China's 10 nonferrous metal output up 7.7% in Jan-Oct
The combined output of the ten nonferrous metals rose 7.7% YoY to 30.52 million metric tons in the first ten months of this year, according to the latest statistics released by the National Development and Reform Commission.
The output of aluminum electrolytic rose 11.3% YoY to 16.46 million metric tons in the ten-month period. The output of copper and alumina continue to see slower growth of 7.4% and 10%, respectively.
The output of lead rose 11.5% YoY in the period, after increasing 13.5% in the first ten months of 2011. The output of zinc declined 6.2% YoY, after recording YoY growth of 3.5% in the same period of last year.
In October, the prices of major nonferrous metals reflect a growth from a month earlier. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 59,410 and RMB 15,971 per metric ton, up 5.2% and 5.1% from the previous month, or grew 1.7% and 6.3% YoY, respectively. The average price of aluminum electrolytic was steady at RMB 15,491 per metric ton, up 0.2% MoM but down 8.8% YoY.
In the first nine months, the nonferrous metal industry realized RMB 129.1 billion in profit, reflecting a decline of 19.6% YoY. The profit of nonferrous metal mining and dressing sector decreased 4.4% YoY to RMB 50.4 billion, while that of the nonferrous metal smelting and processing sector fell 27% to RMB 78.7 billion.