China

Fitch Drops Hongqiao’s Outlook to Negative, Reaffirms its BB Rating

Fitch Drops Hongqiao’s Outlook to Negative, Reaffirms its BB Rating

Fitch Ratings Inc. announced today that it has downgraded its Outlook on China Hongqiao Group’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) from Stable to Negative. According to the accompanying press release, the decision was made due to the firm’s “persistent...

Events

U.S. Customs Considering Tariffs Change to Combat Fake Semis

U.S. Customs and Border Protection is working with the American aluminium industry to change aluminium tariffs in a manner designed to staunch the flow of fake semis from China into the global aluminium market. As previously detailed in these pages, major Chinese firms have been justifiably accused on several occasions of shipping partially-machined aluminium parts […]

China Hongqiao Misses Revenue Expectations for First Half of 2016

Results for Chinese aluminium giant China Hongqiao Group Ltd were lower than expected for the first half of 2016. The firm, still the world’s largest producer of aluminium, reported earnings for the period on Friday. At the end of the first half of 2016 the firm’s aggregate designated aluminium production capacity topped out at 5.9 […]

US Government Continues Anti-Dumping Duties Against China

The United States government is expected to maintain an anti-dumping and anti-subsidy order on aluminium extrusions from the People’s Republic of China, according to a Chinese government website. The “China Trade Remedy Information” website, which is operated by China’s Ministry of Commerce, posted an article Tuesday afternoon (Beijing time) indicating that the US Department of […]