Oversupply concerns weigh heavily on the steel sector in China as some 80 million metric tons of fresh capacity will hit the market this year amid dwindling demand due to the COVID-19 epidemic, an industry expert said.

China’s booming copper imports an echo of the last crisis

Lithium-ion cell manufacturing capacity pipeline could quadruple by 2030 — report

China iron and steel association (Cisa) member mills increased steel output to a record high in late July as stimulus and lockdown delays extended the construction season into late summer.

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The Chinese magnesium market is widely expected to come under short-term downward pressure from ample supplies.

HBIS Resources Co Ltd, a unit of China’s second-biggest steelmaker HBIS Group, said last Monday it had signed an initial deal to develop the Pampa de Pongo iron ore mine in Peru alongside current licence-holder Zhongrong Xinda.

Exports of the province in the first six months totaled 110.27 billion yuan, up 1.7 percent year-on-year, while its imports surged 18 percent to 82.18 billion yuan during the same period.