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China`s oil reserves increase

Source: www.chinamining.org     Citation: Xinhua        Date: May 02, 2017

China`s national oil reserves rose to 33.25 million tons in mid-2016, official data showed Friday. 

The figure represented 4-percent growth from 32 million tons at the start of 2016, said a statement by the National Bureau of Statistics (NBS). 

The oil is at nine strategic storage bases and some corporate facilities, it added. 

China`s state strategic oil reserve program was launched in 2004 to offset supply risks and reduce the impact of fluctuating prices on the domestic market.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China steel, iron ore jump to near 1-mth highs on restocking demand

Source: www.chinamining.org     Citation: Reuters         Date: May 02, 2017

Chinese steel futures climbed to their highest in almost a month on Tuesday, supported by restocking demand following a long holiday weekend that also lifted raw material iron ore.

Chinese markets were shut on Monday for the Labor Day holiday along with other markets in Asia. 

It is still unclear whether the outlook for Chinese steel demand in May would be brighter than in April, said Helen Lau, analyst at Argonaut Securities in Hong Kong, when consumption turned out slower than many had expected. 

China`s factory sector lost momentum in April, with growth slowing to its weakest pace in seven months as domestic and export demand faltered, a private survey showed.

The most-active rebar on the Shanghai Futures Exchange was up 2.5 percent at 3,144 yuan($456) a tonne by 0223 GMT. The construction steel product initially rose to its highest since April 6 at 3,160 yuan.

Iron ore on the Dalian Commodity Exchange jumped as much as 5.8 percent to 539 yuan a tonne, its loftiest since April 7, and was last up 4.8 percent at 534 yuan. 

"After the holiday there`s a bit of restocking demand, that`s why you see steel prices come up quite substantially and it`s reflected in futures," said Lau. 

It still remains to be seen whether Chinese steel demand would pick up pace this month, with market participants also closely watching Beijing`s efforts to tighten financial leverage which may impact the ability of Chinese steel mills to access loans, said Lau. 

China must ward off systemic financial risks, and regulators must strengthen financial supervision and increase coordinated oversight of major financial institutions, Chinese President Xi Jinping said last week.  

But underlying steel demand appears to remain firm, with steel inventory among traders continuing to drop, she said. 

Stocks of five major steel products - including construction-used rebar - held by Chinese traders stood at 12.1 million tonnes as of April 28, down 6 percent from the previous week and the lowest since January, said Lau, citing data from Mysteel consultancy.

($1 = 6.8957 Chinese yuan)

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Chalco net profits soar in Q1

Source: www.chinamining.org     Citation: Xinhua       Date: April 27, 2017

Net profits of the Aluminum Corporation of China Limited (Chalco), China`s top aluminum producer, increased sharply in the first quarter.

The company made 920 million yuan ($130 million) net profit in the first three months, nearly four times the amount in the same period last year. Revenue approximately doubled, according to the company`s first quarter report released Tuesday.

"The profits are associated with the long-term promising outlook in the economy," an official of Chalco said, adding that improved management also boosted profits.

Chalco made a total profit of about 1.66 billion yuan last year, 11 times the 2015 level. The company posted a strong start this year with the first quarter profits making up more than half of the full-year figure of 2016.

Analysts attributed Chalco`s good performance to cost control and proper handling of "zombie enterprises".

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Over 100 firms joining Vietnam`s trade fair for construction, mining, transport

Source: www.chinamining.org     Citation: Xinhua       Date: April 26, 2017

Over 100 domestic and foreign firms are taking part in the ongoing International Trade Fair for Construction, Mining and Transport, Machinery, Equipment, Technology, Vehicles and Materials (Contech Vietnam 2017) in Vietnam`s capital Hanoi.

The three-day event which opened Tuesday is drawing participation of exhibitors from China, Germany, Japan, Spain, South Korea, Singapore, Thailand and Vietnam among others, reported local Vietnam News newspaper on Wednesday.

The fair provides a chance for participants to advertise their machines and technology, and seek new partners while fostering technical transfers, said Vietnam Building Material Association, the organizer.

