Interfax China - Metals & Mining

Daily steel product output hits record high in April

Wed, 16 May 2012 10:42:15 GMT

Shanghai. May 16. INTERFAX-CHINA - China's steel product output edged down on a monthly basis in April but daily production was at a record high on stronger steel prices and seasonal demand.

West Hope plans $2 bln aluminum project in Guiyang

Wed, 16 May 2012 08:04:35 GMT

Shanghai. May 16. INTERFAX-CHINA - West Hope Group has signed an agreement with authorities in Guizhou Province's Qingzhen County to build a RMB 13.5 billion ($2.14 billion) aluminum base with integrated power facilities, a representative of the Sichuan-based firm told Interfax on Wednesday.

CNMC eyes HK listing for African copper assets

Tue, 15 May 2012 10:12:39 GMT

Shanghai. May 15. INTERFAX-CHINA - State-owned China Nonferrous Metal Mining (Group) Co. Ltd. (CNMC) is aiming to raise $300 million in an initial public offering (IPO) of its Zambian copper assets on the Hong Kong Stock Exchange, a company executive told Interfax Tuesday.

Copper output down 4 pct in April

Tue, 15 May 2012 10:07:09 GMT

Shanghai. May 15. INTERFAX-CHINA - China's copper output declined in April, edging down from the second-highest volume on record in March, amid tight raw material supplies, soft demand and a gloomy price forecast.

Zhejiang Hailiang to invest $40 mln in Congo copper project

Mon, 14 May 2012 10:38:08 GMT

Shanghai. May 14. INTERFAX-CHINA - Chinese copper processor Zhejiang Hailiang Co. Ltd. has signed a framework agreement to invest $40 million in exploring a copper deposit in central Africa's Democratic Republic of the Congo (DRC) in a bid to reduce its exposure to fluctuating prices for the red metal, the Shenzhen Stock Exchange-listed firm announced May 14.

Daily steel output hits record in April

Mon, 14 May 2012 09:59:28 GMT

Shanghai. May 14. INTERFAX-CHINA - China's daily crude steel production hit a record high in April on higher steel prices and seasonal demand, though consumption is likely to weaken this month after prices started dropping and as the summer weather arrives.

Iron ore stockpiles decrease at China's ports

Fri, 11 May 2012 11:10:21 GMT

Shanghai. May 11. INTERFAX-CHINA - Iron ore stockpiles at China's 30 major ports edged down 0.06 percent this week to 97.07 million tons on Friday as steelmakers held back on new purchases amid sliding steel prices, show data from Shanghai-based Mysteel Information.

Copper imports decline 19 pct in April

Fri, 11 May 2012 07:32:31 GMT

Shanghai. May 11. INTERFAX-CHINA - China's copper imports declined for a second consecutive month in April amid weak end-demand and stricter controls on the use of the metal as collateral for loans, along with a narrower arbitrage window between London and Shanghai.

April iron ore imports edge down amid higher prices - GAC

Thu, 10 May 2012 10:35:43 GMT

Shanghai. May 10. INTERFAX-CHINA - China's iron ore imports continued declining in April, falling 8.24 percent on a monthly basis to 57.69 million tons amid higher prices for the steelmaking ingredient, show customs data released Thursday.

China gold output up 10 pct in Q1

Thu, 10 May 2012 10:26:01 GMT

Shanghai. May 10. INTERFAX-CHINA - China's gold bullion output saw double-digit growth in the first quarter (Q1) of 2012 in response to heightened demand from investors, Antaike Information analyst Shi Heqing told Interfax.

HOROC to expand Beipiao City nickel capacity

Thu, 10 May 2012 06:28:03 GMT

Shanghai. May 10. INTERFAX-CHINA - Chaoyang Haotian Nonferrous Metal Co. Ltd. (Haotian Nonferrous) has signed an agreement with authorities in Liaoning Province's Beipiao City to invest RMB 2.50 billion ($396.22 million) in expanding refined nickel capacity, the firm's parent, Jilin HOROC Nonferrous Metal Group (HOROC), said Wednesday.

MIIT issues five-year industrial safety plan

Wed, 09 May 2012 11:15:36 GMT

Shanghai. May 9. INTERFAX-CHINA - China's Ministry of Industry and Information Technology (MIIT) on May 4 released a framework of its five-year plan for industrial safety in the period up to 2015 which focuses on reducing workplace accidents by shutting down outdated capacity and promoting industry consolidation.

