South China Largest Copper-Sulfur Beneficiation Plant Put into Production in Guangdong

Gold Rebounds as Market Digests Trump’s Tax Plan.

Gold prices rebounded from two-week lows in after-hours trading Wednesday, following President Donald Trump’s proposal to slash tax rates for businesses and on overseas corporate profits. Trump’s tax plan proposes to cut the income tax rate paid by public corporations to 15% from 35% and slash the top tax rate assessed on passthrough businesses to 15% from 39.6%, according to the White House.

Analysts expressed serious concern over how this proposal might actually get passed. “This plan looks rich at first take in terms of the costs in revenues, and fiscal hawks in Congress might not fully buy into the claim that accelerated growth will ‘pay’ for the cut, particularly in a U.S. economy already closing in on the limits of full employment,” CIBC World Markets economists Avery Shenfeld and Nick Exarhos said in a research note. “Passing something close to this package will be a challenge.”

South China Largest Copper-Sulfur Beneficiation Plant Put into Production in Guangdong.

The largest copper-sulfur recycling project in South China was put into production April 26 in Shaoguan City, Guangdong Province, Southern Daily reported. The Dabaoshan copper-sulfur beneficiation plant has daily designed capacity of 7,000 tonnes of raw ore. Maximum daily ore processing capacity reaches 10,000 tonnes. It produces 10,000 tonnes of copper, and a combined 1.10 million tonnes of sulfur concentrate and magnetic sulfur iron ore per year. It also recycles by-product ores and associated resources.

Oil prices fall on lingering oversupply concerns.

Oil prices dipped on Thursday, weighed down by a general sentiment of globally bloated markets, though traders said that prices seemed to have found support around current levels. Traders said that the falls in recent weeks were a result of a realization that global oil markets remained oversupplied, despite efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 1.8 million barrels per day (bpd) during the first half of the year in order to tighten the market and prop up prices. is clear that the world has plenty of oil in stock, making OPEC's life that much harder ahead of its June production cut rollover date," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. While the United States reported a drop in its commercial crude oil stocks on Wednesday, albeit from nearrecord highs, its gasoline inventories surged as refiners produced more fuel than the market could consume. With an expectation that OPEC would lobby for an extension of the production cuts to cover all of 2017, analysts said there was support for prices around current levels.

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