New Yuan Loans Surge

BEIJING, Apr. 17 -- China's refined copper output is expected to exceed four million tons in 2009, up about six percent over the previous year, as some large copper projects came on stream in succession last year and will be further released capacity this year, said an official with China Nonferrous Metals Industry Association (CNIA).
&nbsp;&nbsp;&nbsp; Last year saw a 300,000-ton copper plant of Jiangxi Copper Co., a 200,000-ton plant of Xiangguang Copper Co. and other waste copper refining plants start production. 
&nbsp;&nbsp;&nbsp; China produced 3.71 million tons of copper in 2008, up 10 percent year on year. That means CNIA may adjust its expectation if the country's copper output surpasses four million tons this year.
&nbsp;&nbsp;&nbsp; China's copper output totaled 606,000 tons in the January-February period. The National Bureau of Statistics will release March data Friday.
&nbsp;&nbsp;&nbsp; According to the official, the country's copper consumption increased significantly upon the government's industry boost plans to strengthen power grid construction and raise copper reserves as well as the export rebate rates for copper products. Therefore, China's copper enterprises are unlikely to incur losses this year despite their capacity expansion, the official added.
&nbsp;&nbsp;&nbsp; (Source: chinamining.org)