
Shanghai metals rise after China vows to shore up industrial growth
China will roll out action plans to stabilise growth in these industrial sectors, Tao Qing, an official from the ministry, said on Friday.
The move is designed to "improve premium supply capacity" to set up the industry for an effective upgrade in quality terms and reasonable growth as measured by quantities, while promoting an "orderly exit of outdated production capacity", Tao added.
SHFE zinc gained the most, rising 2.69 per cent to 22,900 yuan (US$3,190.48) a ton as of 0102 GMT. Earlier, the contract hit 22,915 yuan, the highest since May 14.
SHFE nickel added 1.25 per cent to 121,750 yuan, aluminium gained 1.17 per cent to 20,745 yuan, lead grew 1.04 per cent to 16,990 yuan, copper rose 0.87 per cent to 78,990 yuan and tin advanced 0.56 per cent to 265,390 yuan.
"What China's industrial ministry said has been encouraging for metals in general," a Beijing-based metals analyst at a futures company said, adding, "Industrial sectors are all very relevant to metals."
In addition to the downstream industries, the action plan will cover 10 key industries, including steel, nonferrous metals, petrochemicals and construction materials, the ministry noted.
"Metals in general have responded positively to the news, and whichever with more room for price growths will strengthen more remarkably," a Shanghai-based metals analyst at a futures company said.
On Monday, LME metals fluctuated narrowly, after Friday's surge, with zinc up 0.5 per cent to US$2,832.5 per ton. Earlier in the session, it touched US$2,837, the highest since April 1.
LME aluminium rose 0.15 per cent to US$2,633.5, lead gained 0.13 per cent to US$33,490, nickel added 0.11 per cent to US$15,235, while lead eased 0.1 per cent to US$2,008. Copper traded flat at US$9,776.5 after touching US$9,777 on Friday, the highest since July 8.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Express
3 hours ago
- Daily Express
Preserving habitat around mantanani
Published on: Saturday, July 26, 2025 Published on: Sat, Jul 26, 2025 By: Hayati Dzulkifli Text Size: Dr Kasim (3rd left) and Johnny (2nd right) showing the signed MoU documents while two researchers and another look on in the event at UMS, recently. Kota Kinabalu: Universiti Malaysia Sabah (UMS) and a Sabah-based JSK Mantanani Island Resorts Sdn. Bhd. signed a Memorandum of Understanding (MoU) to collaborate in marine biodiversity research, education in and around Mantanani Islands, off Kota Belud. The partnership marks a significant milestone in a journey that began in 2023, when the company took bold steps to address the ongoing poaching of nesting sea turtles on the island. Driven by concern over declining turtle numbers, the company sought technical guidance from UMS through its Borneo Marine Research Institute (IPMB) for an integrated conservation programme. Managing Director Datuk Johnny Wong Chen Yee said the company island resort is not just about providing a memorable escape but deeply rooted in sustainable tourism and responsible stewardship of the environment. He said Mantanani, a jewel in the crown of Sabah's Marine biodiversity is one of Malaysia's most breath-taking natural treasures. 'However, as we all know, these precious ecosystems are facing unprecedented challenges — Climate change, unsustainable practices and pollution. 'We must actively participate in their preservation and restoration. 'Through this partnership, JSK Mantanani Island Resort and UMS will embark on a collaborative journey focused on two critical areas: Marine Life and Habitat Restoration,' he said at the signing. Johnny represented JSK Mantanani Island Resort Sdn Bhd while UMS Vice Chancellor Prof. Datuk Dr Kasim Mansor for UMS at Chancellory building recently. Johnny said as Sabah continues to position itself as a global eco-tourism hub, such partnership is vital in ensuring marine biodiversity thrives in tandem with responsible development. The collaborative initiatives will encompass a range of vital activities, including: Seagrass restoration: Rejuvenating these crucial underwater meadows that serve as nurseries for countless species and act as significant carbon sinks. Sea turtle conservation: Protecting these magnificent creatures through monitoring nesting sites, rescuing injured turtles, and raising awareness about their plight. Coral reef rehabilitation: Working together to propagate and transplant corals, restoring the vibrant underwater gardens that are vital to marine life. Research and monitoring of marine biodiversity: Understanding the health of our marine ecosystems to inform effective conservation strategies. Community engagement: Empowering local communities with the knowledge and tools to become stewards of their own environment. Educational programs for their guests and the public: Raising awareness about the importance of marine conservation and inspiring action. 'We will soon launch a dedicated Wildlife Gallery at the resort, exhibiting educational specimens provided by the Sabah Wildlife Department. 'We are also proud to share that our turtle hatchery centre can hold up to 1,000 eggs – a vital step in protecting and increasing the local turtle population,' he said. Johnny said with support and advice from UMS marine scientists, his company obtained formal approval from the Sabah Wildlife Department to launch a turtle conservation initiative He said several JSK staff members were trained and appointed as Honorary Wildlife Rangers, enabling legal authorities to monitor beaches, relocate turtle nests, and manage the JSK Turtle Hatchery. 'This initiative bore fruit quickly, where two green turtle (Chelonia mydas) nests have been protected to date, achieving a hatching success rate of over 90 per cent. 'Protecting Mantanani's natural heritage is core to our values. With UMS as our scientific partner, we can ensure that our efforts are effective, sustainable, and backed by solid data,' he said. Prof. Datuk Dr Kasim said the partnership is more than conservation, it's about building a resilient, informed, and science-driven approach to marine stewardship. 'We're proud to support JSK in becoming a model for private sector-driven conservation,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

Malay Mail
3 hours ago
- Malay Mail
China premier: AI is a ‘tiger cub' that needs taming before it turns on us
