President Xi Jinping offered his encouragement to the nations of Latin America to join the ambitious ‘Belt and Road’ initiative, Xinhua reports, following the 2nd CELAC meeting in Santiago, Chile. In the letter, Xi drew upon historical similarities between China and South America, stating that have faced significant hardship in recent centuries and are currently trying to […]
Category: Commodities
With the State of the Union address approaching and the budgetary planning process underway, the US is expected to clarify its stance towards China over trade. President Donald Trump, who has so far employed tough rhetoric on the issue, has the markets questioning the sincerity of his threats. The Trump administration currently faces the decision […]
US aluminum makers asked the government to impose new trade protections against Chinese imports on Tuesday, accusing companies including China Zhongwang Holdings Ltd of evading US anti-dumping and anti-subsidy duties by shipping products through Vietnam, Reuters reports. The Aluminum Extruders Council said in its filing with the US Commerce Department that aluminum extrusions from Zhongwang affiliate […]
A second Sino-Russian oil pipeline that will double China’s imports of crude from the East Siberia-Pacific Ocean system began operating on January 1, Bloomberg reports. China has the capacity to import 30 million tons annually (about 600,000 barrels a day) of crude via the new pipeline, up from 15 million tons before the second branch opened, the […]
A government official from China’s eastern province of Shandong announced Thursday that the region plans to shut down 1.23 million tons of coal capacity, according to Reuters. The statement came two days after Shandong was singled out for criticism by the central government in Beijing over its failure to proactively cut coal capacity. The Ministry […]