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&...

To meet the carbon goal and with the rapid development of new energy vehicles, "giga diecasting" industry has ushered in the best era, and lightweight casting has become the trend. In order to support the sustainable development of China's die-casting and lightweight casting industry, the "4th Diecasting CEO Summit & High-level Forum for Lightweight Nonferrous Casting to held in November", organized by China Foundry Association, will be held from November 23-26 in Zhuhai, Guangdong-the forefront of reform and opening up. It will be a perfect platform to share development achievements, promote application, and look forward to directions.   Since 2016, the summit has been successfully held for three sessions, with nearly 800 attendees of each session and executives participants accounting for about 70%, which truly creating a high-end and highly inf...

Foundry Industry Development Summit and 2023 China Automotive Casting Lightweight Forum: The forum invited senior specialists, academic experts, and industry elites from the casting industry, upstream and downstream industries, especially the automotive industry, to gather in Shenyang. It focuses on the hot spots in the new development stage of the automotive industry, new energy and lightweight technologies that have brought significant impacts on the automotive casting industry, and sharing the latest automotive casting technology, planning for medium and long-term development, and discussing about the future development of automobile castings. Highlights of the reports: Lu Baosheng, Senior Director of the Product Technology Department of FAW Foundry, made a report on the development of thin-w...

With the implementation of the strategy of accelerating the construction of a "manufacturing powerhouse" and carrying the expectation of "high-quality development" in the manufacturing industry, 2023 China (Shenyang) International Foundry and Thermal Processing Exhibition (Metal Shenyang) kicked off jointly with the 21st China International Equipment Manufacturing Expo on September 1. The total exhibition area is 110000 square meters, with 11 exhibition areas and over 1000 exhibitors. As an important part of the Manufacturing Expo, the Metal Shenyang 2023 focuses on the latest casting technology and application, and nearly 200 exhibitors bring their flagship products, equipment and solutions to the exhibition. Dalian Huarui’s 55t wind power casting (bearing seat) High Quality Machine Tool Casti...

Xi hails 'brotherly sentiments' shared by the two nations amid changing international landscape President Xi Jinping has called for China and South Africa to be pacesetters for solidarity and cooperation, inheritors of China-Africa friendship and champions of common interests, saying that the countries' ties have gone beyond the bilateral scope and carry increasingly important global influence. Xi made the remarks in an article that he wrote for South African media, which was published on Monday, as he started a state visit to the nation and is due to attend the 15th BRICS Summit to be held in Johannesburg from Tuesday to Thursday. While commending China-South Africa ties, Xi also expressed China's readiness to work with its BRICS partners — Brazil, Russia, India and South Africa — to act on the BRICS spirit of openness, inclusivenes...