China's 10 Nonferrous Metal Output up 10.3% in Jan-Nov

Dec. 29, 2011 (China Knowledge) - The combined output of the ten nonferrous metals was 31.23 million metric tons in the first 11 months of this year, up 10.3% year on year, according to the latest statistics released by the National Development and Reform Commission.

The growth was 8.6 percentage points lower than that in the same period of 2010.
    
The output of aluminum electrolytic rose 9.9% year on year to 16.02 million metric tons in the first 11 months, slowing from a 22.6% growth in the same period of 2010. There was a year-on-year increase of 16.3% in the output of electrolytic copper, 12.4% increase in the output of lead, 3.4% increase in the output of zinc and 15.8% increase the output of alumina.
 
In November, the prices of nonferrous metals reduced, compared to the previous month. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 56,181 and RMB 14,816 per metric ton, down 3.9% and 4.4% month on month, or down 10.5% and 14.7% year on year, respectively. The average price of aluminum electrolytic was RMB 16,347 per metric ton, down 3.8% month on month but up 2.1% year on year.
 
In the first ten months, the nonferrous metal industry realized RMB 186.9 billion in profit, 55.5% more than that in the corresponding period of 2010.

The nonferrous metal mining and processing sector saw its profit surge 54.1% year on year to RMB 58.7 billion in the first eight months, and the nonferrous metal smelting and processing sector reaped RMB 128.2 billion in profit during the period, up 56.2% year on year.