Beursonline.nl

voda 17 april 2017 16:40

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Xi Jinping’s dream city may turn out to be China’s biggest public works project, ever – Morgan Stanley

According to a projection by Morgan Stanley, Xiongan New Area, the Chinese president’s ambitious plan to remake a backwater into a dream city, could lure as much as 2.4 trillion yuan (US$348 billion) of investments over the next decade, adding as much as 0.4 percentage point to China’s economic growth every year.

The new city, designed as a salve to ease Beijing’s notorious overcrowding, air pollution and congested traffic, will redirect up to 6.7 million people to the 100 square kilometre area, eventually expanding the area’s size 20-fold over a decade. That could potentially make it the largest ever infrastructure project in the history of modern China.

Analysts said that state-backed institutions and companies are likely to be the biggest winners out of the mega project, as they are in the best position to get the lion’s share of construction works and services.

Zhang Zhiqian, deputy head of China Jianyin Investment’s research institute, in an interview with the South China Morning Post that “Xiongan will be developed under the government’s plan by tapping the country’s own resources and strength. In terms of investment opportunities, it’s important to follow the government’s blueprint so as to comply with the policy directions.”

Jianyin is a subsidiary of Central Huijin Investment, which invests funds for the Chinese government’s sovereign wealth fund.

The Chinese central bank has already put its weight behind the project, as it organised a weekend seminar to direct the country’s financial institutions to extend credits toward projects associated with the project.

Jianyin’s Zhang said that “There will be very few opportunities for speculators who hope to get rich overnight via investment in Xiongan. After all, it’s a project on which the central government has a tight rein over it, and the development will be step by step.”

On April 1, the State Council announced its plan to build Xiongan (????) – a district that covers Anxin (??), Rongcheng (??) and Xiongxian (??) counties in Hebei province - to absorb “non-capital” functions from Beijing.

The three counties, located about 100 kilometres south of Beijing, now have a total population of about 1 million. Population may ballon to 6.7 million over the next decade under the most optimistic scenario projected by Morgan Stanley, as new residents and a new workforce follow industries into the area.

State-owned enterprises, universities, hospitals, research institutions and less-important national organisations are expected to be relocated to the new area in the coming years.

Beijing touted the relocation project as a grand move on par with the developments of Shenzhen in 1980s and Shanghai’s Pudong New District in 1990s.

Zhang said that “It will be distinct from Shenzhen and Pudong which aimed at attracting foreign funds to support the development.“Besides, it is unlikely to become a densely populated city because it is designed to be a “green” place for comfortable living.”

Jianyin Investment focuses on finance, manufacturing, culture, consumer and information technology sectors in tandem with the transition of China’s economy into a new pattern driven by consumer spending.

Source : South China Morning Post

voda 18 april 2017 17:02

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China Hongqiao is in trouble

The Australian reported that world’s biggest aluminium producer is in trouble, locked in a feud with its accountant over fraud allegations that have forced it to suspend trading of its shares and seek help from the central government in Beijing.

China Hongqiao, has drawn the attention of the global aluminium market and US trade officials as it soared to the pinnacle of the industry in the past few years, leapfrogging the production of giant competitors like Alcoa in the US and United Co Rusal in Russia. Its rise coincided with American allegations that Chinese companies helped by government subsidies flooded the world with cheap aluminium, coal and steel, depressing prices and decimating US industries.

Now China Hongqiao, a Hong Kong-listed company that employs nearly 60,000 people, is facing fraud allegations from two short sellers that the firm says threaten its financial stability.

Trouble for Hongqiao could up end the aluminium industry in China and present an opportunity for American producers who say the company has been using unfair tactics to dominate the industry. It could also reinforce broader concerns over what many view as questionable business practices by China’s big industrial giants, many of which are increasingly active on the global stage. China Hongqiao declined to comment.

In a March 4 letter reviewed by The Wall Street Journal, China Hongqiao sought assistance from a trade group, the Chinese Non-Ferrous Metals Industry Association (CNIA), saying the short sellers’ claims of inflated profits were forcing the company’s accountant, Ernst & Young, to adopt an extremely conservative and careful attitude.

