China Foundry Association Meet with Foundry-Planet during GIFA 2023

On August 16, 2024, the 8th Meeting of BRICS Ministers of Industry was held in Nizhny Novgorod, Russia. The theme of the conference is "Strengthening multilateralism for Equitable Global Development and Security". Vice Minister of Industry and Information Technology Xin Guobin led a delegation to attend the meeting and delivered a speech. Xin Guobin said that as an important emerging market in the world, the expanded BRICS countries will surely play a more important role in maintaining the global economic order and the security and stability of the industrial chain and supply chain. The new round of technological revolution and industrial transformation has brought new opportunities for industrial transformation and upgrading in all countries. China is ready to work with our BRICS partners to deepen practical cooperation, seize opportunities, meet ...

In 2023, the stocks of non-ferrous metals from the Russian Federation on the London Metal Exchange (LME) increased significantly. It is worth noting that traders primarily engage in trading through the LME, while large metallurgical companies typically sell their products to end consumers under long-term contracts. As of the end of 2023, Russian metals accounted for a significant portion of the metals held in the warehouses of the London Stock Exchange. According to recent data, a significant portion of global stocks in the metals market are held in Russian volumes, with 90% of aluminium, 43% of copper, and 31% of nickel stocks being accounted for. It is worth noting that the stock of aluminium saw a sharp increase, doubling from 169 thousand tonnes to 338 thousand tonnes in December 2023. This sudden jump occurred after the UK implemented a ban on trading in Ru...

Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were invited to become new BRICS members. The decision was announced at a special news conference during the 15th BRICS Summit in Johannesburg, South Africa. The membership takes effect on Jan 1,2024. Speaking at the news conference, Xi said the expansion of the grouping — whose current members are Brazil, Russia, India, China and South Africa — speaks volumes for BRICS' resolve to bolster solidarity and cooperation with other developing nations. The expansion marks a new starting point for BRICS cooperation, Xi said, adding that it will inject new vitality into the mechanism of BRICS cooperation and further strengthen the forces of global peace and development.the expansion of the group will enhance the representation of BRICS in the Middle East and&...