% on year to Yuan 10.2 trillion ($1.5 trillion) over January-March, with the growth rate up 0.2 percentage point from that for January-February, according to the latest data from the country’s National Bureau of Statistics (NBS) on April 17.
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China’s gross domestic product (GDP) grew 6.4% on year to Yuan 21.3 trillion ($3.2 trillion) for the first quarter of 2019, kicking off the year with a positive and steady note, according to the latest release by the country’s National Bureau of Statistics (NBS) on April 17.
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China's fixed asset investment in the property market went up 11.8% on year to Yuan 2.38trillion ($355 billion) over January-March. A detailed report will be posted soon.
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China's GDP grew 6.4% on year in the first quarter of 2019, falling in its annual target at 6%-6.5% for the whole 2019. A detailed report will be posted.
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China's fixed asset investment in general grew 6.3% on year to Yuan 10.2 trillion ($1.5 trillion) for January-March. A detailed story will be posted soon.
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China’s total imports of copper concentrates and ores in the first quarter of 2019 reached nearly 5.6 million tonnes, up by 20% year on year, according to the latest data released by China’s General Administration of Customs on April 12.
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Steel mills and metal smelters are still welcome in China only if they meet the new requirements in energy consumption efficiency, technology, and eco-friendliness, according to the draft of “Guiding Catalogue for the Adjustment of Industrial Structure” that China’s National Development and Reform Commission (NDRC) released on April 8 for public review until May 7.
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China Smelters Purchase Team (CSPT) has settled treatment and refining charges (TC/RCs) for copper concentrates for the current quarter beginning April 1 at $73/t and 7.3 cents/lb respectively, lower than those for Q1 and the guideline levels agreed for the whole year of 2019, market sources confirmed.
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Yunnan Copper Co, based in Southwest China’s Yunnan province and one of China’s major copper producers, witnessed a significant decline in its performance last year, with its net profit tumbling by 46% on year to Yuan 124.8 million ($18.6 million), mainly due to weaker sales of copper cathode, its core product, according to the company’s latest annual report released on April 3.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry returned to the expansion zone in March, having rebounded 1.3 basis points on month to 50.5, and both the production and demand recovered, according to the release by China’s National Bureau of Statistics (NBS) on March 31.
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The Chinese government is using a little financial leverage to encourage makers of new-energy vehicles to lift the quality of what they sell. Steel market sources welcomed the policy adjustment saying it would definitely foster improvements in NEV design and manufacturing but admitted the flat steel market probably wouldn’t see any immediate benefit.
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A shrewd tweak of its business plan last year saw China Hongqiao Group, the country’s leading privately-owned integrated aluminum producer, double the share that sales of alumina enjoyed in its overall business, the Shandong-headquartered company’s latest annual report shows.
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China’s imports of copper scrap dropped by a significant 50.2% on year to 60,000 tonnes in February, according to new data released by China’s General Administration of Customs on March 23. The result took the country’s total copper scrap imports over January-February to 230,000 tonnes, representing a decline of 29.9% on year.
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Chinese zinc prices strengthened recently thanks to stronger demand and the decline in stocks, with the national average price for 99.995% zinc ingot increasing for a fifth successive week as of March 22, rising by another Yuan 81/tonne ($12/t) on week or Yuan 637/t on month to reach Yuan 22,724/t including the 16% VAT, Mysteel notes.
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A subsidiary of East China’s Shandong Nanshan Aluminum Co, a major producer and fabricator of primary aluminum, plans to invest Yuan 453.1 million ($67.7 million) in a new aluminum foil plant mainly targeting the battery and packaging industries, a company official confirmed Thursday.