Then, on March 6, Ernst & Young notified the company it had suspended its audit of its 2016 financial results, according to a March 31 statement by China Hongqiao. China Hongqiao said that Ernst & Young asked the company to commission an independent investigation into the short sellers’ claims, delaying the release of the company’s annual financial results. Without audited results, China Hongqiao said in its letter to CNIA, the company risks an investigation from Hong Kong securities regulators and a credit crunch. The company has about USD 10 billion in debt, according to securities filings. It could be in default on a USD 700 million loan unless it gets waivers from creditors, says Standard & Poor’s Global Ratings. S & P, citing the move by Ernst & Young, has downgraded China Hongqiao’s bonds a notch deeper into junk territory to B-plus.

In its March 31 statement, China Hongqiao denied the short sellers’ fraud allegations, calling them “untrue and unfounded”. Ernst & Young did not comment.

China Hongqiao asked the CNIA and the Chinese government to come to its aid, warning in its March 4 letter of “serious effects” if nothing is done, including “regional systemic financial risks” and “dramatic social unrest.”

It isn’t clear whether the government or regulators will step in. The CNIA, the Hong Kong Securities and Futures Commission, and China’s Ministry of Industry and Information Technology, which oversees China’s industrial policies, didn’t respond to requests for comment.

Paul Adkins, managing director of AZ China, a Hong Kong consultancy that tracks the Chinese aluminium industry said that “The events are very embarrassing for the Chinese and for Hongqiao.”

The dispute shines a light on the underpinning of a Chinese aluminium boom that has roiled trade relations with the US.

Source : The Australian

voda 21 april 2017 15:40

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China renewable power waste worsens in 2016 - Greenpeace

Environment group Greenpeace said in a research report published on Wednesday, despite government pledges to rectify the problem, the amount of electricity wasted by China's solar and wind power sectors rose significantly last year. China promised last year to improve what it called the "rhythm" of construction of power transmission lines and renewable generation to avoid "curtailment," which occurs when there is insufficient transmission to absorb the power generated by the renewable projects.

But Greenpeace said wasted wind power still rose to 17 percent of the total generated by wind farms last year, up from 8 percent in 2014. The amount that failed to make it to the grid was enough to power China's capital Beijing for the whole of 2015.

It said that wasted wind generation in the northwestern province of Gansu was 43 percent of the total generated last year.

Solar curtailment rates across China rose 50 percent over 2015 and 2016. More than 30 percent of available solar power in Gansu and neighbouring Xinjiang failed to reach the grid.

In an earlier report Greenpeace said total solar and wind investment between now and 2030 could reach as much as $780 billion.

But, rising levels of waste had cost the industry as much as 34.1 billion yuan ($4.95 billion) in lost earnings over the 2015 to 2016 period, it said on Wednesday.

China produced 12.3 billion kilowatt-hours (kWh) of solar power in the first quarter of 2017, up 31 percent year-on-year but accounting for just 1.1 percent of total generation over the period, according to official data on Monday. Wind rose to 62.1 billion kWh, 4.3 percent of the total, but was dwarfed by the 77.9 percent share occupied by thermal electricity.

Grid construction has fallen behind, with China focusing on expensive ultra-high voltage cross-country lines, which are better suited to large-scale power generation projects, including large hydropower facilities in the southwest.

Greenpeace climate and energy campaigner Yuan Ying, said that "Upgrades to the system are urgently needed, including a more flexible physical structure of the grid, efficient cross-region transmission channels and smart peak load operation."

Source : Reuters

voda 24 april 2017 17:02

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Beijing introduces prefab residential buildings

China.org reported that Beijing is now building its first project of prefab steel structure residential buildings in its western Shijingshan District. The building project, designed and contracted by Shougang Group, a state-owned construction company, boasts a short construction cycle, energy conservation, environmental protection as well as earthquake resistance.

Mr Su Baozhen deputy manager at Beijing Shougang Construction Group said that “It saves time and labor, and environmental friendly at the same time.”

By avoiding time-consuming labor as in traditional concrete structures, the new steel homes are easily constructed by combining all the prefabricated building blocks together. It can save 30 percent of the total construction time and 60 percent of the labor force, said Qi Weizhong, vice director of the project’s working group.

