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Top news review on Chinamining.org in December, 2015

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Updated: 2016-01-05 15:25
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Comprehensive news

Chinese copper smelters to trim output
Copper producers from China have decided to cut output in 2016, in an effort to rein in commodity prices, which fell to a six-year low recently.

Losses rise for Chinese steelmakers as demand continues to wane
Losses continued to mount for steelmakers in China during October, as the sector, once the mainstay of economic growth, reeled from overcapacity and waning demand.

No new coal mines to be approved for three years to cut stockpiles
China is suspending the approval of any new coal mines for three years to eliminate stockpiles and increase new-energy consumption, according to a report in Economic Information Daily on Wednesday.


Market

China steel output seen falling for second year in 2016 - MPI 
China's crude steel output will fall for a second straight year in 2016 as a cooling economy hurts demand in the world's top producer, a government report said on Monday, underscoring the bleak outlook for the steel and iron ore sectors.

Iron ore demand to fall further next year
Iron ore demand is expected to fall further in China next year as the country continues to scale down steel output, according to forecast by an industry organization on Monday.


Merge and acquisition

CGN Mining acquires stake in Canada-based Fission Uranium
CGN Mining Co bought a stake of nearly 20 percent in Fission Uranium Corp, marking the first time a Chinese company has directly invested in a Canadian uranium company, Fission said on Monday.


Companies

China's largest shale gas project goes into production

Sinopec Group said on Tuesday that the first phase of its Fuling shale gas project in the Sichuan Basin of southwest China has gone into production with an annual capacity of 5 billion cubic meters.

Taiyuan Iron & Steel takes the value-added path to profits
Taiyuan Iron & Steel (Group) Co Ltd, China's largest stainless steel smelter by output, is banking on high-tech products to turn the tide amid an industry slowdown.


Policy

China's export tax cuts could worsen global steel, chemical gluts
China said it would cut some import and export taxes next year to boost its ailing trade sector, raising concerns that cheaper Chinese products could exacerbate a global oversupply of basic materials such as steel and chemicals.

 

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