Indonesia's export tax on bauxite to buffet aluminum prices

Tue, 08 May 2012 08:21:20 GMT

Shanghai. May 8. INTERFAX-CHINA - As China's main source of bauxite, Indonesia's introduction of a 20 percent export tax on the mineral is expected to have a minimal knock-on effect on aluminum prices, analysts told Interfax.

Shanxi issues coke industry consolidation plan

Mon, 07 May 2012 11:20:49 GMT

Shanghai. May 7. INTERFAX-CHINA - Shanxi Province's coke industry will undergo a transformation that will see the number of coke firms pared down from approximately 160 at present to 40 by 2015, according to a consolidation plan issued by the provincial government on May 4.

Japan moves to ensure rare earths supplies

Mon, 07 May 2012 10:24:30 GMT

Shanghai. May 7. INTERFAX-CHINA - Japan is stepping up efforts to find new sources of rare earths and setting up processing plants in China, the world's largest producer, to work around the country's tight export restrictions on the minerals.

Iron ore stockpiles inch up at China's ports

Fri, 04 May 2012 10:52:40 GMT

Shanghai. May 4. INTERFAX-CHINA - Iron ore stockpiles at China's 30 major ports inched up 0.02 percent this week to 97.13 million tons on Friday as Brazil's outbound shipments increased after bad weather conditions cleared, and India boosted exports in anticipation of its rainy season, show data from Shanghai-based Mysteel Information.

SHFE to launch silver futures

Fri, 04 May 2012 09:38:49 GMT

Shanghai. May 4. INTERFAX-CHINA - The Shanghai Futures Exchange (SHFE) said Thursday it will launch silver futures on May 10 after test trading started earlier this week.

Tax breaks for SMEs may benefit nonferrous processors

Fri, 04 May 2012 08:18:19 GMT

Shanghai. May 4. INTERFAX-CHINA - A raft of new policies designed to support small and micro-sized enterprises (SME) could benefit China's fragmented nonferrous processing sector, an analyst told Interfax Friday.

Minmetals extends tungsten supply deal with Sandvik

Thu, 03 May 2012 09:21:25 GMT

Shanghai. May 3. INTERFAX-CHINA - China Minmetals Corp. (Minmetals) has signed a contract with Sandvik AB to supply the Swedish tool and machinery manufacturer with 1500 tons of tungsten products worth $180 million in the period from 2013 to 2015, the state-owned metals trader announced April 28.

Baosteel predicts 80 pct profit growth in H1

Thu, 03 May 2012 08:17:49 GMT

Shanghai. May 3. INTERFAX-CHINA - Baoshan Iron & Steel Co. Ltd. (Baosteel), the listed arm of leading Chinese steelmaker Baosteel Group, expects profits to surge at least 80 percent year-on-year in the first half (H1) on the back of an upcoming corporate restructuring, the firm's general manager Ma Guoqiang said in an online results briefing Wednesday.

Hebei becomes China's largest steel exporter in Q1

Wed, 02 May 2012 11:51:29 GMT

Shanghai. May 2. INTERFAX-CHINA - Hebei became China's largest steel exporter in the first quarter (Q1) as improvements in industry structure helped the province increase output of value-added products, the provincial government said Sunday.

SHFE to cut trading fees from June 1

Wed, 02 May 2012 10:28:46 GMT

Shanghai. May 2. INTERFAX-CHINA - The Shanghai Futures Exchange (SHFE) said April 27 it will cut trading commissions by between 16.7 and 50 percent starting June 1 in a bid to stimulate the market and support liquidity.

Iron ore stockpiles increase at China's ports

Fri, 27 Apr 2012 10:43:03 GMT

Shanghai. April 27. INTERFAX-CHINA - Iron ore stockpiles at China's 30 major ports increased 0.49 percent this week to 97.11 million tons on Friday as steelmakers held back on purchases amid tight funding at the end of the month, lower steel prices and soft downstream demand, show data from Shanghai-based Mysteel Information.

Brazilian iron ore imports continue decline in March

Fri, 27 Apr 2012 09:30:30 GMT

Shanghai. April 27. INTERFAX-CHINA - China's iron ore imports from second-largest supplier Brazil saw a second double-digit decline in March as shipments from the South American country were diverted to feed increased steel production in Europe.

Zijin Mining profit drops 23 pct in Q1

Fri, 27 Apr 2012 08:17:24 GMT

Shanghai. April 27. INTERFAX-CHINA - Leading Chinese gold producer Zijin Mining Group Co. Ltd. (Zijin Mining) reported a 23.27 percent year-on-year drop in net profit in the first quarter (Q1) amid higher costs due to lower grade ore and a new copper project coming online.