China’s state-owned Sinochem is in early talks with Noble Group to buy an equity stake in the embattled trader, three sources familiar with the matter said, in a move that would help it gain access to the commodity trader’s global supply chain. According to Reuters, taking a stake in an internationally active trading house like […]
Category: Commodities
Rio Tinto, capitalizing on last year’s sharp rally in commodity prices, sold a major piece of its coal business for $2.45 billion to a Chinese company, the biggest move yet in the British-Australian mining giant’s move to shed its coal assets. The sale of subsidiary Coal & Allied Industries. includes Rio’s giant coal operation in Australia’s […]
Commodities from iron ore to rubber soared on Chinese futures exchanges Monday, as speculators bet that supplies will tighten, The Wall Street Journal reports. Prices of iron ore on the Dalian Commodity Exchange surged 7.2%, to a more than two-year high of 653 yuan ($95) a metric ton, while the most active steel-rebar futures traded […]
The Obama administration is expected to launch a formal complaint Thursday against the Chinese government with the World Trade Organization over subsidies it says Beijing provides to the country’s vast aluminum industry, according to The Wall Street Journal. The complaint would represent an escalation of trade disputes between countries with the world’s two largest economies […]
China aims to cut the capacity of its coal mines by 300m tonnes a year until 2020 even as production and consumption of the fuel increases, according to the country’s top economic planner. Beijing is targeting output of 3.9bn tonnes of coal in 2020, up from 3.75bn tonnes in 2015, said the National Development and […]