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LONDON, Nov 28 (Reuters) - China's imports of refined copper have quietly accelerated over recent months, taking volumes to a year-to-date high in October. China's appetite for imported copper is not confined to refined metal. It is also absorbing record amounts of copper concentrates and imports of recyclable metal are running at the fastest pace since 2018. China's trade in refined copperIMPORT STRENGTHChina imported 353,000 metric tons of refined copper in October, which was the highest monthly volume this year. Shanghai Futures Exchange copper stocks, bonded stocks and Yangshan premiumBOOMING OUTPUT, LOW STOCKSHigher raw materials imports this year have allowed China's smelters to ramp up run rates.

Persons: Barbara Lewis Organizations: Democratic, Shanghai Futures Exchange, Shanghai Metal, Stocks, International Energy Exchange, Citi, Reuters, Thomson Locations: Democratic Republic of Congo, China, Congo, Beijing, Shanghai

☆ China export curbs choke off shipments of gallium, germanium for second month
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

China's exports of wrought germanium products stood at 1 kilogram, versus zero in August after a flurry of buying prior to the restrictions saw shipments of wrought products surge to 8.63 metric tons in July. China exported no wrought gallium products in August and September. Exporters of germanium and gallium products now need to obtain an export licence for dual-use items and technologies, meaning those with potential military and civilian applications. Some Chinese companies have obtained export licences for gallium and germanium products, the Ministry of Commerce said in September. China's exports of wrought germanium totaled 36.49 tons in the first nine months of 2023, up 47.4% on the year, while shipments of wrought gallium fell 61.9% on the year to 22.72 tons over the same period.

Persons: Amy Lv, Dominique Patton Organizations: cnsphoto, REUTERS, Rights, Ministry of Commerce, Shanghai Metals, Thomson Locations: Ningbo Zhoushan, Zhejiang province, China, Rights BEIJING, Beijing, Washington

☆ Chinese gallium prices hit 7-month high as demand improves, shipments resume
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsBEIJING, Oct 19 (Reuters) - Chinese prices of chip-making metal gallium hit their highest since February this week on stronger domestic demand and growing hopes of recovering exports, analysts and suppliers said. The spot price of gallium metal reached 1,975 yuan ($269.95) per kg on Oct. 18, up 18% since the start of July and up 8% since Aug. 1, data from consultancy Shanghai Metals Market showed. The Ministry of Commerce said last month that some Chinese companies have obtained export licences for gallium and germanium products. European prices of gallium metal surged by 68% from early July to $475 per kg on Oct. 18 and was up 23% from August, data from information provider Fastmarkets showed. ($1 = 7.3162 Chinese yuan)Reporting by Amy Lv and Dominique Patton in Beijing; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Li Yilan, Antaike, Amy Lv, Dominique Patton, Shounak Dasgupta Organizations: REUTERS, Rights, . Geological Survey, Shanghai Metals, Beijing, Commerce, Fastmarkets, Thomson Locations: China, Rights BEIJING, Beijing

REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The copper market will transition from supply-demand balance in 2023 to a major supply surplus next year, the International Copper Study Group (ICSG) said after its meeting in Lisbon this week. However, its assessment chimes with a copper market consensus that Chinese demand has surprised to the upside this year. It has trimmed only very slightly its 2024 global usage growth forecast from 2.8% to 2.7%. Operating constraints and smelter maintenance outages in Chile, Indonesia, Sweden and the United States will cap copper production outside of China this year. It's worth noting that the ICSG's most recent monthly bulletin suggests the global copper market notched up a hefty 215,000-metric ton production surplus in the first seven months of 2023.

Persons: Ivan Alvarado, Everyone's, Andy Home, Susan Fenton Organizations: BHP Billiton's Escondida, REUTERS, Study, Shanghai Metal, Reuters, Thomson Locations: Antofagasta, Chile, Lisbon, China, North America, Europe, United States, Indonesia, Sweden, India

☆ China's gallium, germanium exports drop to zero as tech war simmers
▼ + stars: | 2023-09-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. In July, the country exported 5.15 metric tons of forged gallium products and 8.1 metric tons of forged germanium products. The curbs are indicative of China’s apparent willingness to retaliate against US export controls, despite concerns about economic growth, as a tech war simmers. Prices for gallium have fallen in China, as export controls caused inventories to pile up. The model is powered by an advanced chip, which was created despite US sanctions intended to cut the Chinese tech giant off from such technology.

