News

China, EU looking for solution to steel disputes

Source: www.chinamining.org         Citation: Xinhua     Date: July 18, 2016

China and the European Union are looking for "an appropriate mechanism" to solve their steel trade disputes, the Ministry of Commerce said on Saturday.

The ministry confirmed reports that Chinese and EU leaders discussed steel trade, and the many European anti-dumping investigations into Chinese steel, during the 18th China-EU summit, held on Tuesday.

The EU has launched 15 anti-dumping investigations into Chinese exports since 2014, with eight of them related to steel products.

"Leaders from both sides have asked their departments in charge of foreign trade to enhance exchanges in the steel trade," according to a brief statement on the ministry`s website.

Ministry officials have said on many occasions that China, the world`s largest steel producer, has been wrongly blamed for the difficulties faced by the global steel industry. Actually, it is the anemic global economy and weak demand that are to blame.

The ministry maintains that frequent use of protectionist measures will not help end global steel overcapacity, but rather disrupts normal trade order.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China to resort to WTO over unreasonable US decision on steel subsidy

Source: www.chinamining.org         Citation: Xinhua     Date: July 15, 2016

China will use the World Trade Organization (WTO) dispute settlement process to defend its interests over an unreasonable decision by America on steel subsidies, the Ministry of Commerce (MOC) said Wednesday.

The United States had deliberately misinterpreted WTO rules after the US Commerce Department ruled in favor of anti-dumping measures for imports of stainless steel sheets from China, setting an anti-subsidy tax rate of 57.3 percent to 193.92 percent on Monday, according to a MOC statement.

The US demanded that the Chinese steel maker submit non-essential materials, such as CPC member ID and credentials, and imposed a high tax rate by deeming all raw material providers to be public institutions, the statement added.

The US also levied high taxes on Chinese stainless steel, cold rolled steel, corrosion-resistant steel plate and other goods recently, creating as a "man-made obstacle" and serving as an effective "rejection of Chinese steel products," the statement pointed out.

The Unite States` behavior is counter to a consensus reached by the commerce ministers of G20 members last weekend to avoid protectionism. Thus, China called on the US to behave in line with WTO rules and work for a fairer global trade environment, according to the statement.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Resources tax incentivizes `long-term benefits`

Source: www.chinamining.org         Citation: China Daily     Date: July 14, 2016

A new round of resources tax reform, starting from July, may lead to a heavier tax burden, but it will have long-lasting benefits to society and help ensure resource sustainability, experts said Tuesday.

The Ministry of Finance said that manufacturers of minerals such as iron and copper will be charged a resource tax on the basis of prices rather than volumes, after similar reforms were implemented in taxing coal, natural gas, crude oil and rare earths.

Natural resources, including water and forests, will be items to be taxed in the future. Hebei province will be the first pilot region to implement a taxation on water resources, the ministry said.

Although entrepreneurs were informed of the changes when the ministry posted a statement in early May, some said they are not yet fully prepared, especially companies in heavy industries that consume large amounts of resources.

Cui Kai, a manager of a thermal power plant in Shandong province, told the China Economic Herald earlier last month that a future tax on water resources will make it harder for the company to make profits.

"Surface and ground water, which are expected to be charged at least 0.4 yuan ($0.06) and 1.5 yuan per metric ton, respectively, may raise the cost of production by 5 million yuan each year," Cui said.

Hu Yijian, an economics professor at Shanghai University of Finance and Economics, said the long-awaited reform shows the government`s strong commitment to switching to a more sustainable and greener development model.

"A resources tax does not help much to increase the government`s revenue compared with other sources of income-the major consideration is to encourage high resource-consuming enterprises to upgrade their facilities," said Zhang Bin, a researcher at the Chinese Academy of Social Sciences.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China`s energy consumption to peak by 2035: report

Source: www.chinamining.org         Citation: Xinhua    Date: July 13, 2016

China`s energy consumption will peak at 3.75 billion tons of oil equivalent by around 2035, a research report forecast on Tuesday.

The country`s fossil fuel usage will peak by 2030 at 2.93 billion tons of oil equivalent, according to the report by China National Petroleum Corp. Economics & Technology Research Institute.

It said China will also see its energy mix become cleaner, with non-fossil fuels accounting for more than 30 percent of the energy mix by 2050, up from current 12 percent.

Although coal will remain the dominant energy source by 2050, its proportion in China`s primary energy mix may fall to 37 percent as the country uses more natural gas and non-fossil fuels, the report said.

Coal accounted for 64 percent of China`s primary energy consumption last year.

To cut carbon emissions and control air pollution, China has been trying to change its energy mix and increase the use of non-fossil fuels such as solar, wind, hydropower and nuclear energy.

According to a national plan released in 2014, the share of non-fossil fuels in the primary energy mix will rise to 15 percent by 2020.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Chinese govt discourages iron, steel exports amid lackluster demand

Source: www.chinamining.org     Citation: China Daily   Date: July 08, 2016

The Chinese government has been discouraging iron and steel exports in the midst of lackluster demand in the global market, the Ministry of Commerce said on Tuesday.

"China`s iron and steel output primarily meets domestic demand. The Chinese government has taken measures, such as increasing the export tariffs on some products, to control exports," said Shen Danyang, spokesman for the ministry.

