China

CNIA, Zhongwang Rebut Fake Semis Allegations

CNIA, Zhongwang Rebut Fake Semis Allegations

China’s Nonferrous Metals Industry Association (CNIA) responded to widespread accusations in overseas media regarding the alleged fake semis activity in Mexico by China Zhongwang and related companies. The charges, which have lately appeared in prominent media outlets like the Wall Street Journal...

Events

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 high debt-funded capex, which has resulted high negative free cash flow (FCF) and […]

Chalco’s First-Half Results Up Thanks to Bump in Global Aluminium Prices

State-backed Aluminum Corporation of China Ltd (Chalco) published results for the first half of 2016 on Thursday. The firm posted an increase in profits thanks to a modest recovery in the global aluminium market. The firm posted a net profit of US$8.62 million in the first six months of the year, which is a significant […]

China to Increase Aluminium Consumption by One Fifth over Next Three Years: CNIA

An aluminium industry group in the People’s Republic of China said that the country plans to increase domestic aluminium demand by eighteen percent over the next three years. Increases are expected to come from the use of high-end products in construction and transportation. The China Nonferrous Industry Association said on Tuesday that the Middle Kingdom […]