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Terence Bell

Ministry Proposes More Mergers in Key Industries:

China's Ministry of Industry and Information Technology announced on Tuesday that will target nine key sectors for further consolidation.

The industries targeted include steel, automotive, cement, shipbuilding, electrolytic aluminum, rare earths, electronic and information, pharmaceutical, and industrialized agriculture.

The goal is 'to become more competitive overseas', as well as 'to cut price competition and surplus production, and the duplication of research and development' (quote from China Daily print edition).

Link: http://usa.chinadaily.com.cn/business/2013-01/23/content_16160694.htm

Terence Bell

Financial Times (June 5, 2013) - On Wednesday, Chalco, the Chinese state aluminium giant that is one of the world’s top producers of the metal, announced that it planned to close down temporarily 380,000 tonnes of production capacity – or a tenth of its total output.

According to one trader, the China Non-Ferrous Metals Industry Association last week organised a meeting of major smelters in Beijing with the objective of reaching a collective agreement to curtail production, leading Chinese traders to expect higher prices.

Link: http://www.ft.com/intl/cms/s/0/f82cdad4-ce00-11e2-a13e-00144feab7de.html#axzz2VaUo40un

Terence Bell

Mineweb (July 24, 2013) - To tackle overcapacity, China sets stricter aluminium rules. In a bid to push companies to restructure and merge in order to tackle over capacity, China rolled out stricter controls for its aluminium sector on Wednesday.

Link: http://www.mineweb.com/mineweb/content/en/mineweb-base-metals?oid=198578&sn=Detail

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