WTO Rules against China, Association Sees Limited Impact-Shanghai Metals Market

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WTO Rules against China, Association Sees Limited Impact

Industry News 10:19:54AM Feb 13, 2012 Source:SMM

How will the WTO ruling against Chinese export restrictions on 9 raw materials affect related non-ferrous metals exports? Jia Mingxing, Vice President of China Nonferrous Metals Industry Association (CNIA), said any such impact will be limited.

According to the association leader, China’s exports for the 9 raw materials involved are not large. Take bauxite as an example: 50% of China’s bauxite demand is met by imports; bauxite export therefore only has limited influence on China’s bauxite supply and demand. As China exports no more than 50,000 mt of zinc ingots each year, the WTO ruling will exert limited impact on China’s zinc ingot export.

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SMM #1 Nickel
Jul.16
107000.0
850.0
(0.80%)
#1 JinChuan Nickel
Jul.16
107750.0
750.0
(0.70%)
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Jul.01
1050.0
0.0
(0.00%)
#1 Import Nickel
Jul.16
106250.0
800.0
(0.76%)
SHFE nickel contract premium/discount
Jul.01
-550.0
0.0
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WTO Rules against China, Association Sees Limited Impact

Industry News 10:19:54AM Feb 13, 2012 Source:SMM

How will the WTO ruling against Chinese export restrictions on 9 raw materials affect related non-ferrous metals exports? Jia Mingxing, Vice President of China Nonferrous Metals Industry Association (CNIA), said any such impact will be limited.

According to the association leader, China’s exports for the 9 raw materials involved are not large. Take bauxite as an example: 50% of China’s bauxite demand is met by imports; bauxite export therefore only has limited influence on China’s bauxite supply and demand. As China exports no more than 50,000 mt of zinc ingots each year, the WTO ruling will exert limited impact on China’s zinc ingot export.