Source : China.org

Bijlage:

voda 25 april 2017 16:55

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China ratchets up the pressure on its aluminium producers - Andy Home

Reuters reported that is aluminium the new steel for China's policy-makers? China's aluminium producers, which like their steel counterparts now dominate global supply, seem to be next in line for "supply-side reform".

Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminium prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang. Further measures seem certain to follow.

The country's aluminium output growth is already showing signs of braking sharply, although, as ever, statistical confusion may simply be adding to the general confusion as to what Beijing's real aluminium policy goals are.

Beijing's plan to force capacity reductions in the area around the capital city next winter had already lit a fire underneath the aluminium price.

Sceptics argue that the size of the likely cuts will be dwarfed by the continuing roll-out of new capacity, particularly in the far-flung northwestern province of Xinjiang.

That calculation has now just been thrown into question after three Xinjiang smelter projects were ordered suspended last weekend.

Xinjiang has emerged as the new hub of both Chinese and global aluminium capacity with more than seven million tonnes of operating production and a seemingly endless supply of new smelter projects.

Source : Reuters

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voda 26 april 2017 16:15

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Chongqing Steel warns of bankruptcy after creditor goes to court

Iron and Steel Company warned of the risk of bankruptcy on Tuesday, after one of its creditors submitted an application to a local court to reorganise its assets. Chongqing Steel said in a notice posted to the Hong Kong Stock Exchange that the creditor, identified as Chongqing Laiquyuan Trading, told a court on Monday that the southwest China-based steelmaker's assets were not sufficient to pay off all its debts. It said “If the court formally accepts the application for reorganization Chongqing Steel will be exposed to the risk of declaration of bankruptcy.”

The firm, which has blamed its predicament on China's economic downturn, industrial overcapacity, soaring labour costs and low steel prices, has tried to expand into more profitable sectors and ditch its steelmaking assets, which operate at a loss.

But it said last week that there was "great uncertainty" whether its restructuring plans could proceed, with the firm struggling to reach an agreement with its main creditors.

Chongqing Steel's audited net profits and assets were negative for both 2015 and 2016, and if they remain the same this year, the Shanghai Stock Exchange will suspend trading in the company's shares, it said.

The firm's former deputy general manager, Dong Ronghua, was put under investigation by China's graft-busting agency late last year for unspecified "serious disciplinary violations".

Source : Reuters Chongqing Steel warns of bankruptcy after creditor goes to court

Iron and Steel Company warned of the risk of bankruptcy on Tuesday, after one of its creditors submitted an application to a local court to reorganise its assets. Chongqing Steel said in a notice posted to the Hong Kong Stock Exchange that the creditor, identified as Chongqing Laiquyuan Trading, told a court on Monday that the southwest China-based steelmaker's assets were not sufficient to pay off all its debts. It said “If the court formally accepts the application for reorganization Chongqing Steel will be exposed to the risk of declaration of bankruptcy.”

The firm, which has blamed its predicament on China's economic downturn, industrial overcapacity, soaring labour costs and low steel prices, has tried to expand into more profitable sectors and ditch its steelmaking assets, which operate at a loss.

But it said last week that there was "great uncertainty" whether its restructuring plans could proceed, with the firm struggling to reach an agreement with its main creditors.

Chongqing Steel's audited net profits and assets were negative for both 2015 and 2016, and if they remain the same this year, the Shanghai Stock Exchange will suspend trading in the company's shares, it said.

The firm's former deputy general manager, Dong Ronghua, was put under investigation by China's graft-busting agency late last year for unspecified "serious disciplinary violations".

Source : Reuters

voda 26 april 2017 16:48

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Aluminium players to gain as China targets smelters

The Australian reported that the nation’s long-struggling aluminium sector and companies such as Rio Tinto, South32 and Alumina could be set for a boost as China sets its regulatory sights on overcapacity and emissions in its domestic sector, where new production has kept global aluminium prices low for the past 10 years.

If the Asian powerhouse is as serious about aluminium as it had been about steel and coal, where domestic restructuring boosted international prices, there could be a significant valuation increase on the way for Australian producers and operations.

China and its state media made recent announcements that aluminium would be targeted in a 2017 winter air pollution prevention plan and that China would crack down on illegal aluminium smelting capacity.

Domestic aluminium capacity, kept cheap in no small part by lax environmental controls, has kept a lid on aluminium prices since the global financial crisis.

