China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
On January 18, Jiangxi Copper said that it has agreed with Freeport-McMoRan Copper & Gold, Inc. and another company on a 10% rise in treatment charges and refining charges (TC/RCs) of copper concentrates for 2013, at USD 70 per ton and USD 0.7 per pound, which represent a 10% rise compared to 2H 2012.
BHP Billiton plc. said that it is still in discussions with Jiangxi Copper about TC/RCs of copper concentrates for 2013 .
On January 18, Japan’s largest copper refinery Pan Pacific Copper said that it has reached deals with several miners on a 10% rise in TC/RCs of copper concentrates for 2013.
Source: China Securities Journal is a national, Beijing-based publication that covers China’s financial sector. The paper is affiliated with the Xinhua News Agency and is an official channel for regulatory filings and policy statements.
Source (Chinese): China Securities Journal via Brightwire News.