Shen said the tax refund rate for iron and steel exports is lower than the 17 percent value-added tax rate. The percentage of exports, Shen added, is very low compared with total output.

In the first five months of the year, China`s exports of iron and steel increased by 6.4 percent year-on-year, stirring further concerns that the global supply will further outstrip the demand.

"In the first five months in 2015, iron and steel exports increased by 50 percent compared with the same period the previous year. The growth rate this year has fallen by around 22 percentage points," said Shen.

"This has shown that China has restrained its exports to maintain the stability of the world`s iron and steel market."

According to a report by zgw.com, an iron and steel trading platform, the export growth of Chinese iron and steel in 2016 will fall significantly. It does not rule out the possibility of negative growth.

On the other hand, as China`s exports of iron and steel enjoy the advantage of favorable prices and good quality, total export volumes will still be at a relatively high level, the report said. It is estimated that this year`s total exports will be no less than 80 million metric tons and will likely surpass 100 million metric tons.

Shen has said previously that the global economic slowdown was the main cause of iron and steel overcapacity. The Chinese government has been making efforts to keep the production capacity down.

The State Council has issued a plan to reduce crude steel output by 100 to 150 million metric tons within five years starting from 2016.

"At the moment, one of the biggest advantages of China`s iron and steel product in the global market is its high quality-price ratio," said Chen Jingfu, analyst at Shanghai-based Mysteel Research Institute.

"But in the future, it should stand out more in quality, service and brand building."

 According to Chen, China`s iron and steel industry has a priority of meeting domestic demand in the long term. China`s growth, which has become more innovation driven, needs large quantities of iron and steel with higher added value. High-tech and environmentally friendly products are going to be in huge demand, Chen 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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

Premier promises steel, coal capacity cuts

Source: www.chinamining.org         Citation: Xinhua    Date: June 27, 2016

China will cut excess capacity in steel and coal as part of its economic structural reform, Premier Li Keqiang vowed as he addressed the opening of the Annual Meeting of the New Champions 2016, or Summer Davos, in Tianjin on Monday.

The government will continue to focus especially on supply-side structural reform by reducing supply of inefficient and low-end products and services while encouraging more in-demand and premium ones, a process that will boost economic growth, Li told delegates at the forum.

An important part of the supply-side reform is cutting excess capacity in sectors including steel and coal, and this will be further pushed mainly "with a market-oriented and law-abiding approach," he said.

According to the premier, governments and enterprises will take measures to reemploy steel workers and coal miners made redundant.

"Overcapacity is a global challenge and China stands ready to be a responsible country with all these proactive measures," he said.

The government will reform on its own services to cut red tape and regulate emerging sectors or business models, Li said.

He also promised that China will make adjustments in fiscal, financial and investment areas to guide support towards the real economy, deepen reforms in state-owned enterprises and give private firms more access to the 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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China driving force of LatAm`s mineral industry

Source: www.chinamining.org    Citation: Xinhua   Date: June 17, 2016

China has been the driving force behind the rapid growth and industrialization of Latin America`s mineral industry in recent years, according to a report released by the Economic Commission for Latin America and the Caribbean (ECLAC).

In 2015 about 20 percent of the region`s total mineral output went to China, up from only two percent in 2000, the report said Wednesday.

China has replaced Japan, South Korea and Germany as a major mineral export destination for Latin America, it said.

However, as China now shifts from a world factory to an economy based on domestic consumption and services, the country is lowering its demand for Latin America`s unrefined minerals, the report warned.

Chinese companies are increasing their production of minerals and also investing more in refining metals.

In 2014, Latin American countries produced 44 percent of the world`s unrefined copper and under 20 percent of refined copper, while China produced 9 percent of unrefined copper and 35 percent of global refined copper, the report said.

"China is always moving forward and it is extremely important for our region to do the same," said Alicia Barcena, executive secretary of ECLAC.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.

China to boost metals stockpiles as part of reform

Source: www.chinamining.org        Citation: Bloomberg    Date: June 16, 2016

China plans to increase its stockpiles of base metals, via both state and commercial reserves, as it seeks to balance supply and demand amid a commodities glut, according to two people with knowledge of the matter.  

The plan includes studying a trial programme for companies to build reserves separate to their inventories, the people said, declining to be named because the information is confidential.  

China already holds stockpiles of metals though the State Reserve Bureau. The people didn`t give a timeline on when any new initiatives might be implemented or how they would be financed.  

Commodity prices have collapsed since 2011 as mounting supply meets lacklustre demand in China, the world`s top consumer, which is facing its slowest growth in decades.  

Other measures under consideration include accelerating reforms that would cut taxes for domestic miners, and adjusting trade policies to support exports of refined metals derived from imported ore, like copper and tin, the people said.  

Calls to Li Pumin, Beijing-based spokesman at the National Development and Reform Commission, the country`s top economic planner, seeking comment on the measures went unanswered.  

The plan reiterates the broader goals of China`s so-called supply-side reforms, including limits on new industrial capacity and stepping up the closure of excess capacity. 

China`s fading infrastructure boom has left it saddled with too much capacity after decades of rapid growth. The nation`s steel industry, in particular, has drawn fire from competitors for exporting its surplus too cheaply, stoking trade tensions and hammering profits globally.

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 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22^nd -25^th, 2016. We invite you to join the event and to celebrate the 18^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.