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February 2nd, Futures News: As of 20:30 Beijing time, WTI crude oil futures fell 4.68%, and US natural gas futures fell 16.84%.New York gold futures were the first to rebound, rising above $4,800 per ounce.European mining stocks turned positive, erasing earlier losses.On February 2nd, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Shandong Province. He emphasized the need to thoroughly implement General Secretary Xi Jinpings important instructions on economic and social development this year and during the 15th Five-Year Plan period, adhering to a combination of short-term and long-term goals, ensuring a good start, proactively implementing various policies, and resolutely implementing all decisions and deployments of the CPC Central Committee to promote development, improve peoples livelihoods, and enhance long-term growth potential more solidly and effectively. Governments at all levels should, in accordance with the decisions and deployments of the CPC Central Committee, take proactive measures, leverage local advantages, strive to cultivate new growth points, and ensure that all work is implemented effectively as soon as possible. They should further strengthen their service awareness, continuously improve government efficiency, implement various policies benefiting enterprises, and address their concerns and demands. Focusing on promoting high-quality development, and in conjunction with the formulation and implementation of the 15th Five-Year Plan, they should deeply plan a number of major initiatives and projects, making greater progress in key areas such as developing new productive forces according to local conditions, strengthening the domestic economic cycle, and promoting employment and income growth for residents. Li Qiang stressed that local governments should adhere to the principle of seeking truth from facts and pay attention to systematic integration when formulating the 15th Five-Year Plan, especially the formulation of grassroots special plans, which should be concise and precise, avoiding excessive ambition.February 2nd - According to statistics from the Shenzhen Real Estate Intermediary Association, a total of 6,802 second-hand homes were sold in Shenzhen in January 2026, representing a 2.9% increase month-on-month and a significant 45.5% increase year-on-year, marking a new high in nearly 10 months. This marks the 11th consecutive month that sales have exceeded 5,000 units, indicating that the market has emerged from its trough, buyer confidence has significantly recovered, and a solid foundation has been laid for a subsequent "mini-boom" in the market.

Chinese Companies Want More Mining to Boost Supplies

Haiden Holmes

Nov 10, 2022 14:38

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China's top copper producers are urging the government to mine more of the metal locally and internationally, China Nonferrous Metals News said Wednesday.


Jiangxi Copper Co Ltd, Zijin Mining, Tongling Nonferrous Metals Group Co Ltd, and others urged authorities on Tuesday to start new mineral exploration and mine development.


Concerns are growing regarding the global supply of copper, which is utilized in transportation, construction, renewable energy, and electric cars.


Las Bambas copper mine in Peru, operated by Chinese miner MMG Ltd, has scaled down operations due to blockades by local organizations.


Chile's Codelco will extend smelter maintenance from 90 to 135 days.


China imports 25% of its copper needs.


At the meeting, Chinese corporations allegedly suggested mining companies should dig deeper and broader to lengthen mine life, while smelting companies should expedite foreign resource development and optimize their design across the industrial chain.


Chinese miners face growing competition for rare minerals elsewhere.


Canada ordered three Chinese corporations to withdraw from Canadian resources this week, citing security concerns.


China imported 23.40 million tons of copper ore and concentrate last year.