en_矿业资讯

China`s aluminum import premiums rangebound at $90-$110/mt CFR

Source: www.chinamining.org   Citation: Platts   Date: June 18, 2015

Chinese import premiums for Good Western aluminum remained rangebound this week at $90-$110/mt CFR plus LME cash, amid a prevailing lack of import interest.

Offers CIF Shanghai and ex-bonded warehouse Shanghai were heard Wednesday at $120-$140/mt, but no trades were reported as buyers anticipated further falls in the near term.

"Everyone is waiting for the third quarter contract talks in Japan to settle, as talking levels are all around $100/mt and below now, so they expect premiums to fall further," a Shanghai-based trader said.

Another Shanghai-based trader said Japan spot premiums are also now trading below $100/mt, "so all signs are pointing downwards for Q3 as well...we might get clearer direction next week."

An east China consumer said Wednesday that even $80-$100/mt CIF China is now too high, as domestic metal prices are weak and the outlook dim.

"Maybe if premiums were at $30-$40/mt CIF China now, we could consider buying," the consumer said.

The LME official cash price closed at $1,660.50-$1,661.00/mt on Tuesday, down from $1,722.50-$1,723.00/mt a week ago.

At $1,661/mt, with the current $90-$110/mt premiums, and taking into consideration 17% VAT, the delivered price to China would equate to Yuan 12,802-12,947/mt ($2,093-$2,117).

On Wednesday, the Changjiang spot aluminum price was trading at Yuan 12,550-12,600/mt.

The front-month July aluminum contract on the Shanghai Futures Exchange closed at Yuan 12,635/mt, down from Yuan 12,785/mt last week.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s steel industry going into reverse as output slides

Source: www.chinamining.org   Citation: Bloomberg   Date: June 12, 2015

China`s steelmakers reduced output as prices slid to record lows on slowing property and infrastructure construction in the world`s biggest producer.

Crude steel production in May fell 1.7 percent from a year earlier to 69.95 million tons, according to data from the National Bureau of Statistics on Thursday. Output on a daily basis fell 1.8 percent from April.

The slide underscores weakening domestic demand as China seeks to shift away from investment-led growth to a consumption- driven economy, deepening a slowdown in construction. Production during the first five months of the year declined 1.6 percent.

"The second quarter has been even tougher than the first for the mills," said Daniel Kang, an analyst at JPMorgan Chase & Co. in Hong Kong. "Apparent consumption, when you exclude exports, has fallen more than 5 percent this year and this highlights that the economic transition to a new normal is affecting early-cycle commodities such as steel."

China`s total industrial output rose 6.1 percent while fixed-asset investment grew at a slower-than-estimated 11.4 percent, statistics bureau data showed. New property construction starts slid 16 percent in the first five months of the year.

About 70 percent of the country`s steel demand is related to property, infrastructure and machinery manufacturing, according to Helen Lau, an analyst at Argonaut Securities (Asia) Ltd.

Falling Prices

Prices of some steel products have fallen to a 12-year low, spurring Chinese producers to cut output to stem losses or sell at competitive prices overseas. China`s exports of steel products surged to a four-month high in May and are up 28 percent in the first five months of this year, customs data showed Monday.

The slowdown in China`s steel industry has coincided with a surge in supply of iron ore, pushing prices of the steelmaking raw material down as much as 34 percent this year. A rebound in the iron ore market from early April has taken the price to the highest since January 23, according to data from Metal Bulletin, squeezing profitability at China`s steel mills.

Spot prices of reinforcement bar, used in construction, fell 0.2 percent to 2,332 yuan a ton, the lowest since Beijing Antaike Information Development Co. began compiling data in 2003. Rebar for October on the Shanghai Futures Exchange rose 0.8 percent to close at 2,355 yuan a ton.

Steel mills in China face "massive losses" as prices decline while demand reaches its seasonal low during the summer months, according to a Bloomberg Intelligence report Wednesday.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s lower gas demand growth leaves NOCs facing oversupply: WoodMac

Source: www.chinamining.org   Citation: Platts   Date: June 11, 2015

China`s 2020-2030 gas demand is expected to be 13% lower than previously forecast, which will lead to an oversupplied market and weaker prices, consultancy Wood Mackenzie said in a report Wednesday.

The country`s gas is now expected to be about 360 Bcm in 2020 and 560 Bcm in 2030, down from previous forecasts of 420 Bcm and 640 Bcm, respectively, due to short-term and structural drivers, WoodMac said.

