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There is a growing sense of restlessness in China’s copper scrap market following the recent surge in primary copper prices, leaving players mixed on what direction the market might take in the short term.
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China’s alumina imports shrank to a three-month low of 270,000 tonnes in November, according to preliminary data from China’s General Administration of Customs, as aluminum smelters were forced to cut production as part of efforts to meet national emission targets.
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Traders will be able to use copper in specified bonded warehouses in China, where material can be stored duty free, to settle positions on the Shanghai Futures Exchange (SHFE), China’s Ministry of Finance said.
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China is increasing investment in mining exploration at a “tremendous” rate, Magnus Ericsson, co-founder and senior partner of Raw Materials Group (RMG), said at the Mines and Money conference in London.
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China’s ferrochrome market could develop benchmark pricing along the lines of the European quarterly charge chrome price, especially if consolidation and restructuring create more big producers, according to Xstrata Plc’s Hansen Luo.
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China’s exports of stainless flat strip and coil fell in October despite a boost in shipments to Taiwan and South Korea as demand in the wider market softened.
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Demand for aluminum alloys is on course to reach 22.6 million tonnes by 2020, the head of a consultancy group in India told delegates Wednesday at Metal Bulletin’s 18th International Recycled Aluminium Conference in Poland.
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Steel rebar futures fell Wednesday amid heightened concern over the Chinese central government’s tightening measures, although spot iron ore held steady.
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China will sell another 117,000 tonnes of aluminum from state reserves next week as the government tries to ease tight supply and cap price inflation.
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Annual maintenance work by Baosteel Stainless Steel Material Co. Ltd. in December could reduce the company’s production by as much as 20 percent and give extra support to the market.
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China’s crude steel output averaged 1.59 million tonnes per day in October, down 2 percent from the previous month, according to estimates by the China Iron and Steel Association (Cisa).
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Chinese market participants are skeptical of a reported increase in third-quarter crude stainless data, which according to the Stainless Steel Council of China Special Steel Enterprise Association (CSSC) rose 5.82 percent to 2.84 million tonnes compared with the previous quarter.
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China’s crude steel output will remain low in the fourth quarter, the China Iron and Steel Association (Cisa) forecast, estimating a daily average of 1.63 million tonnes in the first 10 days of October.
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China’s crude steel output will remain low in the fourth quarter, the China Iron and Steel Association (Cisa) forecast, estimating a daily average of 1.63 million tonnes in the first 10 days of October.
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Several state-owned tungsten miners plan to start annual maintenance work soon as winter approaches, having met their sales targets.
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Several state-owned tungsten miners plan to start annual maintenance work soon as winter approaches, having met their sales targets.
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Chinese steel prices sagged Wednesday as markets were rattled by the government raising interest rates for the first time in nearly two years.
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Chinese steel prices sagged Wednesday as markets were rattled by the government raising interest rates for the first time in nearly two years.
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China’s spot iron ore import tags rose 4 percent in the past week despite a new round of steel output cuts that broke a three-week price rally, with steel prices following a similar path.
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China’s spot iron ore import tags rose 4 percent in the past week despite a new round of steel output cuts that broke a three-week price rally, with steel prices following a similar path.
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China’s oversupplied magnesium industry is set to nearly quadruple capacity in the next five years, according to Wu Xiuming, magnesium division head at the China Non-Ferrous Metals Industry Association (CNIA).
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China’s oversupplied magnesium industry is set to nearly quadruple capacity in the next five years, according to Wu Xiuming, magnesium division head at the China Non-Ferrous Metals Industry Association (CNIA).
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China’s copper and aluminum imports both fell last month after arbitrage faded, according to preliminary Chinese Customs data.
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China’s copper and aluminum imports both fell last month after arbitrage faded, according to preliminary Chinese Customs data.