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Can the stimulus package rescue the nonferrous metals industry?

   

Whether the stimulus package can rescue the nonferrous metals industry
After Chinese government unveiling the RMB4 trillion economic stimulus package, Antaike on November 14 had a meeting again to discuss whether the stimulus package can rescue the nonferrous metals industry from the financial crisis. The officials and analysts of Chalco International Trade Co., Ltd, COFCO Futures Co., Ltd and other Chinese top futures brokerage companies are invited to attend the meeting.  More



Chinese copper producers slash outputs on weakening demand
Copper price has been declining dramatically since July this year. Many Chinese refined copper producers have already or decided to cut their output due to the weakening demand. According to Antaike's survey to several copper producers recently, the total market supply of copper might be reduced by 300kt in China in 2008.   More



Smelters appeal to government for building state reserve of aluminum ingots
Officials of Chinese large-sized aluminum smelters, China Nonferrous Metals Industry Association(CNIA) and other relevant government departments on October 28 gathered in Beijing and had a meeting to discuss how to rescue the domestic aluminum industry that is suffering big loss due to the recent slump of aluminum price. One of the major solutions is that the smelters hope the government to establish state reserve of aluminum ingots.  More



SHFE sees its first gold futures contract Au0806 delivered
Delivery of Au0806 contract was soundly completed at the Shanghai Futures Exchange(SHFE)on June 16, the last trading day for the contract, and the delivery process lasted a week from June 17 to June 23, according to the sources from SHFE.   More



Lower production cost cannot hold back the falling nickel price
Global economy slows down recently due to the subprime mortgage crisis. Affected by this, the prices of raw materials for nickel production, such as oil, sulfuric acid and coke, fell down largely. However, lower production costs cannot hold back the falling price on the sluggish nickel market.  More



·Chinese official:Free trade deal beneficial to...11-21
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·China Minmetals signs finance pact for Galeno ...11-21
·Codelco's refined copper premium for China exp...11-21
·Canada gives initial say to impose double-anti...11-21
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·Indium producers in Guangxi to slash 30% produ...11-21
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·Domestic iron ore price on Nov.21, 2008 (By re...11-21
·Domestic price of coke on Nov.21, 2008 (By reg...11-21
·Domestic price of scrapped Steel on Nov.21, 20...11-21
·Domestic price of pig iron on Nov.21, 2008 (By...11-21
·Domestic billet price on Nov.21, 2008 (By regi...11-21
·Domestic plate (20mm) price on Nov.21, 2008 (B...11-21
·Domestic CR sheet (1mm) price on Nov.21 2008 (...11-21
·Domestic HR sheet (3mm) price on Nov.21, 2008 ...11-21
·Domestic high speed wire rod (Ø 6.5mm) ...11-21
·Domestic rebar (Ø 25mm) price on Nov.21...11-21
·Huge railway investment pushes forward the dev...11-21
·Baosteel to slash its production output in Dec...11-21
·Coal price continues to decline 11-21
·Zijin: 2009 is best year to acquire resources ...11-20
·Daily Quotation of Base Metals and Alumina on ...11-20
·Jilin Jien Nickel collaborates with Goldbrook ...11-20
·Jiangxi Yingtan granted as "China secondary me...11-20
·Tongling Dongguashan Copper Mine posts record ...11-20
·Zijin: 2009 is best year to acquire resources ...11-20
·Coke exports declined sharply in October11-20
·CISA: domestic steel prices represented the fu...11-20
·Steel industry is facing surplus capacity on n...11-20
·Domestic iron ore price on Nov.20, 2008 (By re...11-20
·Domestic price of coke on Nov.20, 2008 (By reg...11-20
·Domestic price of scrapped Steel on Nov.20, 20...11-20
  
     
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Chinese Metals Market Data
Settlement RMB yuan/t
19 November 2008 Chinese physical markets
Refined Copper(1#)

31,900/32,100 

31,910/32,310

31,800/32,000
Aluminium ingot (A00, 99.7%)
13,650/13,700
Huatong

13,580/13,620

13,600/13,640
Zinc ingot (0#)
29,900/9,950
9,650/10,650
9,550/10,550
Zinc ingot (1#)
9,300/9,550
9,550/9,650
9,500/9,600
Lead ingot (1#)

9,000/9,400

8,800/9,100
Tin (1#)

86,000/93,000

87,000/94,000

Nickel (1#)

97,000/100,000

97,000/100,000
US$1.000=RMB6.8293yuan  

Exchange Rates in RMB    November 19 2008 
100 units of foreign currencies 
USD 682.93 HKD
88.12
EUR
862.34
JPY
7.0748
GBP
1219.82
CHF
566.99
CAD
553.84
AUD
440.16
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