Chinese imports from the US of products including metals concentrates and non-ferrous and ferrous scrap are eligible for two rounds of applications for exclusion from Chinese tariffs, according to a new policy document seen by Fastmarkets. The document from the Customs Tariff Commission of the State Council implies that some Chinese metals importers will be able to buy these products without paying tariffs of as much as 25%.
With an international career that has spanned senior positions with some of the biggest companies and mines for non-ferrous metal production, Sonami president Diego Hernandez tells Andrea Hotter about the multiple roles that led him to the pinnacle of copper mining
In a new metals fraud case, state-owned Chinalco Shanghai Copper alleges that one of its trading subsidiaries paid more than $6 million for 900 tonnes of domestically warehoused copper from another trader, Jiangsu Trade Gold Supply Chain Management, only to discover that the material did not exist, company documents seen by Fastmarkets show.
Cuts to South Africa’s production of ferro-chrome have added to bearish market sentiment in China amid predictions that increased availability of raw materials will weigh on ore prices, Fastmarkets heard in the week ended Friday June 14.
The queue for aluminium at London Metal Exchange-approved warehouses at Port Klang, Malaysia, operated by Istim, edged down to 109 days at the end of May, according to the latest LME data.