SHANGHAI, July 26 — China's Premier Li Qiang warned today that artificial intelligence development must be weighed against the security risks, saying global consensus was urgently needed even as the tech race between Beijing and Washington shows no sign of abating. His remarks came just days after US President Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the fast-moving field, promising to 'remove red tape and onerous regulation' that could hinder private sector AI development. Opening the World AI Conference (WAIC) in Shanghai today, Li emphasised the need for governance and open-source development, announcing the establishment of a Chinese-led body for international AI cooperation. 'The risks and challenges brought by artificial intelligence have drawn widespread attention... How to find a balance between development and security urgently requires further consensus from the entire society,' the premier said. Li said China would 'actively promote' the development of open-source AI, adding Beijing was willing to share advances with other countries, particularly developing ones. 'If we engage in technological monopolies, controls and blockage, artificial intelligence will become the preserve of a few countries and a few enterprises,' he said. 'Only by adhering to openness, sharing and fairness in access to intelligence can more countries and groups benefit from (AI).' The premier highlighted 'insufficient supply of computing power and chips' as a bottleneck. Washington has expanded its efforts in recent years to curb exports of state-of-the-art chips to China, concerned that these can be used to advance Beijing's military systems and erode US tech dominance. For its part, China has made AI a pillar of its plans for technological self-reliance, with the government pledging a raft of measures to boost the sector. In January, Chinese startup DeepSeek unveiled an AI model that performed as well as top US systems despite using less powerful chips. 'Pet tiger cub' At a time when AI is being integrated across virtually all industries, its uses have raised major ethical questions, from the spread of misinformation to its impact on employment, or the potential loss of technological control. In a speech at WAIC today, Nobel Prize-winning physicist Geoffrey Hinton compared the situation to keeping 'a very cute tiger cub as a pet'. 'To survive', he said, you need to ensure you can train it not to kill you when it grows up. In a video message played at the WAIC opening ceremony, UN Secretary-General Antonio Guterres said AI governance would be 'a defining test of international cooperation'. The ceremony also saw the French president's AI envoy, Anne Bouverot, underscore the 'an urgent need' for global action. At an AI summit in Paris in February, 58 countries including China, France and India — as well as the European Union and African Union Commission — called for enhanced coordination on AI governance. But the United States warned against 'excessive regulation', and alongside the United Kingdom, refused to sign the summit's appeal for an 'open', 'inclusive' and 'ethical' AI. — AFP


The Star
3 hours ago
- The Star
Economists doubt Trump outlook that US will sell 'so much' beef to Australia
WASHINGTON/CANBERRA/CHICAGO: President Donald Trump said the US will sell "so much" beef to Australia after Canberra relaxed import restrictions on Thursday(July 24), but economists and traders said high prices and tight supplies make major American exports unlikely. Australia said it would loosen biosecurity rules for US beef. The move will not significantly increase US shipments, though, because Australia is a major beef producer and exporter whose prices are much lower, analysts said. US companies export small quantities of beef to Australian buyers. They import much more in the form of lean beef used to make hamburgers, particularly as US production has declined because of tight cattle supplies. US beef prices set records this year after ranchers slashed their herds due to drought that burned up pasturelands used for grazing. The total herd size fell to 94.2 million head as of July 1, a record low for that date, according to US Department of Agriculture data on Friday. A ban on cattle imports from Mexico because of New World screwworm, a devastating livestock pest, and steep tariffs on Brazilian beef that are set to take effect on Aug. 1 could further tighten meat supplies, and require additional imports of Australian beef. "We can't get enough beef in the US right now, so we're bringing it in from Australia and Brazil," said Dan Norcini, an independent US livestock trader. "We're not going to be selling anything significant to anyone." Last year, Australia shipped almost 400,000 metric tonnes of beef worth US$2.9 billion to the United States, with just 269 tonnes of US product moving the other way. "They have more cattle than people," said David Anderson, an agricultural economist at Texas A&M University. "That's why they export so much." US and Australian beef also taste different. Many Australians like the grass-fed beef raised there, not marbled beef from US-raised cattle that are generally fed with grain, said Jerry Klassen, chief analyst for Resilient Capital in Winnipeg. He predicted the United States will not export substantial amounts of beef to Australia in the next five years. "We just aren't in a position to export much beef to anyone, and the reality is Australia doesn't really have much need for US beef," said Karl Setzer, partner at Consus Ag. The barriers that remain to exporting significant volumes of US beef to Australia appeared to be lost on Trump this week. "We are going to sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World," Trump said in a post on Truth Social. "The other Countries that refuse our magnificent Beef are ON NOTICE." Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States, a characterisation many economists dispute. "For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers." Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices. Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy, or mad cow disease. Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico. The US sources some of its feeder cattle from the two neighbouring countries. On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States. The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector. "We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement. Australia faces a 10 per cent across-the-board US tariff, as well 50 per cent tariffs on steel and aluminium. Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals. Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure." "We haven't done this in order to entice the Americans into a trade agreement," he said. "We think that they should do that anyway." - Reuters