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China's 10 nonferrous metal output up 8.9% in Aug

Sep. 21, 2012 (China Knowledge) - The combined output of the 10 nonferrous metals rose 8.9% YoY last month, according to the latest statistics released by the National Development and Reform Commission.

In the first eight months, the country's ten nonferrous metal output amounted to 24.16 million metric tons, up 7% YoY. The growth rate was 4 percentage points lower than that in the corresponding period of last year.

The output of aluminum electrolytic rose 10.6% YoY to 13.1 million metric tons in the first eight months. The output of copper and alumina continue to see slower growth of 7.2% and 10.5%, respectively.

The output of lead also rose further to 9.6% YoY in the period, after increasing 17.5% in the first eight months of 2011. The output of zinc saw decline of 5.7% YoY, after recording YoY growth of 5.4% in the same period of last year.

In August, the prices of major nonferrous metals remained flat from a month earlier. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 55,228 and RMB 14,609 per metric ton, down 0.4% and up 0.2% from the previous month, or down 22.1% and 18.6% YoY, respectively. The average price of aluminum electrolytic was steady at RMB 15,484 per metric ton, down 0.5% MoM or down 13.8% YoY.

In the first seven months, the nonferrous metal industry realized RMB 97.8 billion in profit, reflecting a decline of 18.3% YoY. The profit of nonferrous metal mining and dressing sector decreased 2.3% YoY to RMB 38.5 billion, while that of the nonferrous metal smelting and processing sector fell 26.1% to RMB 59.2 billion.

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