Persons: Biden Organizations: Hong Kong CNN —, Eurasia Group, China's Zhejiang University, China's Zhejiang University Hangzhou International Science, Innovation, Publishing, Shanghai Metal, Micron, Huawei, Semiconductor Manufacturing International Corp, Jefferies, China Locations: China, Hong Kong, Beijing, China's Zhejiang University Hangzhou, Shanghai, United States, Japan, Netherlands, Washington

☆ China exported no germanium, gallium in Aug due to export curbs
▼ + stars: | 2023-09-20 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

BEIJING (Reuters) - China’s exports of germanium and gallium products in August plunged to zero，customs data showed on Wednesday, due to new export controls on the two chipmaking metals. There were also no exports of wrought gallium products in August. In July, China announced restrictions on the export of eight gallium and six germanium products starting Aug. 1, the latest salvo in an escalating war between Beijing and Washington over access to materials used in making high-tech microchips. Under the new rules, exporters of germanium and gallium products now need to obtain an export licence for dual-use items and technologies, meaning those with potential military and civilian applications. Chinese spot gallium prices slid last month as stocks piled up in the domestic market due to the export controls and subdued demand.

Persons: Florence Lo Organizations: REUTERS, Beijing, Shanghai Metals Locations: BEIJING, China, Beijing, Washington, Shanghai

LME copper stocks and Cash-3s time-spreadSUMMER SURGEAlmost 100,000 metric tons of copper have been warranted in the LME warehouse network since the middle of July, lifting headline stocks to 149,600 metric tons. European inflows have been split between Rotterdam (19,325 metric tons) and the German port of Hamburg (9,850). The CME's delivery locations, however, don't include Mobile, Alabama, where LME copper stocks have grown to 1,925 metric tons. The amount of cancelled stock awaiting physical load-out from the LME warehouse system currently stands at a minimal 225 metric tons. LME, LME shadow, CME, ShFE and INE copper stocksCHINA OFFSETThe copper stocks surge has to date been largely confined to the LME delivery system.

Persons: Emelia Sithole Organizations: London Metal Exchange, Mobile, CME, Shanghai Futures Exchange, International Energy Exchange, Shanghai, Reuters, Thomson Locations: Europe, United States, China, Rotterdam, Hamburg, Asia, Kaohsiung, Busan, New Orleans, Mobile , Alabama, London, ShFE, CHINA

☆ Chinese rare earth prices hit 20-month high on Myanmar supply worry
▼ + stars: | 2023-09-07 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

BEIJING/HANOI (Reuters) -Chinese rare earth prices jumped to their highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season, analysts said on Thursday. A mining machine is seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China July 16, 2011. Rare earth is a prized group of 17 minerals used in consumer electronics and military equipment. Myanmar accounted for 38% of rare earth imports into China in January-July, Chinese trade data showed, while the Southeast Asian country was the fourth biggest source of rare earth mining in 2022, data by the U.S. Geological Survey showed. ($1 = 7.3275 Chinese yuan renminbi)

Persons: Stringer, Eikon, SMM, “, ”, Yang Jiawen, David Merriman, Merriman, ” Merriman, SMM’s Yang Organizations: REUTERS, Shanghai Metals, Mines, U.S . Geological Survey, Reuters Locations: BEIJING, HANOI, Myanmar, Bayan, Inner Mongolia, China, Myanmar’s Pangwa, Kachin State, Chipwi, Pangwa, Kachin, Southern China, Laos, Jiangxi province

China has stepped up domestic output of refined zinc this year, but the Shanghai market continues to be plagued by low inventory and tight time-spreads. China's imports, exports and net trade in refined zincRETURN TO THE IMPORT MARKETChina was a consistent net importer of refined zinc over the last decade, but that changed in 2022. Shanghai zinc stocks seasonal patterns over 2020-2023LOW INVENTORYShFE registered stocks stand at a modest 43,181 tons. Sentiment, however, holds the real key to the Shanghai premium. The country's trade in refined zinc may prove a useful mirror on that question over the next few months.

