China’s cabinet says it has “basically completed” its targets this year to reduce excessive production capacity in the nation’s steel and coal sectors, but analysts have questioned whether the government’s campaign will have any real impact. Premier Li Keqiang ordered his ministers and local officials to shut down 45 million tonnes of steel capacity this […]
Category: Commodities
The South China Morning Post reports profit growth in China’s industrial sector picked up in October, aided by stronger sales and higher prices, suggesting further strengthening of the world’s second-largest economy, although growth was skewed towards high-polluting heavy industry. Profits in October rose 9.8% to 616.1 billion yuan (HK$690 billion), the National Bureau of Statistics […]
China will send inspection teams to investigate and severely punish illegal expansion by coal and steel firms as part of its efforts to slim down the two industries, the country’s cabinet said on Thursday. With most of the country’s steel and coal enterprises making losses in 2015, China promised in February to slash 500 million […]
A months-long rally in China’s commodity futures may be coming to an end after the country’s exchanges took steps to crack down on speculative trading, according to the Financial Times. Futures for coal and iron ore that rallied sharply this year have gyrated this week following a dramatic rout on Friday evening after China’s three […]
After shaking up iron ore, steel and coal futures this year, Chinese investors have taken on copper. Bloomberg reports the metal jumped 11% last week, the most since 2011, as President-elect Donald Trump’s pledge to spend as much as $1 trillion on infrastructure boosted the outlook for demand. But the impetus for the surge probably […]