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China’s non-ferrous metal industry reports steady growth in Q1

Abstract : China's non-ferrous metal sector started well in 2021, seeing robust expansion in the first quarter of the year, official data showed.

Photo taken on April 10, 2019 shows a non-ferrous metal company in Fangchenggang City, south China’s Guangxi Zhuang Autonomous Region. (Xinhua/Zhou Hua)

BEIJING, May 8 (Xinhua) — China’s non-ferrous metal sector started well in 2021, seeing robust expansion in the first quarter of the year, official data showed.

The output of 10 types of non-ferrous metals stood at 16.05 million tonnes, increasing 11.7 percent from a year earlier and resulting in an average first-quarter year-on-year growth of 8.2 percent over the past two years, according to the National Bureau of Statistics.

The 10 major non-ferrous metals are copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium and titanium.

Total profits of major companies in the sector rose 70.3 percent year on year on average over the past two years to 65.18 billion yuan (about 10.08 billion U.S. dollars) in the January-March period, hitting a new high of the same period in the past decade, according to the China Nonferrous Metals Industry Association.

Major non-ferrous enterprises have annual business turnover of at least 20 million yuan.

Data from the association also shows the increase of fixed-asset investment to the sector as well as continuous recovery of non-ferrous enterprises’ confidence. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s non-ferrous metal industry reports steady growth in Q1

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