Interfax China - Metals & Mining

Iron ore stockpiles decline at China's ports

Fri, 10 Feb 2012 10:50:22 GMT

Shanghai. February 10. INTERFAX-CHINA - Iron ore stockpiles at China's 30 major ports decreased 1.26 percent this week to reach 100.21 million tons on Feb. 10, including 10.55 million tons of Indian iron ore, down 3.12 percent, according to figures from Shanghai-based Mysteel Information.

Baosteel hikes March ex-works prices

Fri, 10 Feb 2012 09:59:46 GMT

Shanghai. February 10. INTERFAX-CHINA - Baoshan Iron & Steel Co. Ltd. (Baosteel), the listed unit of leading Chinese steelmaker Baosteel Group, has raised March ex-works prices for certain steel products by between RMB 50 ($7.94) and RMB 200 ($31.77) per ton, suggesting it sees the outlook for the industry brightening.

Copper imports down 19 pct in January

Fri, 10 Feb 2012 08:45:57 GMT

China's imports of unwrought and semi-finished copper declined 18.67 percent month-on-month to 413,946 tons in January, ending a seventh-month run of increases, according to preliminary Chinese customs data released Feb. 10.

Iron ore imports down 8 pct in January

Fri, 10 Feb 2012 05:15:49 GMT

Shanghai. February 10. INTERFAX-CHINA - China's iron ore imports declined 7.58 percent month-on-month in January due to difficult weather conditions in mining regions and record-high domestic stockpiles.

Xiangguang Copper acquires 10 pct stake in Spain's EMED Mining

Fri, 10 Feb 2012 05:12:18 GMT

Shanghai. February 10. INTERFAX-CHINA - Privately-owned smelter Xiangguang Copper Co. Ltd. has agreed to acquire a 10 percent stake in Spain's EMED Mining Co. Ltd. for $15 million, according to a Feb. 8 statement from China's Ministry of Commerce (MOFCOM).

Daye Nonferrous to develop Hubei Province titanium deposit

Thu, 09 Feb 2012 10:35:42 GMT

Shanghai. February 9. INTERFAX-CHINA - State-owned Daye Nonferrous Metals Co. Ltd., a leading copper cathode producer in China, signed an agreement with the government of Zaoyang City in Hubei Province to develop the Dafushan titanium deposit, the company said in a statement Feb. 8.

Vietnam's iron ore tax hike hints at growing trend - CISA

Thu, 09 Feb 2012 08:35:04 GMT

Shanghai. February 9. INTERFAX-CHINA - Vietnam's decision to follow in the footsteps of India and raise taxes on iron ore exports could complicate China's efforts to diversify its sources of the steelmaking ingredient, Li Xinchuang, secretary general of the China Iron and Steel Association (CISA), told Interfax on Thursday.

China zinc industry faces gloomy H1 outlook

Wed, 08 Feb 2012 09:58:01 GMT

Shanghai. February 8. INTERFAX-CHINA - Analysts expect a poor performance from China's zinc smelters in 2011 and a difficult first half (H1) for the industry after two major players released disappointing preliminary earnings figures for 2011 last week.

Chinalco unit inks Aussie copper mine deal with Xstrata

Wed, 08 Feb 2012 09:30:52 GMT

Shanghai. February 8. INTERFAX-CHINA - Chinalco Yunnan Copper Resources Ltd. (Yunnan Copper Resources), the overseas investment unit of state-owned Aluminum Corp. of China (Chinalco), signed an agreement Tuesday to take a controlling interest in Xstrata Plc's Mount Frosty copper project in far northwest Queensland.

Shandong Province issues lending guidelines for steel industry

Tue, 07 Feb 2012 10:33:38 GMT

Shanghai. February 7. INTERFAX-CHINA - The People's Bank of China (PBOC) and the China Banking Regulatory Commission (CBRC) issued joint guidelines on Feb. 3 aimed at improving credit access for steelmakers and promoting industry restructuring in north China's Shandong Province.

Baosteel handed control of leading Guangdong steelmaker

Tue, 07 Feb 2012 08:58:29 GMT

Shanghai. February 7. INTERFAX-CHINA - Baoshan Iron & Steel Group (Baosteel) has entered Guangdong after being given a controlling interest in the province's largest steelmaker, Shaogang Songshan Co. Ltd. (Shaogang Songshan), as part of plans to consolidate the local steel industry.

China copper smelters face uncertain H1 outlook - analyst

Mon, 06 Feb 2012 10:03:44 GMT

Shanghai. February 6. INTERFAX-CHINA - Despite indications of a strong performance in 2011 and the recent recovery in copper cathode prices, China's copper smelters continue to face an uncertain outlook in the first half (H1) of 2012 as real consumption remains weak, analysts told Interfax Monday.

