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China's 10 nonferrous metal output up 6.7% in H1

Jul. 25, 2012 (China Knowledge) - The combined output of the ten nonferrous metals rose 6.7% YoY to 17.69 million metric tons in the first half of this year, slowing from a 9.8% growth in the same period of 2011, according to the latest statistics released by the National Development and Reform Commission.
The output of aluminum electrolytic rose 9.7% YoY to 9.51 million metric tons in the first six months, after rising only 5.6% in the same period of 2011. The output of copper and alumina saw slower growth of 10.3% and 9.7%, respectively.

The output of lead rose 8.9% YoY, slowing from a 25 growth in H1 of 2011. However, the output of zinc fell 6.2% in the first six months, compared with a 6.1% increase in the same period of last year.

In June, the average prices of major nonferrous metals saw decreases compared with the previous month. The average prices of copper, aluminum electrolytic and zinc futures on the Shanghai Futures Exchange stood at RMB 55,423, RMB15,960 and RMB 14,772 per metric ton, down 3.8%, 0.5% and 3.3% from the previous month, or down 18.7%, 4.9% and 12.6% YoY, respectively.

In the first five months, the nonferrous metal industry realized RMB 68.7 billion in profit, reflecting a decline of 11.7% YoY. The profit of nonferrous metal mining and dressing sector rose 3.7% YoY to RMB 26.9 billion, while that of the nonferrous metal smelting and processing sector fell 19.3% to RMB 41.8 billion.

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