Swapping aluminum for copper will maintain China’s resources, group says
me-metals: Promoting the use of aluminum to save copper would be conducive to maintaining the security of China’s copper resource, the head of the country’s base metals smelting industry group said on Wednesday.
According to me-metals cited from mining.com, China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources and finding ways to use more aluminum would save money and provide more security for the smelting industry, said Ge Honglin, chairman of the China Nonferrous Metals Industry Association (CNIA), at the Asia Copper Week conference.
“In terms of resources, copper is more precious and scarce compared to aluminum,” Ge said.
“The price of copper is 77,000 yuan ($10,666) a ton and the price of aluminum is 21,000 yuan, so using aluminum instead of copper already presents economic advantages,” Ge said.
In his speech, Ge emphasized the need for mergers and the reorganization of copper refining capacity in China, the world’s biggest consumer of the red metal used in electronics.
($1 = 7.2189 Chinese yuan renminbi)
source: mining.com
Related News
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