China shipbuilders in stormy waters as BDI hits 25-year low

Mon, 06 Feb 2012 09:25:56 GMT

Shanghai. February 6. INTERFAX-CHINA - The Baltic Dry Index (BDI) touched a 25-year low of 647 points on Feb. 3, while weak shipping demand and a seasonal boost in capacity last month added to the challenges facing China's shipbuilders.

Iron ore stockpiles rise at China's ports

Fri, 03 Feb 2012 10:52:41 GMT

Shanghai. February 3. INTERFAX-CHINA - Iron ore stockpiles at China's 30 major ports increased 3.13 percent this week to reach 101.49 million tons on Feb. 3, including 10.89 million tons of Indian iron ore, up 7.4 percent, according to figures from Shanghai-based Mysteel Information.

China steel market on road to recovery - analyst

Fri, 03 Feb 2012 10:37:46 GMT

Shanghai. February 3. INTERFAX-CHINA - China's steel industry is thought to be in recovery mode following the Chinese New Year holiday in January as liquidity problems ease, ending a five-month downturn, Umetal analyst Hu Yanping told Interfax Feb. 3.

China's ferrous sector will weather 2012 downturn - Sandy Chim, Century Iron Mines CEO & president

Kiki Kang — Fri, 03 Feb 2012 08:21:21 GMT

Shanghai. February 3. INTERFAX-CHINA - China's iron ore imports will remain firm despite its slowing economy, while the European debt crisis will have a limited impact on the country's steel industry, according to Sandy Chim, president, CEO and director of Century Iron Mines.

China cuts reliance on alumina imports in 2011

Fri, 03 Feb 2012 08:10:54 GMT

Shanghai. February 3. INTERFAX-CHINA - China ramped up domestic alumina output in 2011 and cut its reliance on imports, with inbound shipment dropping 56.39 percent year-on-year to 1.88 million tons according to statistics released Jan. 21 by the General Administration of Customs (GAC).

Nickel imports down in December on soft demand, high stockpiles

Fri, 03 Feb 2012 07:16:23 GMT

Shanghai. February 3. INTERFAX-CHINA - China's imports of nickel ore and concentrate declined 30.66 percent on monthly basis in December to 4.37 million tons amid soft domestic demand and high stockpiles, Antaike analyst Xu Aidong told Interfax Feb. 3.

Refined copper imports up 18 pct in December

Fri, 03 Feb 2012 03:33:33 GMT

Shanghai. February 3. INTERFAX-CHINA - China's refined copper imports continued to see strong growth in December, rising 18.32 percent month-on-month to 406,937 tons driven by arbitrage trades and demand for the metal as collateral for loans under Beijing's tight credit restrictions.

Australian iron ore imports up 12 pct in 2011

Thu, 02 Feb 2012 09:35:22 GMT

Shanghai. February 2. INTERFAX-CHINA - China's iron ore imports from Australia grew 11.81 percent year-on-year to total 297 million tons in 2011, offsetting a sharp drop in shipments from India due to local mining and export restrictions, according to data from the General Administration of Customs (GAC).

Steel product output rebounds 1.4 pct in December on price recovery

Thu, 02 Feb 2012 08:36:15 GMT

Shanghai. February 2. INTERFAX-CHINA - China's steel product output rebounded 1.38 percent month-on-month in December to 71.07 million tons as mills ramped up production after prices recovered from their September slump, Umetal analyst Hu Yanping told Interfax.

WTO upholds finding against China's mineral export restrictions

Wed, 01 Feb 2012 10:14:24 GMT

Shanghai. February 1. INTERFAX-CHINA - The World Trade Organization (WTO) on Jan. 30 ruled against China's export restrictions on a range of raw materials, adding to the likelihood that the country's controls on rare earths exports will come under scrutiny from the international body.

China gold output up 6 pct in 2011

Wed, 01 Feb 2012 08:24:06 GMT

Shanghai. February 1. INTERFAX-CHINA - China's gold bullion output grew by 5.89 percent in 2011 to reach a record high of 360.96 tons, up by 20.08 tons from the previous year, making the country the world's largest producer for the fifth year running, the China Gold Association (CGA) said Jan. 31.

China gains share of global steel output in December - WSA

Wed, 01 Feb 2012 04:47:02 GMT

Shanghai. February 1. INTERFAX-CHINA - China accounted for 44.56 percent of global crude steel production in December, up from 43.19 percent the previous month, according to figures released by the World Steel Association (WSA) Jan. 23.

Jien Nickel to acquire Canada's Goldbrook Ventures for $100 mln

Tue, 31 Jan 2012 10:55:35 GMT

Shanghai. January 31. INTERFAX-CHINA - Jilin Jien Nickel Industry Co. Ltd. (Jien) has agreed to acquire Canadian miner Goldbrook Ventures Inc. for a total consideration of CAD $100 million ($99.59 million), the Jilin Province-based firm announced Jan. 30.