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China`s iron ore imports from Australia rise 33.5% on year to 55.37 mil mt in Jul

Source: www.chinamining.org  Citation: Platts  Date: August 25, 2014

China imported 55.37 million mt of iron ore from Australia in July, up 33.5% year on year and 10% from June, data released Friday by the General Administration of Customs showed.
    
A trader source in Zhejiang said Australian miners like Fortescue Metals Group were selling more iron ore into China as they had ramped up their output and were giving deeper discounts to China buyers in July.
    
Australia`s Fortescue Metals Group reached a 155 million mt/year production capacity target in end March this year, Platts reported earlier.
    
"When FMG offered a 15% discount for their flagship 56.7% Fe Super Special Fines product for July, many Chinese buyers [took it up]," said the Zhejiang trader.
    
"Chinese end-users also preferred to use more Australian ores in their furnaces as they were already used to it and and that explained why there was an increase inflow of ore to China from Australia," he added.
    
Australia was the largest supplier of iron ore to China, accounting for 60% of total imports in June.
    
China`s imported a total of 82.52 million mt of iron ore in July, up 10.7% from 74.57 million mt in June.
    
Imports from Brazil, China`s second largest iron ore supplier, totaled 14.12 million mt in July, up 7.46% year-on-year and 14.15% month-on-month, the data showed.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China imported 55.37 million mt of iron ore from Australia in July, up 33.5% year on year and 10% from June, data released Friday by the General Administration of Customs showed.
    
A trader source in Zhejiang said Australian miners like Fortescue Metals Group were selling more iron ore into China as they had ramped up their output and were giving deeper discounts to China buyers in July.
    
Australia`s Fortescue Metals Group reached a 155 million mt/year production capacity target in end March this year, Platts reported earlier.
    
"When FMG offered a 15% discount for their flagship 56.7% Fe Super Special Fines product for July, many Chinese buyers [took it up]," said the Zhejiang trader.
    
"Chinese end-users also preferred to use more Australian ores in their furnaces as they were already used to it and and that explained why there was an increase inflow of ore to China from Australia," he added.
    
Australia was the largest supplier of iron ore to China, accounting for 60% of total imports in June.
    
China`s imported a total of 82.52 million mt of iron ore in July, up 10.7% from 74.57 million mt in June.
    
Imports from Brazil, China`s second largest iron ore supplier, totaled 14.12 million mt in July, up 7.46% year-on-year and 14.15% month-on-month, the data showed.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

Zinc demand higher than expected

Source: www.chinamining.org  Citation: Reuters  Date: August 22, 2014

China`s MMG Ltd, owner of the world`s third-biggest zinc mine, said the global deficit in the metal had increased faster than expected, spurred partly by demand growth in China to rust-proof steel for cars.
    
The global zinc market deficit expanded to 234,000 tons in the first six months of 2014, from a surplus of 28,000 tons in the same period last year, according to the International Lead and Zinc Study Group.
    
"Growth has been higher than expected," MMG Chief Executive Andrew Michelmore said on Thursday, referring to demand.
    
He said demand in China had picked up as companies sought galvanizing technology, following a push by the International Zinc Association to tout the benefits of coating steel with zinc to prevent rust.
    
"The reaction has been quite spectacular," said Michelmore, who is also chairman of the International Zinc Association. "That`s having a flow-on effect in the demand for zinc."
    
London Metal Exchange three-month zinc prices have climbed 14 percent this year to $2,352 a ton.
    
However, on the supply side, Michelmore said smelters had produced zinc flat out over the past few years to lower their unit costs amid a price slump, which beefed up stocks of the metal and has led to some softening in demand for zinc in concentrate.
    
"I think we`ll see that come back as the impact of the mines that have been shutting down really have an impact on the market," Michelmore said on a conference call after MMG reported its half-year results.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China`s coal output down 1.45% in Jan-Jul to 2.16 bln tons

Source: www.chinamining.org  Citation: China Knowledge  Date: August 22, 2014

China saw its coal output decrease 31.8 million tons or 1.45% year on year to 2.16 billion tons in the first seven months of this year, according to the latest statistics released by the China National Coal Association.
    
According to the statistics, the country`s coal sales decreased 32.17 million tons or 1.54% year on year to 2.05 billion tons in the seven-month period.
    
In the month of Jul 2014, the country`s coal output declined 1.63% year on year to 301 million tons, while its coal sales for the period dropped 1.84% year on year to 289 million tons.
    
From Jan to Jul, China`s coal consumption edged up 0.2% year on year to 2.31 billion tons including 1.17 billion tons consumed by electricity industry, up 0.4% year on year.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China to Fine Coal Miners Exceeding Output Limits as Prices Drop

Source: www.chinamining.org  Citation: Bloomberg  Date: August 22, 2014

China will fine coal miners as much as 2 million yuan ($325,200) if they exceed national production limits after prices fell to the lowest in almost seven years.
    
Miners in the world`s largest coal consumer that exceed their annual registered output quotas will be fined 500,000 yuan to 2 million yuan, the National Development and Reform Commission said in a statement on its website today. Those violating targets will face suspension. Coal miners aren`t allowed to let their monthly supply go over 110 percent of the average planned figure, said the country`s top economic planner.
    
