China Top Stories

Tug-of-war: China’s steel sector grapples short-term bulls, longer-term bears

China's steel sector is currently locked in a struggle between…

Zinc price builds on 2019 rally as stocks reach just 2 days consumption

Inventories are down 55% this year and are on course…

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100,000 tpy copper smelter planned for northwestern China

Shanghai-listed Western Mining Co Ltd said it plans to build a 100,000-tonne-per-year copper smelter in the northern western Chinese province of Qinghai, Reuters reported: The cost of the project was estimated at 2.28 billion yuan ($347 million), the company said in a statement on Friday, adding that it would seek a partner to build the smelter with the Western Mining holding a majority stake. "The project is going to add pressure to the local supply of copper concentrate," said senior copper analyst Yang Changhua at state-backed research firm Antaike.

Industry leader calls for consolidation of China’s rare earth industry

The head of China's largest metals trader has called for government efforts to consolidate the rare earth industry and nurture competitive domestic firms in the sector. Zhou Zhongshu, president of China Minmetals, said that the difficulties facing China's rare earth industry mainly come from the fact that local authorities, owners of rare earth mines, tend to issue mining licenses to local firms.