Metals News
[Sep 13, 2010]China Sets New Policies for Emerging Industries and Long-Term Investment - Highlight from China Base Metal Briefing
data analysis
Sep 13,2010

On September 8th, China's State Council set support policy for seven major strategic emerging industries, including energy-conservation and environmental protection, information technology, biology, high-end equipment manufacturing, new energy, new materials, and new-energy powered automobiles. SMM believes the announcement is also expected to guide long-term investments in China.

Copper:  Transactions in the spot market improved as copper prices fell. Production at domestic copper smelters was stable, with only limited impact felt on production from restrictions on electricity supply.  (Page 4)

Aluminum:  Guangxi province has become the first region in China to report aluminum production cuts in response to moves by the Central and local governments to conserve energy and reduce emissions. SMM believes production cuts in Guangxi province will be extended until April 2011 and also predicts 2010 aluminum output will amount to 130 kt.    (Page 7)

Zinc:  Both LME and SHFE zinc prices fluctuated at high levels, but plunged on Thursday. SMM predicts LME and SHFE zinc prices will fluctuate higher next week.  (Page 8)

Lead:  LME lead market experienced further corrections after falling back to USD 2,200/mt following mixed news. Domestic lead prices still met resistance at RMB 16,500/mt, with deals made between RMB 16,200-16,400/mt.   (Page 11)

Nickel:   China's domestic refined nickel prices moved up.  (Page 13) 

SMM report
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