The Chinese government is proposing production cuts after the country`s benchmark coal price fell 21 percent this year to a range of 470 yuan to 480 yuan a metric ton as of Aug. 17.
    
China Coal Energy, the second-largest producer, reduced its 2014 output target by 10 percent because of weak demand and low prices, Wu Jun, the president for sales, said on Aug. 18. Shenhua Group, the biggest producer, will cut supply by 50 million tons, the Economic Information Daily reported July 28.
    
"Overproduction has been spreading unchecked and thus disturbing market orders," the NDRC statement shows. Producers without a monthly output plan shouldn`t produce more than one-twelfth of their annual registered capacity, it 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China magnesium: Export offers track steady domestic prices

Source: www.chinamining.org  Citation: Platts  Date: August 22, 2014

Spot export offers for Chinese magnesium ingot on a FOB basis tracked steady domestic prices, while the overseas physical buying interest has remained lacking, industry sources said Thursday.
    
Most spot offers on a FOB basis were heard steady at $2,440-2,520/mt, unchanged from last week.
    
Industry sources generally agreed that most tradable offers were below $2,500/mt.
    
Platts kept its weekly magnesium ingot (minimum 99.8%) price assessment steady at $2,450-2,480/mt FOB China Thursday, unchanged from last week.
    
The Chinese magnesium diecast alloy price assessment was also maintained at $2,730-2,780/mt FOB China Thursday, unchanged from last week.
    
"The overseas export trade remains quiet. European buyers are still staying away from the market, while some Japanese traders are still on summer vacation. There`s no movement in the export offers," said a south China-based trader.
    
He added that he was keeping his offers steady around $2,470/mt, unchanged from last week.
    
"I am hearing offers as low as $2,440/mt in the market but I have not heard any done deal at this level," he said.
    
A north China-based producer, who shared similar view, said: "My export offers are still at $2,520/mt and the overseas demand is still lacking."
    
He added that Shanxi offers were generally higher than those from Shaanxi as Shanxi had higher production costs.
    
The northern Chinese producer said his domestic offers had remained steady at Yuan 14,400-14,500/mt ($2,341-2,357/mt), ex-plant in Shaanxi.
    
"My domestic trade is doing better than exports. I have seen a slight pickup in domestic buying inquiries. Domestic prices have been falling and appeared to be steady recently. Some end-users are making inquiries. However, I have not seen a significant increase in trade to lift prices yet," added the northwestern Chinese producer.
    
Domestic offer in Shanxi were heard around Yuan 14,900/mt ex-works, unchanged from last week.
    
Sources added that the slightly stronger yuan against the dollar seen recently had offset the impact on the persisting weakness in the overseas demand.
    
A stronger yuan would mean higher export offers in dollar, while weak demand dampened offers.
    
The dollar was trading at Yuan 6.1632 Thursday but had been at the Yuan 6.15 level for the previous week till Wednesday. Two weeks ago, the dollar was trading at the Yuan 6.16 level.
    
Meanwhile, production cuts continued among Chinese ferrosilicon producers but market participants said they did not have problems securing material due to slow demand.
    
Ferrosilicon is a feedstock for magnesium ingot production.
    
Chinese domestic ferrosilicon spot prices at Tianjin port were pegged at Yuan 6,200-6,300/mt Thursday, unchanged week on 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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China fuels world steel output to climb 1.7%

Source: www.chinamining.org  Citation: AFP  Date: August 22, 2014

GLOBAL steel production rose 1.7 percent in July over 12 months, driven mainly by growth in Chinese output, the World Steel Association said yesterday.
    
Steel is used in most industrial processes and is an important indicator of economic activity.
    
The latest data showed that steel output reached 136.8 million tons last month.
    
Production rose by 1.5 percent in China which accounts for half of all steel made worldwide.
    
Ukraine, which has seen several months of intense fighting between pro-Russian rebels and government troops in its restive eastern region, posted a net loss in production, down 11.7 percent to 2.5 million tons.
    
Most of the steel produced in Ukraine is made in the east of the country which is the focus of unrest by pro-Russia separatists.
    
Output by Russia rose by 8.1 percent to 6.2 million tons.
    
Production was stable in Japan at 9.3 million tons but grew 1.5 percent in South Korea to 68.3 million tons and India`s output grew 1.7 percent to 7 million tons.
    
Output fell 2 percent across the European Union to 13.3 million tons, although Germany`s production rose 1.5 percent to 3.4 million tons and France`s also increased 1.6 percent to 1.4 million tons.
    
Italy`s annual production fell 3.6 percent to 2 million tons.
    
The United States saw an increase in steel production, growing 2.3 percent to 7.6 million tons.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China`s Zijin Mining looks to purchase gold projects in Africa

Source: www.chinamining.org  Citation: www.mining-technology.com  Date: August 20, 2014

China`s largest gold miner Zijin Mining is planning to spend $1.3bn on buying further assets in Africa this year, to meet its production targets.