On the sidelines of Contech Vietnam 2017, a total of three conferences covering technology in construction, building material, and the mining industry will also be held.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s CNOOC tenders 10 coal bed methane blocks

Source: www.chinamining.org     Citation: Reuters           Date: April 21, 2017

China National Offshore Oil Company, or CNOOC, issued a tender offering domestic and foreign companies to bid for 10 coal bed methane blocks in the country, the company said on Thursday.

The blocks have a total size of 2,173 square kilometers, including blocks in the Ningxia region in western China, Shanxi province in central China, and Shandong, Anhui province in the east, the company said in a statement.

Data room for the tender is open from April 30 to July 31, the company said.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Sinopec to further diversify its online industrial supply system

Source: www.chinamining.org     Citation: China Daily       Date: April 19, 2017

The online industrial product system epec.com has witnessed total transactions of 90.2 billion yuan ($13.1 billion) since its launch last April, a year-on-year increase of 526 percent, Asia`s largest refiner China Petroleum & Chemical Corp said on Tuesday. 

More than 1.58 million products are available at the platform from industries including coal, steel, petrochemicals and oil equipment, after one year`s operation, an increase of 532 percent year-on-year, with registered enterprises reaching 35,000, up 45 percent compared with the previous year, said the refiner, which is also known as Sinopec.

The online industrial product system, which the company aims to build into an industrial version of Taobao.com, the country`s largest online shopping marketplace owned by Alibaba, is part of Sinopec`s efforts to promote market-oriented transformation to further diversify its business and enhance profitability.

Alibaba provides services to Sinopec in terms of internet security, big data and technology upgrading.

Sinopec has also launched the international business platform global.epec.com, which aims to introduce China`s best products to the world and help connect trade chains worldwide.

"The construction and commercial operation of Epec coincides with the State`s full implementation of supply-side structural reform, which aims to push forward the growth pattern transition, structural adjustment and the innovative development of enterprises," Jiao Fangzheng, Sinopec`s deputy general manager, said at a news conference in Beijing.

"Epec will closely follow the Belt and Road Initiative to serve enterprises, projects, partners and global industries."

Steve Meszaros, GE vice-president responsible for the company`s supply chain in China, said as an Epec partner, GE plans to cooperate with Epec to support the creation of a fair trade environment within the Epec platform.

"We hope to expand our cooperation with Epec in the future, broadening our participation across other GE business sectors in China where we can demonstrate additional benefits to both GE and Sinopec for continued purchasing optimization and the ongoing development of the e-commerce business model," he said.

"We also hope that GE Industrial Solutions can leverage the Epec platform to promote our brand, our products and our technologies in Sinopec, in the oil and gas industry, and even in more B2B industries in China and overseas."

Wan Donghui, deputy secretary-general at China Electronic Commerce Association, said the industrial product system holds more opportunities and will serve as a bridge between the domestic market and the international market, explore opportunities and connect supply and demand.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s crude oil output falls 6.8% in first quarter

Source: www.chinamining.org     Citation: Xinhua           Date: April 18, 2017

China`s crude oil output fell 6.8 percent year on year in the first quarter of 2017 as refineries slashed production and imported more due to high exploitation costs, according to National Bureau of Statistics data Monday. 

Crude oil output came in at 48.02 million tons during the period. In March alone, crude oil output went down 4.6 percent to 16.58 million tons.

During the January-March period, China refined 138.22 million tons of crude, up 4.5 percent year on year.

In the first three months, natural gas output totaled 38.74 billion cubic meters, up 3.4 percent year on year.

China aims to increase domestic crude oil output to 200 million tons by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters.

Major tasks for the oil industry include accelerating exploration to ensure domestic oil supply, speeding up construction of pipeline networks and developing clean alternatives.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China Q1 iron ore imports up 12.2 pct y/y, copper down 19.9 pct - customs

Source: www.chinamining.org     Citation: Reuters      Date: April 17, 2017

China`s iron ore imports rose 12.2 percent in the first quarter of the year versus the same period a year earlier to 271 million tonnes, Chinese customs said on Thursday.

Copper imports in the period were down 19.9 percent on year at 1.15 million tonnes.

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 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.