According to Morgan Stanley, China’s aluminium industry is not profitable and contributes heavily to pollution, with 40 per cent of its costs being power and 90 per cent of that power coming from coal plants.

Morgan Stanley said in a report that “Given the central government’s main goals of pollution control and supply side reform, we expect production control in regions surrounding Beijing to be well executed and heavy industry capacities to be gradually shut down.”

The plan to curb production in four provinces that produce 38 per cent of China’s output has been bolstered by reports that there would be inspections of capacity built or under construction that do not have the necessary approvals, particularly in Xinjiang province.

Macquarie analysts say the crackdown on illegal smelting is likely to hold up standards that most of Australia’s existing aluminium smelters would not pass.

Macquarie said that “If this new notice can successfully restrict aluminium capacity additions in China, which we believe it will do given the central government seems highly focused on the issue of overcapacity, the global aluminium market will remain relatively tight until 2019.” So far this year, aluminium prices have rallied 14 per cent to a two-year high of USD 1933 a tonne.

Morgan Stanley says that outside China, a price of USD 2500 to USD 3000 a tonne is required for new capacity to be built.

The bank says that under these prices, South32 has a potential target price of USD 4, up from Morgan Stanley’s current target price of USD 3.30. Yesterday, South32 shares were unchanged at USD 2.78.

Morgan Stanley said that “The equity market’s cautious stance so far looks mainly to be due to the substantial earnings weakness since 2008 and scepticism around China’s execution of supply side reform. A similar trend was visible in global steel stocks until the second half of 2016, when it reversed (because of Chinese restructuring).”

Source : The Australian

voda 28 april 2017 16:08

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Rising wind power growth to be led by China over next 5 years - GWE

The Global Wind Energy Council said that China will lead growth in global wind power capacity of almost 65 percent over the next five years, with other Asian countries also developing more renewable energy.

The GWEC said that cumulative wind energy capacity was 487 gigawatts (GW) at the end of 2016, a 12.6 percent rise from the year before and should grow by almost 65 percent to 800 GW by the end of 2021.

While China will continue to lead the global market, other countries such as India, which set a record for new wind installations last year in an effort to meet ambitious government targets, will also play a part.

GWEC said that globally, wind power capacity installed in 2016 reached 54 GW, which should rise to 60 GW this year.

Source : Reuters

Bijlage:

voda 2 mei 2017 17:13

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China keurt combinatie Dow en DuPont goed

Wel voorwaarden gesteld aan samengaan.

(ABM FN-Dow Jones) Het Chinese ministerie van Handel heeft toestemming gegeven voor het samengaan van Dow Chemical en DuPont. Dit maakte DuPont dinsdagmiddag bekend.

Om definitief goedkeuring te krijgen, moeten de twee bedrijven nog wel aan enkele voorwaarden voldoen, waaronder verschillende desinvesteringen.

Met een fusie tussen beide chemiereuzen zal het grootste bedrijf ter wereld ontstaan op het vlak van gewasbescherming en zaden. Ook zal het nieuwe concern marktleider worden in de sector voor bepaalde petrochemische producten die onder meer worden gebruikt in verpakkingen en zelfklevende toepassingen.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 2 mei 2017 17:16

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China import of refine copper down by 28%

Reuters reported that China's imports of refined copper slumped by 28% year-on-year in the first quarter of 2017. Factoring in exports, now a regular feature of the country's trade picture, the slide in net metal imports was an even more dramatic 35%. The net draw on units from the rest of the world was 699,000 tonnes in the first three months of the year, a decline of 368,000 tonnes on the same period of 2016.

Look no further to understand why copper's early-year bull run to over USD 6,200-per tonne, basis three-month metal on the London Metal Exchange has stalled. The price is today trading around USD 5,720.

Even while production disruptions have accumulated, any impact on refined metal availability has been muted, witness the near 185,000-tonne build in global exchange stocks in the first quarter.

However, it's not as if China has lost its appetite for imported copper.

Source : Reuters

Bijlage:

voda 3 mei 2017 16:55

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HNA grootste aandeelhouder Deutsche Bank

Gepubliceerd op 3 mei 2017 om 11:36 | Views: 905

FRANKFURT (AFN) - Het Chinese conglomeraat HNA Group heeft zijn belang in Deutsche Bank vergroot naar bijna 10 procent. Dat bleek woensdag uit een melding bij de Duitse beurstoezichthouder. De Chinezen zijn daarmee de grootste aandeelhouder geworden van het Duitse financiële concern.

