China To Announce Stimulus Plan For Metals Industry Wed

HANGHAI, Feb 24, 2009 (Dow Jones Commodities News via Comtex) -- China may announce a stimulus plan for its metals industry today, Shanghai Securities News reported Wednesday, citing industry sources it didn't identify. The plan will detail a major consolidation for metals companies and an adjustment on import and export tariffs on the products, the report said. The government will support and encourage consolidation among big metals companies - Aluminum Corp. of China, or Chinalco, China Nonferrous Metal Mining Group, and China Minmetals Corp. will become major beneficiaries of the government's support, the report said. -Yue Li contributed to this story, Dow Jones Newswires; (8621) 6120 1200; yue.li@dowjones.com (END) Dow Jones Newswires