Persons: Cash, It's, Jan Harvey Organizations: Share, Shanghai Futures Exchange, London Metal Exchange, Shanghai Metal, Citi, Reuters, Thomson Locations: Eritrea's, Asmara, Eritrea, China, Shanghai, Europe, Turkey, U.S, Antwerp, Singapore, Malaysia's Port Klang, Kaohsiung, Guangdong, London

However, the continued strength of copper raw material imports is translating into record domestic refined metal production, a structural shift towards self-sufficiency that is likely to dampen demand for imported units going forwards. China's imports and exports of unwrought refined copperLOWER REFINED COPPER IMPORTSChina imported 1.65 million metric tons of refined copper in the first half of 2023, down by 12% on the first half of last year and the lowest first-half tally since 2019. China's huge copper imports are offset against a smaller outbound flow of metal mostly produced under raw materials tolling contracts. China's monthly imports of copper reyclablesMORE CONCENTRATES AND SCRAPWhile China's refined copper appetite waned in the first half of the year, its imports of mined concentrates continued to accelerate. The continued strength of raw material flows into China, however, suggests any recovery in refined metal shipments may be more muted than expected.

Persons: Chile, Tomasz Janowski Organizations: Democratic, China's CMOC, Shanghai Metal, Reuters, Thomson Locations: China, Russia, Democratic Republic of Congo, Ukraine, Beijing, Europe, United States

☆ Some Chinese steel mills ordered to cap output this year - sources
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 25 (Reuters) - Several Chinese steel mills have received instructions to cap this year's output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world's top steel market. China has mandated zero output growth in its steel sector for the last two years as it seeks to limit carbon emissions by one of its most polluting industries. China's state planner did not respond to a fax seeking comment on the caps issued at some steel mills. Some mills in the northern Chinese city of Tianjin were notified to keep steel output below the 2022 level, according to reports by local consultancies Mysteel and Fubao on Tuesday, which did not specify the number of mills. However, a dozen mills in northern Chinese cities including Tianjin and Handan contacted by Reuters said they had not yet received any instructions to cap their output.

Persons: Dominique Patton, Chizu Organizations: China Baowu Steel Group, Shanghai Metals, Reuters, Shanghai Futures Exchange, National Bureau, Statistics, Thomson Locations: BEIJING, China, Tianjin, Fubao, Shanghai, Handan, Beijing

How much more will arrive in the market of last resort depends on China, which is stepping up imports of refined zinc. China's refined zinc imports, exports and net tradeCHINA FLIPS BACK TO NET IMPORTERChina imported 45,329 metric tons of refined zinc in June, the highest monthly tally since May 2021. The country exported 81,000 metric tons of zinc in 2022, including shipments of 7,800 metric tons to Mexico and 3,400 metric tons to the United States, two destinations that haven't in the past featured in China's zinc trade. The country's monthly refined zinc production has been notching double-digit growth rates since March. So far, however, there is scant evidence of a significant build of surplus metal in the mainland market.

Persons: It's, Paul Simao Organizations: London Metal Exchange, China, Shanghai Futures Exchange, Shanghai Metal, International, Study, Reuters, Thomson Locations: Singapore, Asian, contango, China, CHINA, Mexico, United States, backwardation, Shanghai, Europe, Antwerp

☆ China's chipmaking export curbs 'just a start', Beijing adviser warns before Yellen visit
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +6 min

Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. Asked about the metals export curbs, Chinese foreign ministry spokesman Wang Wenbin said on Wednesday the government's actions were reasonable and lawful. WARNING SHOTSome larger chip manufacturers view China's export controls on gallium as more of a warning shot about what economic pain the country could inflict. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Wei Jianguo, Wei, Yellen, Biden, China's, Wang Wenbin, Wang, Gecamines, Belgium's Umicore, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Tian, Nick Carey, Muralikumar Anantharaman, Jacqueline Wong, Catherine Evans Organizations: Treasury, Thursday Analysts, Washington, Commerce, China Daily, China Center for International Economic, Independence, Analysts, Micron, Global Times, Union, Benchmark Mineral Intelligence, AMS, Democratic, Shanghai Cooperation Organisation, Shanghai Metal Exchange, Beijing, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, U.S, Japan, Netherlands, United States, Swiss, Teck Resources, North, Democratic Republic of Congo, Russia, Washington, Yunnan, London

☆ Beijing's curbs on niche metal exports threaten China supply glut
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

Gallium prices in China have dropped 12% this year, pressured by its slowing economy. China's germanium ingot price has advanced only 1% to 7,250 yuan per kg since Monday. Overseas price offers are rising much faster, amid fears that Beijing may use the permitting system to restrict shipments. The Chinese government enforces export controls that do not target any particular country," spokesperson Shu Jueting told a weekly press conference. China produces around 60% of the world's germanium, and over 90% of the world's gallium.