HNA meldde in februari voor het eerst een belang van 3 procent, en breidde dat een maand later uit naar een kleine 5 procent. Met de verdubbeling naar bijna 10 procent heeft de Chinese firma het Amerikaanse BlackRock afgelost als grootste aandeelhouder van Deutsche Bank.

voda 4 mei 2017 16:20

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Correctie: Chinese dienstensector onder druk - Caixin

Inkoopmanagersindex in april naar 51,5.

(ABM FN-Dow Jones) De bedrijvigheid in de Chinese dienstensector is in april in een lager tempo gegroeid. Dit bleek donderdag uit cijfers van Markit Economics en Caixin.

De inkoopmanagersindex daalde van 52,2 in maart naar 51,5 in april, de laagste stand sinds juni 2016.

"Het is de vierde achtereenvolgende daling voor deze index," aldus Zhengsheng Zhong, directeur macro-analyse van CEBM Group. "Inputkosten daalden, terwijl de deelindex voor nieuwe activiteiten slechts licht steeg", aldus de directeur, die beleggers maande tot voorzichtigheid.

De samengestelde inkoopmanagersindex, die bestaat uit zowel de industrie als de dienstensector, daalde van 52,1 in maart naar 51,2 in april.

Een indexstand van meer dan 50 geeft aan dat er sprake is van groei, terwijl een cijfer beneden de 50 wijst op krimp.

Correctie: om in eerste alinea aan te geven dat het om de dienstensector gaat.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 4 mei 2017 17:12

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Copper posts worst drop at LME in 19 months on China growth worries

Published on Thu, 04 May 2017

CNBC reported that copper prices dropped Wednesday the most in 19 months after a jump in inventories increased worries about an economic slowdown in China, the world's largest consumer of the metal. Copper futures for July delivery settled 3.49 percent lower at $2.5435 a pound, below their 50-day moving average for the first time since April 6 and their worst drop since September 2015. Prices of the metal continued falling in extended trade to near $2.53 a pound.

Ryan McKay, associate commodities strategist at TD Securities, said "I think the biggest thing is the worries about China. First we had a large build in LME copper stocks today adding concern to the already elevated inventory levels. Also manufacturing data from China this week has come in below expectations, raising concerns around Chinese demand."

Copper is a key material used in home construction, industrial manufacturing and consumer goods around the world. The Chinese government injected large amounts of loans last year in an attempt to prevent a sharp slowdown in the world's second largest economy. While recent economic reports have improved, the stimulus has also slowed.

Source : CNBC

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DeZwarteRidder 5 mei 2017 09:37

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Dit is gewoon een nieuwe truc om de eigen bedrijven te bevoordelen:
-------------------------------------------------------
China komt met veiligheidschecks technologie
Gisteren, 09:42

BEIJING - China lanceert op 1 juni nieuwe beveiligingsbeoordelingen bij binnen- en buitenlandse technologieleveranciers. Daarmee wordt een belangrijk deel van een nieuwe cyberbeveiligingswet geïmplementeerd die moet zorgen voor een strengere staatscontrole op technologie en informatie, meldt The Wall Street Journal.

De beoordeling gaat gelden voor ondernemingen die netwerkproducten en -diensten aanbieden. Het gaat hierbij vermoedelijk om onder meer Microsoft en IBM, die hardware en software verkopen in China.

Buitenlandse ondernemingen die hardware of diensten leveren aan Chinese bedrijven op het gebied van energie, transport en financiën en aan overheidsinstellingen en publieke diensten en andere belangrijke instellingen moeten hun producten en diensten opgeven om beoordeeld te worden. Die beoordeling wordt uitgevoerd door een nieuwe commissie die wordt beheerd door China’s internetregulator.

Kwetsbaar

De commissie kijkt onder meer naar hoe kwetsbaar het product is voor manipulatie. Ze mag producten weigeren op grond van ongespecificeerde risico’s voor de nationale veiligheid.

