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China’s aluminium industry is increasing its decarbonization efforts by reducing its reliance on traditional thermal power while adding more green energy from hydro sources. Data show that hydropower was responsible for 10% of the total power source in 2015 but that this figure has risen more recently to 19%.

Meanwhile, China’s Zijin Mining Group is investing US$ 2.43 billion in expanding the Julong Copper project in Tibet, with expectations of an annual copper output of 300,000 to 350,000 tons.

Tight aluminium scrap supplies from domestic sources have been supporting the ADC12 ingot sales price, with profit margins also narrowing in recent weeks. Thanks to healthy demand, meanwhile, tellurium and vanadium pentoxide and also vanadium nitrogen values have been increasing while the stainless market is rather soft.

China’s Premier Li Qiang has announced a 5% growth goal for 2024, a figure which is below the 5.2% GDP growth in 2023. Although there is no large stimulus package to boost the market, long-term economic growth will be assisted by a one trillion Yuan (US$ 139 billion) bond issue over the next few years to implement major national strategies.