Persons: Theo Ruas, Willis Thomas, Ruas, Shu Jueting, Amy Lv, Siyi Liu, Seher, Dominique Patton, Kim Coghill Organizations: China's Ministry of Commerce, Washington, Producers, Corporation, Shanghai Metal Exchange, CRU, Reuters, Thomson Locations: BEIJING, China, Beijing, U.S, London, Bangalore

☆ China adviser warns chipmaking export curbs are 'just a start', as Yellen visit looms
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

Shares in some Chinese metals companies rallied for a second session, with investors betting that higher prices on gallium and germanium, which Beijing's export restrictions target, could boost revenues. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices as well as satellite imagery sensors. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. CURBS ON EXPORTS TO CHINAWashington is considering new restrictions on the shipment of high-tech microchips to China, following a series of curbs over the past few years. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Yellen's, Biden, China's, Wei Jianguo, Wei, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Christopher Cushing, Muralikumar Organizations: Independence, Analysts, Micron, Commerce, China Daily, China Center for International Economic Exchanges, Global Times, Shanghai Cooperation Organization, Shanghai Metal Exchange, Beijing, Thomson Locations: BEIJING, SHANGHAI, Beijing, Japan, Netherlands, China, CHINA Washington, United States, Yunnan

☆ What are Gallium and Germanium and which countries are producers?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +5 min

Germanium ores are rare and most germanium is a by-product of zinc production and from coal fly ash. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium. "Zinc selenide and germanium glass substitute for germanium metal in infrared applications systems, but often at the expense of performance."

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Pratima Desai, Tom Hogue, Himani Sarkar, Catherine Evans, David Evans Organizations: Alliance, . Geological Survey, WHO, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Which countries produce strategic materials Gallium and Germanium?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

Germanium ores are rare and most germanium is produced as a by-product of zinc production and from coal fly ash. China produces around 60% of the world's germanium, according to the European association Critical Raw Materials Alliance (CRMA), with the rest coming from Canada, Finland, Russia and the United States. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium.

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Tom Hogue, Himani Organizations: Alliance, WHO, United States Geological Survey, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Factbox: Where are strategic materials germanium and gallium produced?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

Germanium ores are rare and most germanium is produced as a by-product of zinc production and from coal fly ash. China produces around 60% of the world's germanium, according to the European association Critical Raw Materials Alliance (CRMA), with the rest coming from Canada, Finland, Russia and the United States. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. Around 80% is produced in China, according to the CRMA. Gallium is used to make gallium arsenide for use in electronics.

Persons: Eikon, Dominique Patton, Mai, Tom Hogue Organizations: Alliance, Shanghai Metal Exchange, Thomson Locations: BEIJING, China, Canada, Finland, Russia, United States, Europe, Japan, U.S, Mai Nguyen, Beijing

LONDON, June 27 (Reuters) - There's a renewed scramble for copper sitting in London Metal Exchange (LME) warehouses. Headline LME copper stocks have slid from 100,100 tonnes to 77,050 over the last three weeks despite almost 30,000 tonnes of arrivals. The drain on LME copper stocks is puzzling given weakening manufacturing activity in both Europe and the United States. It wouldn't be the first time that the LME stocks signal has been refracted, and the lower the stocks, the easier it is to bend the light. The Shanghai exchange has experienced tightness across the front part of the curve since March, with time-spreads now also the widest since November.

