China's 10 Nonferrous Metal Output up 9.9% in Jan-July

BEIJING, Aug. 29 (China Knowledge) -- The combined output of the ten nonferrous metals was 19.84 million metric tons in the first seven months of this year, up 9.9% year on year, according to the latest statistics released by the National Development and Reform Commission.

The growth was 20 percentage points lower than that in the same period of 2010.
 
The output of electrolytic aluminum rose 6.8% year on year to 102 million metric tons in the first seven months, slowing from a 41.9% growth in the same period of 2010.  There was a year-on-year increase of 14.6% in the output of copper, 20% increase in the output of lead, 6.7% increase in the output of zinc and 18.9% increase the output of alumina.
 
In July, the prices of nonferrous metals experienced slight increases. The average prices of spot copper and electrolytic aluminum stood at RMB 72,541 and RMB 18,115 per metric ton, up 4% and 5.1% month on month, or 32.3% and 21.1% year on year.

The average price of spot lead climbed 5.3% month on month or 12.2% year on year to RMB 17,169 per metric ton in July, and that of spot zinc was RMB 18,476 metric ton last month, up 5.5% from June and 18% year on year.
 
In the first six months, the nonferrous metal industry realized RMB 104.9 billion in profit, 50.3% more than in the corresponding period of 2010.

The nonferrous metal mining and dressing sector saw its profit surge 54.2% year on year to RMB 33.9 billion in the first half, and the nonferrous metal smelting and pressing sector reaped RMB 71 billion in profit during the period, up 48.5% year on year.