"Short-term drivers include low oil prices and high domestic gas prices, reversal of environmental policies, competition from coal and hydro and warmer winter weather," said Gavin Thompson, WoodMac`s principal gas consultant.

"Structural factors include the switch from industrial production to the service sector as a driver of economic growth."

Despite weakening demand growth, Central Asian volumes into China are continuing to rise.

"As a result, there is an oversupply of contracted LNG into the market, particularly during periods of low seasonal demand," Thompson said.

"We expect China will be over-contracted by about 18 Bcm from 2015 till 2017."

Chinese national oil companies are now pursuing numerous channels to reduce volumes, including efforts to renegotiate ramp-up schedules and pricing terms, and reselling volumes into the Pacific market where agreement can be reached with suppliers, WoodMac said.

Sinopec in particular, as the last of the state-owned buyers to enter the LNG arena, is exploring its options to resell volumes, as it struggles to bring its downstream infrastructure online fast enough to absorb contracted volumes of LNG.

Sinopec is widely reported to be offering up to 4 million mt/year of its existing 7.6 million/mt long-term contract with ConocoPhillips to other Asia-Pacific buyers and portfolio sellers, including BP.

The volumes will originate from the ConocoPhillips-operated Australian Pacific LNG facility in Queensland, which is scheduled to come on stream in September.

According to market sources, Sinopec has also not ruled out the possibility of trading APLNG volumes from 2016 onward, an option that is also being explored by fellow state-owned LNG buyers CNOOC and PetroChina where term contracts allow.

WoodMac believes the NOCs will have three levers to optimize supply and minimize losses.

First, they may restrict domestic investment in more expensive developments and defer investment until demand recovers.

PetroChina will also manage overall volumes of pipeline imports using take-or-pay provisions, with the potential for spot volumes above take-or-pay during periods of peak demand.

Third, the NOCs will maximize contracted LNG volumes to sell into the domestic market as term and spot prices look competitive against regulated city gate tariffs due to low oil prices.

"With strong growth in contracted LNG and low LNG prices, we continue to expect that some volumes of LNG will be re-sold back into the broader market," Thompson said.

Some of these sales will be seasonal, particularly LNG that might otherwise have supplied northern China during the warmer months. But even at times of higher demand it is unlikely that all contracted LNG will find a market in China, according to WoodMac.

An oil price recovery ought to stimulate Chinese gas demand and create more market space for LNG, but the timing of this is uncertain, the consultancy said.

"Given the uncertainties around the market outlook however, we believe that all options must remain on the table," Thompson added.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China becomes largest buyer of Brazilian oil: report

Source: www.chinamining.org   Citation: Xinhua   Date: June 10, 2015

Brazil`s oil exports to China increased threefold in the first five months of this year, making Beijing the largest consumer of Brazilian oil in the world, said daily Folha de Sao Paulo on Tuesday.

According to Folha, Brazil exported 5.4 million tons of oil to China from January to May, accounting for 35 percent of Brazil`s total oil exports in the same period. The amount of oil shipped to China is twice as much as that to the United States.

The rise in China`s purchase of Brazilian oil came at a time when Brazil`s state-controlled oil giant Petrobras tried to boost its relations with China. Petrobras signed some financing agreements with China during a recent visit to Brazil by Chinese Premier Li Keqiang.

China`s higher demand for oil also helped Brazil achieve record oil exports of 15 million tons from January to May, up 80 percent from the same period last year.

However, as oil prices have fallen significantly over the past months, the record sales did not generate corresponding high revenues.

With increased oil purchases, China has become the largest buyer of four major Brazilian products. The other three are soybeans, iron ore and cellulose.

China replaced the United States to become Brazil`s largest trade partner in 2009. The Sino-Brazilian trade value amounted to 86.67 billion U.S. dollars in 2014.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s imports of crude oil up 4% to 133.87 mln tons in Jan-May

Source: www.chinamining.org   Citation: China Knowledge   Date: June 09, 2015

China, the world`s second largest oil consumer after the U.S., imported 133.87 million tons of crude oil in the first five months of this year, 4.0% more than in the same period of last year, according to the latest figures from China`s General Administration of Customs.

According to the statistic, the import value of crude oil for the five-month period plunged 44.5% from a year earlier to RMB 342.48 billion.