De maatregelen zijn weliswaar strenger dan de huidige werkwijze, maar ze zijn wel milder dan de conceptmaatregelen die in februari voor de industrie circuleerden. De nieuwe beveiligingsbeoordeling wordt bij wijze van proef geïmplementeerd, wat suggereert dat er nog aanpassingen kunnen gaan plaatsvinden.

DeZwarteRidder 5 mei 2017 12:33

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Enorme schaarste aan PIR (Polyisocyanuraat)

Door verschillende factoren is er in de totale markt enorme schaarste ontstaan in PIR. Één van de belangrijkste oorzaken is het tekort van het grondstof die nodig is om de schuimplaten te maken. Het gevolg hiervan zijn stijgende verkoopprijzen en langere levertijden van PIR.
Oorzaken schaarste aan PIR

De aanhoudende schaarste van PIR heeft diverse oorzaken:

Een van de hoofdgrondstoffen van PIR is moeilijk verkrijgbaar. Dit komt mede dankzij de grote vraag vanuit Azië.
Een aantal incidenten, waaronder explosies en een shutdown van Huntsman, zijn voorgevallen bij PIR-fabrieken
De bouw van twee grote MDI-fabrieken lopen enorme vertraging op

De schaarste heeft tot gevolg dat PIR-fabrikanten moeten kiezen uit de volgende opties:

Het werk neerleggen en wachten tot de prijs terugzakt
Doorgaan met produceren tegen hogere inkoopprijzen. Dit heeft echter tot gevolg dat de prijsstijging van de isolatieproducten zich door blijft zetten.

voda 9 mei 2017 16:51

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Copper hits four-month low as China imports slide

Reuters reported that copper slid to a four-month low on Monday after data showed a sharp drop in imports into China, the world's biggest consumer, feeding pessimism over demand following hefty inflows into London Metal Exchange inventories last week. Three-month copper on the London Metal Exchange closed 1.8 percent down at $5,486 a tonne, having earlier touched $5,462.50, its lowest since Jan. 4.

Copper inventories in London Metal Exchange (LME) warehouses dipped by 3,100 tonnes on Friday, exchange data showed, after surging by more than 100,000 tonnes in the previous three days.

China's April copper imports fell 30 percent month on month to 300,000 tonnes, data from the General Administration of Customs showed, and were down by a third from a year ago as a subdued outlook for industrial activity weighed on demand.

Source : Reuters

voda 9 mei 2017 16:52

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China committed to aluminium capacity cuts – Chalco

Aluminium Insider reported that Aluminum Corporation of China Limited told CRU’s 22nd World Aluminium Conference that the People’s Republic of China is determined to rein in aluminium production in over two dozen Chinese cities this winter. Chalco’s senior vice president Mr Lu Dongliang told the conference that Beijing is staying the course in compelling aluminium producers in 28 of its cities to reduce output by nearly one third over the winter heating season. The move could shave up to 1.5 million metric tons of output from the Middle Kingdom’s total output. He said that “This government is very determined in reforms and structural readjustment.”

He added that “I’m very confident that these (measures) will be implemented. Whether to 100 or 80 percent is still to be seen … But personally I’m very confident.”

The temporary cuts are planned for the months of November through February, when coal burning is at its height. Mr Lu explained that up to 12 million metric tons of capacity will be subject to cuts over those months, dropping the country’s total this year by up to four percent.

In addition to the seasonal curtailment, a separate campaign by the government to shut down illegal aluminium capacity should permanently ax between 3 million metric tons and 8 million metric tonnes of capacity, he said. Though it’s unknown how the crackdown will affect production, Mr Lu explained that it is likely to speed the migration of aluminium production from the populous east to the sparsely-settled west.

He explained that “We already have some enterprises thinking of a capacity swap … to transfer capacity to western China, where costs are cheaper. Whether this happens remains to be seen.”

Source : Aluminium Insider

voda 9 mei 2017 16:53

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Aluminum prices buck downtrend in base metals – Goldman

Aluminum, the best performing London Metal Exchange base metal so far this year held up very well this week despite a volatile week for the base metals complex. Aluminum prices have already ascended about 15% this year. On Friday, the metal was trading in the range of USD 1908 to USD 1922 and was resistant to a major sell-off that hit the base metals complex earlier in the week.

