China's 10 Nonferrous Metal Output up 2.8% in Oct

Dec. 2, 2010 -- The combined output of the ten nonferrous metals was 2.63 million metric tons in October this year, up 2.8% year on year, according to the latest statistic released by the Ministry of Industry and Information Technology.

The output of electrolytic aluminum fell 5.4% year on year to 1.21 million metric tons in October and that of electrolytic copper dropped 0.2% year on year to 400,000 metric tons.

In October, growth in value-added output of the nonferrous metal industry slowed 3.2 percentage points from September to 6%, much lower than the 14.1% average growth in the first ten months of this year.

In the period from January to October, the combined output of the ten nonferrous metals jumped 21.2% year on year to 26.17 million metric tons.

In October, average prices of spot copper and aluminum stood at RMB 62,707 and RMB 16,068 per metric tons, up RMB 3,095 and RMB 728 per metric ton from the previous month.

Prices of copper, aluminum and zinc futures on Oct. 26 hit the highest level since 2008, then retreated and stood at RMB 62,460 per metric ton, RMB 16,565 per metric ton and RMB 19,560 per metric ton as of Oct. 29, up RMB 1,870 per metric ton, RMB 560 per metric ton and RMB 1,515 per metric ton from a month earlier, respectively.