Zijin Mining CEO Wang Jianhua was quoted by Bloomberg as saying: "We are seeing some buying opportunities in Africa and are examining related infrastructure development and geopolitical risks there.

"What we are interested in buying are those on the world gold mining belt with big sizes."

The company is eyeing gold projects with more than 100t of metal reserves and copper projects containing more than one million tonnes of reserves.

"Zijinshan will undergo a transitory period towards copper mining, but the profitability of copper does not necessarily have to be less than that of gold."

Zijin Mining will also seek help from overseas firms to finance the acquisitions. The decision came after the comapny`s Zijinshan mine, which produces 32% of its total gold output, reported a 4.2% fall year-on-year in the first half of this year.

When compared to the 2012 first half results, the company`s output fell by 38%, due to the declining gold content in the ore from Zijinshan mine.

Jianhua was quoted by South China Morning Post as saying: "With this in mind, we will focus our effort in the second half on technological and internal management improvement, as well as developing new large-scale projects.

"In the next few years, Zijinshan will undergo a transitory period towards copper mining, but the profitability of copper does not necessarily have to be less than that of gold. The key is a good understanding of the resources."

Despite a fall in the production rate, the company has not changed its annual gold output target of 34t from its own mines and the annual copper output of 140,000t.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.

China aluminum: ADC12 spot offers slip on thin trade, weak buying

Source: www.chinamining.org  Citation: Platts  Date: August 20, 2014

Offers for Chinese domestic spot aluminum alloy ADC12 slipped Tuesday in thin trade with little physical buying interest during the current summer lull, industry sources said.
    
Platts lowered its weekly China domestic ADC12 price assessment to Yuan 15,000-15,500/mt ($2,442-2,524/mt) ex-works Tuesday, from Yuan 15,200-15,700/mt last week.
    
A southwest China-based producer, who heard most market indications around Yuan 15,000/mt, said: "The weather is hot in summer, forcing some diecasting plants to lower their production rates or to shut their operations to avoid high temperatures."
    
An east China-based producer, however, said: "The weather is not as hot as previous years. In fact, it is quite cool. Some diecasting plants who still have orders to fulfill will continue to operate during the summer."
    
The eastern China-based producer indicated his primary aluminum ingot-fed ADC12 at Yuan 15,800/mt.
    
"The scrap-fed ones are Yuan 300-500/mt lower [than my primary aluminum-fed ADC12]," this eastern Chinese producer added.
    
An east China-based diecaster, who bought a small tonnage around Yuan 15,000/mt from a trader, said the company would skip the summer break as it had to fulfill orders.
    
Another east China-based producer said it was quite usual for the domestic market to be quiet during the middle of the month as end-users would make their purchases at the start and the end of the month.
    
This second eastern Chinese producer lowered his domestic offers to Yuan 15,450/mt, down Yuan 50/mt from last week due to the lack of buying interest.
    
Sources said rangebound aluminum ingot prices had also dampened ADC12 offers.
    
Chinese domestic spot aluminum ingot was priced around Yuan 14,020/mt Tuesday, compared with Yuan 13,940/mt Monday and Yuan 14,000/mt last Tuesday, while September aluminum futures stood at Yuan 14,110/mt on the Shanghai Futures Exchange compared with Yuan 13,995/mt the previous day and Yuan 14,130/mt last week.
    
In Japan, the ADC12 spot import trade remained stalled due to the US dollar approaching Yen 103, from 102-102.50 a week ago, Japanese market sources said.
    
Platts kept its ADC12 export price assessment at $2,180-2,190/mt FOB China Tuesday, unchanged from last week as bids and offers were within the range.
    
Offers were at $2,210-2,250/mt CFR Japan, late November shipments. A Japanese consumer said his buy idea was around $2,210/mt CFR Japan. No deals were done, however, as buyers were waiting for the US dollar to fall back to Yen 102.
    
The demand outlook was positive, as Japanese automakers were expected to keep the current output level for the remainder of the year, said Japanese diecaster sources.
    
"The July-December vehicle output outlook of our customer is a 10-20% rise from April-June, but forecast start out bullish and is revised down gradually to compromise with the reality," said one Japanese diecaster source.
    
Chinese sellers were indicating export offers at similar level.
    
"The export trade to Japan is not very active due to the summer holidays among Japanese auto and diecasting plants," said a southwest China-based producer.
    
An east China-based producer said: "We have lowered our export offers to $2,215/mt CIF China, down $5/mt from last week as Japanese buying interest has been very thin due to the summer vacation and a weaker yen."
    
Meanwhile, despite rangebound primary aluminum ingot prices, Chinese sources said the supply of Zorba-grade aluminum scrap had remained tight, thereby keeping import offers above $1,800/mt CIF China. Chinese producers use import-grade aluminum scrap for exports.
    
On Monday, the LME official cash price for aluminum was $1,994-1,995/mt, compared with $1,979-1,980/mt last Friday and $2,030-2,032/mt last Monday.

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 2014 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20^th-23^rd, 2014. We invite you to join the event and to celebrate the 16^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2014, please visit: www.chinaminingtj.org.