Chinese steel, aluminium, zinc and rare earths stocks make large gains
Steel maker stocks rose on expectations that lower iron-ore prices would help cut costs and boost profits.
Gansu Jiu Steel Group Hongxing Iron and Steel Co.（SH:600307）surged to the 10 percent trading cap early in the morning.
Nanchang Changli Iron & Steel Co.（SH:600507）also surged 10 percent.
Baoshan Iron & Steel Co.（SH:600019), China’s largest steel maker, advanced 4.69 percent.
Maanshan Iron and Steel Company Limited（SH:600808;HK:0323）added 1.74 percent on Shanghai and 2.32 percent on Hong Kong.
Chongqing Iron & Steel Company Limited（HK:1053）rose 3.71percent.
Aluminum Corporation of China Limited（SH:601600;HK:2600), the nation’s largest producer of the metal, surged as much as 10 percent in the afternoon and closed at a price 7.56 percent higher than yesterday.
Other aluminum producers also added over 5 percent, such as Shanxi Guanlu Co. Ltd.（SZ:000831), Jiangsu Alcha Aluminum Co., Ltd.（SZ:002160), Yunnan Aluminium Co.,Ltd.（SZ:000807）and Xinjiang Joinworld Co., Ltd.（SH:600888）.
Hunan zhuye torch metals Co.,Ltd.（SH:600961), China’s largest zinc producer, surged to the 10 percent trading limit. Yunnan Luoping Zinc and Electricity Co.,Ltd.（SZ:002114）advanced 7.73 percent.
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co.,Ltd.（SH:600111）gained 4。81 percent. China Rare Earth Holdings Ltd.（HK:0769）soared 22.86 percent.
Sinocop Resources (Holdings) Ltd. （HK:0476）soared 21.57 percent. Zhejiang Hailiang Co.,Ltd.（SZ:002203）surged to its second 10 percent cap in a row after gaining approval to open a copper factory in Vietnam.
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