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China sees further slowdown in 10 nonferrous metal output

Aug. 20, 2012 (China Knowledge) - The combined output of the ten nonferrous metals rose 4.1% YoY last month, decelerating from a 9.8% growth in the same month of 2011, according to the latest statistics released by the National Development and Reform Commission.

In the first seven months, the country's ten nonferrous metal output amounted to 20.87 million metric tons, up 6.7% YoY. The growth rate was 3.2 percentage points lower than that in the corresponding period of last year.
The output of aluminum electrolytic rose 9.9% YoY to 11.30 million metric tons in the first seven months, after rising only 6.8% in the same period of 2011. The output of copper and alumina continue to see slower growth of 9.2% and 10.3%, respectively.

The output of lead rose 8.9% YoY in the period, after increasing 20% in the first seven months of 2011. The output of zinc saw decline of 6.6% YoY, after recording YoY growth of 6.7% in the same period of last year.

In July, the prices of major nonferrous metals experienced downward trend compared with June. The average prices of aluminum electrolytic and zinc futures on the Shanghai Futures Exchange stood at RMB 15,569 and RMB 14,586 per metric ton, down 2.4% and 1.3% from the previous month, or down 9.7% and 15.9% YoY, respectively. The average price of copper was RMB 55,437 per metric ton, down 20% YoY.

In the first six months, the nonferrous metal industry realized RMB 86.5 billion in profit, reflecting a decline of 13.9% YoY. The profit of nonferrous metal mining and dressing sector rose1.2% YoY to RMB 33.8 billion, while that of the nonferrous metal smelting and processing sector fell 21.4% to RMB 52.8 billion.

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