Recent blazes involving Tesla Inc. and NIO Inc. cars in Greater China are prompting the industry to take steps to alleviate concerns from potential customers.
China Mining News
Although most of the precious metals sector has trended lower in recent months, gold has held up well.
The metal touted for its environmental benefits, particularly in the manufacture of lighter cars and trucks, has a big problem with storing its toxic by-products.
The Dubai Multi Commodities Centre and the China Gems and Jade Exchange signed a memorandum of understanding to create new trading opportunities.
Near 17% decline in Chinese car sales in April – the 11th monthly drop in a row – compounds impact of Washington-Beijing trade salvoes.
Prices of 65% iron-content ore for delivery to China hit a five-year-peak of $110.5 a tonne on Thursday, while its premium to benchmark 62% ore widened to five-month highs.
Specialist materials firm Johnson Matthey forecast a 127,000-ounce platinum shortfall this year, after surpluses of 372,000 and 44,000 ounces in 2018 and 2017 respectively.
Investors are standing by for a fresh bout of market turmoil as President Donald Trump turns up the heat on Beijing over trade.
A trade war between the United States and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, Jean-Paul Luksic told El Mercurio.
But tin, nickel miners and aluminum manufacturers should worry more.
Gold futures in India fell to 31,240 rupees per 10 grams last week, the lowest in more than four months and down 8.2% from a 2019 high of 34,031 rupees hit in February.
Talison Lithium, a partnership between China’s Tianqi and U.S. group Albemarle, obtained an environmental approval for the A$516-million ($361m) expansion of the Greenbushes mine in Western Australia.
The announcement follows illegal capacity expansions approved by local governments under the cover of capacity swaps.
Zinc stocks plummeted from 900,000 tonnes at the beginning of 2014 to around 120,000 five years later - due to a rash of zinc mine closures over the past few years and tighter environmental restrictions in China.
Renewable energy deployment stalled out last year, raising alarm bells about the pace of the clean energy transition.
The S&P Chemical Index lost about $20 billion in market value in two days, while the metals index lost nearly $850 million.
A swift deterioration in China-US trade talks hit global financial markets this week as investors faced the prospect of an escalation rather than an end to a 10-month-old trade war.
Brazil shipped 18.34 million tonnes of iron ore in April, down 17% from the prior month and a massive 29% from the same month a year earlier.
Countries have been scrambling to claim territory or, like China, boost their presence in the region.
Base metals have had a shaky start to 2019, with a cautious Q1 advance giving way to an April drop on uncertainty about the global economy.
The number of these hazardous non-coal mines fell by a quarter in 2018 versus 2012, but they are still plentiful.
Oil recovered from early declines after U.S. President Donald Trump threatened to escalate his trade war with China.
London Metal Exchange (LME) copper slumped 3% on Wednesday and has slid further to a three-month low.
The “New Silk Road” is the term for an ambitious trade corridor first proposed by the Chinese regime under its current president, Xi Jinping, in 2013.
Industrial metal markets are taking a breather as they await tangible evidence that China's latest stimulus package is feeding through to a flagging manufacturing sector.