Base metals fell this week, while each of the metals had their market-specific reasons for the drive lower a big catalyst was some disappointing economic data for China. While this paints a downbeat picture for most base metals, upside expectations for aluminum remain.

Aluminum prices have been on the rebound after a price collapse that persisted through 2014 resulted in massive production cuts. While these production cuts have already boosted prices, Goldman Sachs sees more upside as it expects the Chinese government to implement supply-side reforms in the months ahead. China has pledged to cut capacity the output of various materials whose production contributed to pollution Aluminum is one of these materials

According to a research note from Goldman, aluminum prices will climb to USD 2,000 per metric ton in six months and USD 2,100 per ton in 12 months. “In our view, this strong performance has reflected an increase in the potential for aluminum to be the next target of supply-side reform in China, a tightening ex-China balance, and rising costs of production,” wrote the bank’s analysts.

Another potential upside for aluminum is the implementation of trade penalties on China. The US is currently investigating whether or not China is unfairly subsidizing some of its aluminum producers, allowing them to manufacture the metal at a price point that US producers can’t compete with.

Source : Economic Calendar

voda 10 mei 2017 16:34

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Inflatie China loopt op

Gepubliceerd op 10 mei 2017 om 06:35 | Views: 637

PEKING (AFN) - De consumentenprijzen in China lagen vorige maand 1,2 procent hoger dan een jaar eerder. Dat blijkt uit woensdag gepubliceerde cijfers.
De inflatie was daarmee in april sterker dan in de voorgaande maand, toen die nog uitkwam op 0,9 procent. Economen rekenden op een stijging tot 1,1 procent.

De producentenprijzen stegen in april met 6,4 procent op jaarbasis, tegen 7,6 procent in maart. Economen rekenden hier in doorsnee op 6,7 procent.

DeZwarteRidder 14 mei 2017 09:36

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China zegt opnieuw miljardeninvestering toe voor Nieuwe Zijderoute

Gepubliceerd: 14 mei 2017 09:18 Laatste update: 14 mei 2017 09:23

China steekt miljarden extra in het nieuwe zijderouteproject. In totaal zou het gaan om een kapitaalinjectie van 124 miljard dollar (ruim 113 miljard euro).

De Chinese president Xi Jinping zegt de investering zondag toe tijdens een topconferentie over het Chinese initiatief 'Gordel en Weg', beter bekend als de 'Nieuwe Zijderoute'. Vertegenwoordigers van tientallen landen zijn op de conferentie aanwezig.

Er wordt onder meer 100 miljard yuan (ruim 13 miljard euro) extra uitgetrokken voor het bestaande zijderoutefonds, 380 miljard yuan aan leningen voor verschillende Chinese banken die aan het project meewerken en 300 miljard yuan om financiële instellingen aan te moedigen hun activiteiten naar het buitenland uit te breiden.

Het plan voor de nieuwe zijderoute werd in 2013 opgetuigd. China wil de verbinding tussen Azië, Afrika en Europa verbeteren. Met het project gaan miljarden aan investeringen in de infrastructuur gepaard.

Westerse diplomaten uitten eerder hun ongemak over het plan van China, dat hiermee haar toegang tot de wereldhandel vergemakkelijkt. China blijft benadrukken dat iedereen kan meeprofiteren van de Nieuwe Zijderoute. Xi Jinping noemt het project "een pad voor vrede en welvaart voor de wereld". Chinese media spreken van 'een gift aan de wereld'.
Door: NU.nl/Reuters

AEX 921,92 -3,99 -0,43% 28 feb


Germany40^	22.555,90	+0,02%
BEL 20	4.420,51	-0,60%
Europe50^	5.455,27	-0,15%
US30^	43.818,00	0,00%
Nasd100^	20.879,40	0,00%
US500^	5.952,17	0,00%
Japan225^	37.585,40	0,00%
Gold spot	2.857,60	0,00%
EUR/USD	1,0375	0,00%
WTI	70,08	0,00%

Van Lanschot ...	+4,09%
ADYEN NV	+2,53%
HEIJMANS KON	+1,76%
ACOMO	+1,59%
DSM FIRMENICH AG	+1,48%

Kendrion	-5,98%
AMG Critical ...	-4,99%
AZERION	-4,20%
AALBERTS NV	-3,13%
ASML	-2,93%

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