China's 10 nonferrous metal output up 10.6% in Q1

The combined output of the ten nonferrous metals rose 10.6% YoY to 9.49 million tonnes in the first quarter of this year, according to the latest statistics released by the National Development and Reform Commission.

The output of aluminum electrolytic rose 9.7% YoY to 5.22 million tonnes in the three-month period. The output of copper and aluminum sees a growth of 11.3% and 13.8%, respectively.

The output of lead rose 16.1% YoY in the period, after decreasing 8.7% in the first three months of 2012. The output of zinc grew 6.5% YoY, after recording YoY decrease of 5.7% in the same period of last year.

In March, the prices of major nonferrous metals reflected a decrease from a month earlier. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at RMB 57,284 and RMB 15,262 per tonne, down 1.6% and 0.7% from the previous month, or declined 3.9% and 2.3% YoY, respectively. The average price of aluminum electrolytic was steady at RMB 14,636 per tonne, down 2.4% MoM or 8.5% YoY.

In the first two months, the nonferrous metal industry realized RMB 23.05 billion in profit, reflecting a growth of 1.9% YoY. The profit of nonferrous metal mining and dressing sector decreased 1.3% YoY to RMB 8.79 billion, while that of the nonferrous metal smelting and processing sector rose 3.9% to RMB 14.26 billion.

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