In the first five months of 2015, the country saw its imports of refined oil reach 12.69 million tons, reflecting a decrease of 1.8% from the previous year.

The import value of refined oil in the same period shed 39.0% from the corresponding period of 2014 to RMB 38.7 billion.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

China`s coal imports down 38.2% in Jan-May to 83.26 mln tons

Source: www.chinamining.org   Citation: China Knowledge   Date: June 09, 2015

China saw its coal imports plunge 38.2% year on year to RMB 83.26 million tons in the first five months of this year, according to statistics released by the General Administration of Customs.

According to the statistics, the import value of coal plunged 50.7% year on year to RMB 32.65 billion in the five-month period.

From Jan to May, China exported 1.88 million tons of coal, plunged 32.2% year on year. The export value of coal slipped 42.8% to RMB 1.24 billion in the period.

In the month of May this year, the country`s coal imports amounted to 14.25 million tons, while the import value of coal reached RMB 5.21 billion.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Copper futures fall 3.1% on concerns about China demand

Source: www.chinamining.org   Citation: Global Times   Date: June 08, 2015

Shanghai copper futures fell Friday primarily due to investor concerns about lackluster demand in China, the world`s largest consumer of the metal.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE), for August delivery, finished at 42,810 yuan ($6,901) per ton Friday, down 680 yuan from Thursday. The August contract shed 3.1 percent for the week.

A total of 328,872 lots changed hands Friday, 88,380 more than on the previous trading day.

The benchmark three-month copper contract on the London Metal Exchange closed at $5,939 a ton Friday, compared with $5,920 a ton Thursday.

Metal markets were showing signs of weakness.

A pickup in the US dollar and renewed concerns over demand in China weighed on metal markets, according to a research note sent to the Global Time Friday from the ANZ Banking Group.

"Copper led the falls, with some heavy selling on the close after it breached some technical levels," the note said. "This was despite further positive economic news in Europe and the US. Investors are now looking for additional stimulus measures in China before getting bullish about metals consumption and thus prices."

Seasonal demand for copper in China is passing its peak as more factories in China are looking to ramp down production for the summer, Reuters reported Thursday. "For copper, like iron ore, expectations are that demand will slow through summer. We don`t see a major uplift from current levels," analyst Lachlan Shaw of UBS in Melbourne told Reuters.

However, some investors expect recovery in housing sales in China will help boost copper consumption later this year.

"We would anticipate that commodities exposed to house fit-out should do better, such as copper, in areas like wiring," Shaw said.

China`s housing market is a major source of copper demand. But investors remain concerned about the poor short-term outlook for copper consumption.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.

Zhaojin to spend US$299 million on newly acquired mine

Source: www.chinamining.org   Citation: www.shanghaidaily.com   Date: June 02, 2015

ZHAOJIN Mining Industry Co, one of China`s largest gold miners, plans to spend 1.85 billion yuan (US$298.9 million) in the coming three years to bring recently acquired Haiyu Gold Mine to production, South China Morning Post reported on Monday.

The mine, located in the north of Sanshan Island in Laizhou, Shandong Province is likely to be one of Chinese mainland`s largest and most profitable gold mine with nearly 470 tons of gold reserves, Weng Zhanbin, chairman of the Shandong province-based miner said on Monday.

The company said on Sunday to acquire 53 percent stake of Ruihai Mining Co for 2.7 billion, thus to hold the exploration right of the Haiyu Gold Mine in US$55.5 per ounce of resource.

The company has paid 1.2 billion yuan for the deal and will pay the rest by bond and bank loans, according to miner`s announcement.

"With the gold price trading at a relatively low level, the mine`s acquisition price is very favorable," Weng said.

The new acquisition will boost Zhaojin`s gold resources by 60 percent to 1,000 tons, according to the statement. And the deal is hopefully to lower the production cost per gram of gold to around 100 yuan from 140 yuan, said Fang Jisheng, the company`s chief financial officer.

A precious metal specialist at one of China¡¯s big banks, who declined to be identified, told Shanghai Daily that bullion price won`t see sign of resumption in at least 6 month, considering a relatively strong US economy.

The bullion price shed 6 percent to US$1,218.5 per ounce by the end of the first quarter. Thomson Reuters GFMS Commodities Research in its 2015 Gold Survey predicts an average annual gold price of US$1,170 per ounce.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2015. We invite you to join the event and to celebrate the 17^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.