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China's 10 nonferrous metal output up 2.3% in Apr

May. 23, 2012 (China Knowledge) - The combined output of the ten nonferrous metals rose 2.3% YoY last month, slowing from a 11.6% growth in the same month of 2011, according to the latest statistics released by the National Development and Reform Commission.

In the first four months, the country's ten nonferrous metal output amounted to 11.23 million metric tons, up 4.6% YoY. The growth rate was 5 percentage points lower than that in the corresponding period of last year.

The output of aluminum electrolytic rose 10.7% YoY to 6.1 million metric tons in the first four months, after rising only 2.7% in the same period of 2011. The output of copper and alumina continue to see slower growth of 8.1% and 7.7%, respectively.

The output of lead and zinc saw decline of 8.8% and 7.3% YoY in the period, after recording Y-o-Y growth of 33% and 9.2% in the first four months of 2011.
In April, the prices of major nonferrous metals saw decreases compared with March. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 59,294 and RMB 15,407 per metric ton, down 0.6% and 1.4% from the previous month, or down 16.8% and 14.8% YoY, respectively. The average price of aluminum electrolytic was steady at RMB15,997 per metric ton compared with March, but down 3.3% YoY.

In the first quarter, the nonferrous metal industry realized RMB 39.9 billion in profit, reflecting a decline of 3.1% YoY. The profit of nonferrous metal mining and dressing sector rose 16.5% YoY to RMB 15.4 billion, while that of the nonferrous metal smelting and processing sector fell 12.4% to RMB 24.5 billion.

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