China`s 10 nonferrous metal output up 7.1% in Jan-Sep
Source: www.chinamining.org Citation: China Knowledge Date: Oct.25, 2012
The combined output of the ten nonferrous metals rose 7.1% YoY to 27.26 million metric tons in the first nine months of this year, according to the latest statistics released by the National Development and Reform Commission.
The output of aluminum electrolytic rose 10.6% YoY to 14.77 million metric tons in the nine-month period. The output of copper and alumina continue to see slower growth of 7.4% and 9.8%, respectively.
The output of lead rose 11.1% YoY in the period, after increasing 15.1% in the first nine months of 2011. The output of zinc saw decline of 6.2% YoY, after recording YoY growth of 3.5% in the same period of last year.
In September, 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 56,459 and RMB 14,755 per metric ton, up 2.2% and 1% from the previous month, or down 15.9% and 12.2% YoY, respectively. The average price of aluminum electrolytic was steady at RMB 15,462 per metric ton, down 0.1% MoM and 12.2% YoY.
In the first eight months, the nonferrous metal industry realized RMB 111.5 billion in profit, reflecting a decline of 21% YoY. The profit of nonferrous metal mining and dressing sector decreased 4.8% YoY to RMB 44.4 billion, while that of the nonferrous metal smelting and processing sector fell 29% to RMB 67.1 billion.
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