SHANGHAI, Aug 23 (SMM) – Tongling Nonferrous Metals posted a rise of 59.56% in its earnings from copper products in H1 2021 compared to H2 2020 due to higher copper prices, according to its mid-year report.
During the report period, trading income increased by 221.43% mainly due to the increase in the trading income of its subsidiary Shanghai International Trade with Jintong Copper.
In 2020, Tongling Nonferrous Metals produced 1.42 million mt of copper cathodes, accounting for 14.18% of the total domestic output; its copper foil capacity stands at 45,000 mt, and the company has realised mass production of 5G communication RTF copper foil and 6-㎛ lithium battery foil, making it a key supplier for leading companies.
In the first half of 2021, Tongguan Copper Foils commenced the project of ultra-thin electronic copper foil used in high-precision energy storage (phase II), with an annual output of 20,000 mt, which will bring the total precise electronic copper foil capacity to 55,000 mt annually after its commissioning.
Tongling Nonferrous Metals is a major domestic copper cathode manufacturer and the largest domestic copper foil manufacturer with deep technical accumulation in copper ore mining, copper smelting and copper foil processing.
