China Top Stories

Copper price: Chinese concentrate imports hit monthly record

Smelter expansions have increased demand and competition for copper concentrate…

China’s iron ore futures fall as anti-smog measures weigh

The level 1 alert, the highest in China's four-tier pollution…

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Wedding season buying lifts gold, silver snaps losing streak in Indian Saturday trade

Indian traders on Saturday sent gold prices higher amid the Indian wedding season and firming overseas trends and silver snapped its three-day losing streak. On global markets on Friday Gold for August delivery added $9.70 to $1,542.40 an ounce after US economic data showed job growth slowed to a crawl in May. The weak dollar and the spectre of a return to recession in the US on top of a European debt crisis have buoyed the gold price this year and long term fundamentals – buying in India and China – remain strong. India remained the top purchaser of gold buying 291 tonnes in the first quarter while China added 93 tonnes of bars and coins from January to March, more than double the 2010 level and jewellery demand increased 21% from a year earlier to a record 143 tonnes.

SouthGobi Resources announces Soumber coal deposit officially registered with Government of Mongolia

SouthGobi Resources announced that it has been notified by the Mineral Resource Authority of Mongolia (MRAM) that the company's Soumber coal deposit has been officially registered. The registration process includes calculation of resources to Mongolian standards, review of the calculations by MRAM-appointed industry experts, and defense of the calculations before the Minerals Resource Committee. Mineral deposit registration is a prerequisite for applying for a Mining License.

Rio Tinto and Chinalco form exploration JV

Rio Tinto and Chinalco will be positioning their drills in Mainland China, the two companies announced today, in a new exploration joint venture to operate under the name Chinalco Rio Tinto Exploration Co. Ltd. (CRTX). According to a press release issued by Rio Tinto, the primary focus of CRTX will be copper exploration, with coal and potash to be considered later.

China setting the pace for iron ore

The world's biggest consumer of steel is ready to raise the stakes. Steel demand in China is expected to rise by around 25% by the year 2015, to a huge 750 million metric tonnes. To ensure an adequate supply position, China is set to create three iron ore mining groups, with an output capacity of 100 million tonnes each. Six other groups with a capacity of 30 million tonnes are to be cobbled together to ensure steady supplies. Iron ore is the principal raw material used to make steel.

China coal imports to double in 2015, India close behind

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.

Reuters: China interested in building nuclear plant in East Africa

Reuters reports: China wants to help build nuclear power generation in East Africa, uranium mining and investment company IBI Corp said in a statement after meeting Chinese officials in Beijing, revealing China's undimmed appetite for overseas nuclear expansion despite the Japanese nuclear crisis this year. IBI, which has uranium-prospective land in Uganda, said its director, A.J. Coffman, held an "encouraging meeting... with the relatively new umbrella organization overseeing China's research and development of Generation 3 and Generation 4 nuclear power plant designs."

Baosteel positive about getting approval for Zhanjiang project from government

China's Baoshan Iron & Steel Co Ltd expects to receive regulatory approval for its coastal Zhanjiang project this year, Chairman He Wenbo said on Tuesday, despite government resolve to extend a fight against overcapacity. "We will try to obtain approval this year, and are starting to build a raw materials dock," He, also president of parent Baosteel Group, told reporters on the sidelines of a company event.

Dramatic fall in China rare earths exports

China's rare earths exports in April were 53% down on a year earlier and 12.6% from the March figure, yet export value per tonne rose ten-fold, customs data showed on Monday. China, which controls about 97% of rare earth output, has angered customers in Japan, the United States and Europe by clamping down on production and sale of the 17 rare earth elements, citing a need to clean up highly polluting production processes and to stop illegal exports.

Reports: Chinese steel giant says iron ore market is in a ‘bubble’

"Everyone who has money is rushing to invest in iron ore," Baosteel Group chairman, Xu Lejiang said on Friday, warning that supply may outstrip demand “sooner than expected” pushing prices down in the process. Brazil’s Vale, and Australian heavyweights BHP and Rio Tinto have some $45bn slated for new mines. The cash price of 62%-iron ore shipped to China's Tianjin port has almost tripled from Nov. 21, 2008 when data became available, according to the Steel Index.