China Knowledge quoted according to the latest statistics released by the National Development and Reform Commission the combined output of the ten nonferrous metals was 31.23 million tonnes in the first 11 months of this year up by 10.3%YoY.

The growth was 8.6 percentage points lower than that in the same period of 2010.

The output of aluminum electrolytic rose 9.9%YoY to 16.02 million tonnes in the first 11 months slowing from a 22.6% growth in the same period of 2010. There was a YoY increase of 16.3% in the output of electrolytic copper, 12.4% increase in the output of lead, 3.4% increase in the output of zinc and 15.8% increase the output of alumina.

In November, the prices of nonferrous metals reduced, compared to the previous month. The average prices of copper and zinc futures on the Shanghai Futures Exchange stood at CNY 56,181 and CNY 14,816 per tonne down by 3.9%MoM and 4.4%MoM or down by 10.5% and 14.7%YoY respectively. The average price of aluminum electrolytic was CNY 16,347 per ton down by 3.8%MoM but up by 2.1%YoY.

In the first ten months, the nonferrous metal industry realized CNY 186.9 billion in profit up by 55.5%YoY. The nonferrous metal mining and processing sector saw its profit surge 54.1%YoY to CNY 58.7 billion in the first eight months and the nonferrous metal smelting and processing sector reaped CNY 128.2 billion in profit during the period up by 56.2%YoY.

(Sourced from China Knowledge)