Persons: Boliden's, Copper, Jan Harvey Organizations: London Metal Exchange, LME, U.S ., CME, Shanghai Futures Exchange, Shanghai Futures, ShFE's, International Energy Exchange, Shanghai Metal, Reuters, Thomson Locations: Europe, United States, U.S, London, ShFE, INE, Shanghai, China, Asia

LONDON, June 20 (Reuters) - The closure of the Tara zinc mine in Ireland tells you how far the price of the galvanising metal has fallen over the last year. The closure is unlikely to alleviate the immediate over-supply of zinc concentrates but it is a sharp reminder for the market that the zinc price is teetering on the edge of the mining production cost curve. LME zinc price, stocks and spreadsTARA'S PERFECT STORMTara Mines, based in County Meath, is "currently cash flow negative due to a combination of factors including operational challenges, a decline in the price of zinc, high energy prices and general cost inflation", Boliden said. "The zinc market seems to be very volatile at the moment," Nystrom said, which is an understatement given the scale of the price collapse over the last 15 months. But Tara's suspension is a wake-up call that after a year of worrying about smelters, zinc traders need to start worrying about zinc mines as well.

Persons: Tara, Boliden, Mines, Gunnar Nystrom, Ireland's, " Nystrom, Morgan Stanley, Barbara Lewis Organizations: London Metal Exchange, Ireland's RTE, Shanghai Metal Markets, Fastmarkets, Reuters, Thomson Locations: Ireland, County Meath, Europe, China, Shanghai, London

Western lead buyers remain reliant on China's exports to smooth out the global supply chain. WESTERN MARKET STILL TIGHTChinese inflows have helped nudge LME stocks higher. U.S. buyers are paying up to 20 cents/lb ($440 per tonne) over the LME cash price to secure spot metal, according to Fastmarkets. Europe, however, should fare better this year thanks to the restart of the Stolberg lead smelter in Germany. The difference between the pace of production and usage recovery explains the narrowing global supply gap this year.

Expressed in terms of annualised run-rates, China's output of 39.9 million tonnes last month was the lowest in a year and down by 1.6 million tonnes from August's record 41.5 million. China's aluminium production is now highly dependent on weather patterns in the south of the country. China's average daily aluminium output and monthly annualised changePRAYING FOR RAINYunnan province accounts for around 12% of China's aluminium capacity and produced 4.2 million tonnes in 2022. WESTERN PRODUCTION FLAT-LINESPrimary aluminium production outside of China was flat year-on-year in the first quarter. WEATHER WATCHHowever, China's dominant position in the global aluminium picture means that it holds the key to future production patterns.

China's refined copper imports and exportsIMPORT SLUMPChina imported 408,174 tonnes of copper in March, down by 19% year-on-year and the lowest monthly intake since October. The preliminary customs report aggregates arrivals of refined metal, anode, alloy and semi-manufactured products. The country also imported 1.8 million tonnes of recyclable materials, the largest amount since 2018, and a record 25.3 million tonnes of mined concentrates. National refined copper output rose by 11% year-on-year in January-February, according to the country's official statistics body. So far this year it seems to have lost its appetite for more refined copper.

LONDON, April 12 (Reuters) - The zinc market was defined by smelter woes last year with global refined metal production dropping by 4.1% relative to 2021, according to the International Lead and Zinc Study Group (ILZSG). But the smelter bottleneck was severe enough to generate a global supply shortfall of more than 300,000 tonnes, according to ILZSG. A sharp rise in the annual benchmark smelter processing fee should incentivise a turnaround in metal production. Annual "benchmark" zinc smelter processing feesOUT-OF-SYNCH SUPPLY CHAINThis year's benchmark treatment charge, the fee a smelter earns for converting mined concentrates into metal, has been set at $274 per tonne, up from $230 in 2022 and $159 in 2021. Global mined and refined zinc production annual changeSMELTER RECOVERY?

[1/3] Samples of rare earth minerals from left: Cerium oxide, Bastnaesite, Neodymium oxide and Lanthanum carbonate at Molycorp's Mountain Pass Rare Earth facility in Mountain Pass, California June 29, 2015. Australia's Lynas Rare Earths Ltd. (LYC.AX) slumped 6.8% on the news and has fallen further since. It hasn't helped the price of rare earths either, accentuating a sharp slide that began in February. Shanghai Metal Market rare earth assessmentsRARE EARTHS ROLLER-COASTERRare earths have been on a price roller-coaster over the last three years. There is also the lingering threat that China could weaponise its rare earths supply if relations with the West deteriorate.

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