China

Trading Suspended of China Hongqiao Shares After Report Alleges Financial Inconsistencies

Trading Suspended of China Hongqiao Shares After Report Alleges Financial Inconsistencies

The world’s largest aluminium manufacturer China Hongqiao Group called for a suspension of trading of its stock yesterday morning in the wake of allegations by a short seller that the firm is hiding in excess of US$3 billion in costs, and that...

Events

Beijing Floating Aluminium Capacity Cuts to Combat Smog

Protection intended to fight air pollution was circulated among members of the China Nonferrous Industry Association. Deutsche Bank, citing the Chinese website Sina, said the proposed regulation, known formally as “2017 Air pollution prevention and control plan in Beijing, Tianjin, Hebei, and surrounding areas,” would reduce capacity in a region that houses over one third […]

Will 2017 Be the Year Aluminium Prices Reclaim Their Shine?

Oleg Deripaska, the president of Russian aluminium titan UC Rusal, addressed the Annual Meeting of the World Economic Forum in Davos on Wednesday. “Renewables are an excuse for some countries to use more coal”, he said, before arguing that “We need to implement a carbon price, let’s say tomorrow and maybe even escalate it a […]

US Government Seizes Aluminium Stockpile with Alleged Ties to Liu Zhongtian

According to a report in Saturday’s Wall Street Journal, officers from the United States Department of Homeland Security have seized a stockpile of aluminium valued at US$25 million that is alleged to have ties to China Zhongwang’s Liu Zhongtian. This move by the United States government is the latest step in the journey to an […]

Parting Shot – Obama Administration Takes China’s Aluminium Overcapacity to WTO

The Obama Administration initiated a complaint at the World Trade Organization on Thursday over government subsidies given to aluminium producers by the People’s Republic of China. This complaint, which is the sixteenth (and likely final) such complaint against China with the trade body, alleges that Beijing has been handing out low-interest loans and energy subsidies […]