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Copper price snaps back as China imports soar 81%

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.

The sharp decline, said the Mongolian Customs General Administration, is largely due to the COVID-19 pandemic.

More than 100 officials in Gansu province were held accountable three years ago for illegal coal mining on the northern slope of the Qilian Mountains on the Gansu-Qinghai border.

A total of 3.43 billion kWh of electricity or a third of the overall transmission volume was mainly generated by wind and solar power, the center added.

They come from coal, iron ore, nickel ore and grain exporters, such as Australia, Indonesia and the Philippines.