Chinese Materials Price disconnect

Zijin Mining Group

Market Cap: CN¥745.0b

Engages in exploration and extraction of metals in Mainland China and internationally.

Shandong Hongqiao Aluminum Industry Holding

Market Cap: CN¥243.2b

Engages in the research, development, production, and sale of aluminum products in China and internationally.

Qinghai Salt Lake IndustryLtd

Market Cap: CN¥133.7b

Manufactures and sells potash fertilizers in China and internationally.

Zhejiang Juhua

Market Cap: CN¥113.9b

Engages in the research, development, production, and sale of chemical raw materials and products in China, the United Arab Emirates, and Hong Kong.

Rongsheng Petrochemical

Market Cap: CN¥106.3b

Engages in the research, development, production, and sale of chemical, oil, and polyester products in China.

Shandong Gold Mining

Market Cap: CN¥104.5b

Engages in mining, smelting, processing, and precious metals in the People’s Republic of China.

Zhongjin GoldLtd

Market Cap: CN¥97.5b

Engages in exploration, mining, beneficiation, and smelting of gold and other non-ferrous metals in China.

Xiamen TungstenLtd

Market Cap: CN¥92.2b

Engages in the sale of tungsten, molybdenum, rare earth, battery materials, and other industrial products in China.

Yunnan Aluminium

Market Cap: CN¥90.5b

Produces and sells aluminum primarily in China.

Western MiningLtd

Market Cap: CN¥79.1b

Engages in the mining, beneficiation, smelting, and trading of metals in Mainland China and internationally.

Chifeng Jilong Gold Mining Group

Market Cap: CN¥60.7b

Engages in the exploration, mining, beneficiation, and sale of gold in China, Southeast Asia, and West Africa.

Tianshan Aluminum GroupLtd

Market Cap: CN¥58.5b

Produces and sells primary aluminum, prebaked anodes, high-purity aluminum, alumina, and aluminum foil products in China and internationally.

Henan Shenhuo Coal Industry and Electricity Power

Market Cap: CN¥57.0b

Henan Shenhuo Coal Industry and Electricity Power Co.

Inner Mongolia Xingye Silver & Tin Mining

Market Cap: CN¥54.3b

Engages in the mining and beneficiation of non-ferrous and precious metals in China, Hong Kong, and Mongolia.

Shanjin International Gold

Market Cap: CN¥53.6b

Explores for, mines, and trades in precious and non-ferrous metal ores in China.

Shandong Hualu-Hengsheng Chemical

Market Cap: CN¥52.3b

Shandong Hualu-Hengsheng Chemical Co., Ltd.

Shanghai Putailai New Energy Technology GroupLtd

Market Cap: CN¥49.2b

Engages in the development and sale of materials of lithium-ion batteries and automation equipment in China and internationally.

JCHX Mining ManagementLtd

Market Cap: CN¥40.2b

Engages in mining services and resource development in the People’s Republic of China, Africa, Europe, South America, Central Asia, Southeast Asia, Australia and internationally.

Zhejiang Sanmei Chemical IndustryLtd

Market Cap: CN¥39.1b

Engages in the research, development, production, and sales of fluorine chemical products in China and internationally.

Shandong Sunpaper

Market Cap: CN¥39.0b

Produces and sells paper products in China and internationally.

Asia-potash International Investment (Guangzhou)Co.Ltd

Market Cap: CN¥38.4b

Engages in the processing, production, sale, and marketing of potash fertilizers in China and internationally.

ShenZhen YUTO Packaging Technology

Market Cap: CN¥36.4b

Provides packaging solutions in China and internationally.

Sinomine Resource Group

Market Cap: CN¥35.6b

Engages in the development and utilization of lithium-ion battery raw materials in China and internationally.

Nanjing Iron & Steel

Market Cap: CN¥29.3b

Produces and sells steel and related products in China and internationally.

Guangxi Huaxi Nonferrous MetalLtd

Market Cap: CN¥27.2b

Engages in the exploration, mining, beneficiation, and engineering supervision of non-ferrous metals in China.

Henan Zhongfu IndustrialLtd

Market Cap: CN¥25.9b

Processes, manufactures, and sells electrolytic aluminum and aluminum products in China.

Yongxing Special Materials TechnologyLtd

Market Cap: CN¥23.8b

Engages in the development, production, and sale of stainless steel rods and wires, special alloy materials, and lithium battery materials in China and internationally.

Sichuan Yahua Industrial Group

Market Cap: CN¥20.7b

Engages in lithium and civil explosive businesses in China and internationally.

Qingdao East Steel Tower StockLtd

Market Cap: CN¥20.4b

Manufactures and markets steel structure products in the People’s Republic of China.

Jiangsu Dingsheng New Materials Ltd

Market Cap: CN¥19.4b

Engages in research and development, production, and sale of aluminum plates and foils.

Shandong Weifang Rainbow Chemical

Market Cap: CN¥17.9b

Operates as a crop protection company in China.

Sichuan Gold

Market Cap: CN¥14.9b

Engages in the gold mining business.

Xinxing Ductile Iron Pipes

Market Cap: CN¥14.6b

Provides cast iron pipes and steel in China and internationally.

Shengda ResourcesLtd

Market Cap: CN¥14.3b

Through its subsidiaries, engages in the mining, beneficiation, and sale of precious and non-ferrous metal ores in China.

JiaoZuo WanFang Aluminum Manufacturing

Market Cap: CN¥12.9b

Engages in the smelting and processing of aluminum products in China.

Zhejiang Runtu

Market Cap: CN¥12.5b

Engages in the production and sale of dyes in China.