Chinese shares slumped on Thursday after HSBC data showed the nation's manufacturing activities fell to a nine-month low this month.
The Baotou Rare Earth Products Exchange founded on August 8th last year is being decorated and will release its trade rules and regulation details in August.
According to the National Bureau of Statistics, China iron ore output hit a new high for the year of 116.79 million mt in May.
China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC.
Borrowing costs between Chinese banks soared Wednesday after a brief retreat from high levels, suggesting the market remains concerned of a liquidity shortage.
A massive withdrawal of deposits in early June has put a major squeeze on some banks, forcing them to increase their borrowings in the interbank market to meet their obligations.
Bank and property shares led a slumping market on Wednesday to a six-month low, as expectations of liquidity tightening grew.
Zambia's Mopani Copper Mines owned by Glencore Xstrata Plc plans to raise annual copper output to 170,000 tonnes from 120,000 tonnes within five years after investing in new projects and upgrades.
Copper slid to six week lows on Wednesday after Federal Reserve chief Ben Bernanke outlined plans for reining in the U.S. central bank's massive bond-buying program.
Financial reform must be promoted in an orderly way, State Council says
The government is not likely to release new tightening policies in the short-term to curb property prices, JP Morgan's chief China economist Zhu Haibin said Wednesday.
Cliffs Natural Resources Inc does not expect a flood of new supply in the Great Lakes iron ore pellet market over the next few years.
Gold fell for a fourth straight session on Thursday to its lowest in a month.
Rare earth prices peaked in June 2011 before falling, and are now at late 2010 levels.
Anshan I/S and Shougang Group released their ex-works prices for hot-rolled coil in July.
[Jun 20, 2013]May marks the third month in a row that China’s copper inventories...
[May 22, 2013]The one and the only international conference focusing on copper ore...
Copyright © SMM. All Rights Reserved