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Tom Daly

China Hongqiao to restart shuttered aluminium capacity in replacement plan

Apr 18 2019

* Replacement capacity includes 600 kA line shut in 2017 - sources

UPDATE 2-China March aluminium output drops to lowest daily rate since Oct

Apr 16 2019

* Daily production rate is lowest since October -Rtrs calculation

China starts review of anti-dumping measures on U.S. distillers grains

Apr 15 2019

BEIJING China's Ministry of Commerce confirmed it is starting a review on Monday of its anti-dumping tariffs on imports of distillers grains (DDGS) from the United States and said the investigation should be completed in a year.

Worried about nickel supply, China battery maker BYD welcomes JV discussions

Apr 11 2019

SHANGHAI Securing enough nickel is a major worry for electric vehicle firms, an executive from Chinese electric car and battery maker BYD Co Ltd said on Thursday, adding that the company would welcome joint ventures that help guarantee supply.

Nickel shortage in view unless China-led projects in Indonesia succeed: analysts

Apr 11 2019

SHANGHAI The global nickel market and its key growth sector, electric vehicle (EV) batteries, will face grave supply shortages unless key Chinese-led projects in Indonesia start up in a timely and cost-effective manner, analysts said on Thursday.

METALS-Copper rises on China stimulus hopes, trade talk progress

Apr 08 2019

BEIJING, April 8 London copper prices rose as much as 1 percent on Monday, snapping two days of declines, on expectations of more stimulus measures in top metals consumer China and optimism over Sino-U.S. trade talks.

China's Chalco leapfrogs Rusal as second-biggest listed aluminum producer

Mar 29 2019

BEIJING China's Chalco said on Friday it boosted annual aluminum output by 16 percent in 2018, putting it ahead of Russia's Rusal as the world's second-biggest publicly traded producer of the metal.

Chalco posts quarterly loss on low aluminium prices, 2018 profit slumps

Mar 28 2019

BEIJING Aluminum Corp of China Ltd, known as Chalco, posted its first quarterly loss in more than three years on Thursday and said annual net profits fell last year due to low aluminium prices and slack domestic demand.

UPDATE 1-China copper smelters lower Q2 TC/RC floor by more than 20 pct - sources

Mar 28 2019

* Q2 TC/RC floor set at $73 a tonne/7.3 cents a pound - sources

METALS-Most base metals steady in tight trade ahead of U.S.-China trade talks

Mar 28 2019

(Adds details, updates prices) By Tom Daly BEIJING, March 28 Most industrial metals prices held steady on Thursday as investors awaited news from U.S.-China trade talks restarting in Beijing, while supply disruption in copper offset fears of a recession in the United States. China and the United States have made progress in all areas under discussion in trade talks, with unprecedented movement on the touchy issue of forced technology transfers, but sticking points remain, U.S. officials told Reuters on Wednesday. "Concerns of weaker economic growth are likely to keep downward pressure on commodities for the time being," ANZ wrote in a note, adding that base metals were nonetheless being supported by supply-side issues and low inventories. Zinc stocks in London Metal Exchange warehouses fell by another 1,200 tonnes on Wednesday to just 55,225 tonnes, the lowest since 1991, while the "disruption to copper supplies from Las Bambas lingers," ANZ said, referring to the mine in Peru where MMG expects to declare force majeure. FUNDAMENTALS * COPPER: Three-month LME copper were up 0.2 percent to $6,345.5 a tonne as of 0714 GMT, while the most-traded May copper contract on the Shanghai Futures Exchange was almost unchanged at 48,360 yuan ($7,187.66) a tonne. * MMG LAS BAMBAS: Tension extended at Chinese miner MMG Ltd's Las Bambas mine in Peru as indigenous protesters on Wednesday hurled rocks at the helicopter of a government negotiating team who was sent to with finding a peaceful end to a 51-day road blockade that has choked off access to the mine. * ZINC SPREAD: The premium of cash LME zinc over the three-month contract rose to $56 a tonne on Wednesday, the highest since Jan. 7, as LME zinc stock decline further to 55,225 tonnes the lowest level since 2007, latest data showed. * PRICES: Shanghai zinc ended up 1.2 percent at 22,570 yuan a tonne, while London zinc dipped 0.1 percent. London nickel, aluminium and tin all fell. * TC/RCs: The 10-member China Smelters Purchase Team (CSPT) is meeting in Shanghai to determine floor treatment and refining charges (TC/RCs) for copper concentrate in the second quarter. * COPPER: CSPT member Jiangxi Copper Co, said on Wednesday 2018 net profit rose 52.4 percent year on year as a hedging gain boosted its bottom line. * SCRAP: China aims to cut solid waste imports to zero by next year as it looks to reduce pollution and encourage recyclers to treat soaring volumes of domestic trash, a senior environment ministry official said. * NICKEL: Indonesia's nickel-related industries such as the production of stainless steel and battery materials are set to surpass the value of its second-biggest export earner, palm oil, in the next 10 to 15 years, its investment board chief said on Wednesday. PRICES BASE METALS PRICES 0522 GMT Three month LME copper 6332 Most active ShFE copper 48400 Three month LME aluminium 1902 Most active ShFE aluminium 13680 Three month LME zinc 2880 Most active ShFE zinc 22540 Three month LME lead 2019.5 Most active ShFE lead 16780 Three month LME nickel 13010 Most active ShFE nickel 100680 Three month LME tin 21210 Most active ShFE tin 145780 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 -947.46 LME/SHFE ALUMINIUM LMESHFALc3 -1121.35 LME/SHFE ZINC LMESHFZNc3 -598.46 LME/SHFE LEAD LMESHFPBc3 540.24 LME/SHFE NICKEL LMESHFNIc3 -3224.48 ($1 = 6.7282 Chinese yuan renminbi) (Reporting by Tom Daly; Additional reporting by Mai Nguyen; editing by Richard Pullin, Subhranshu Sahu and Rashmi Aich)

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