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China's non-ferrous metal output rises 3 pct in 2017

2018-03-05 15:12

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China's output of 10 major non-ferrous metals rose 3 percent to 53.8 million tonnes in 2017, official data showed.

The growth was higher than the 2.5-percent increase recorded in 2016, according to the Ministry of Industry and Information Technology (MIIT).

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

The metal prices recovered, with the prices of copper, aluminum, and lead climbing 29 percent, 16 percent, and 26 percent, respectively.

Producers saw their profitability improve. Major producers of non-ferrous metals posted a 27.5-percent increase in profits and a 13.8-percent growth in revenue from primary business last year, according to the MIIT.

Fixed-asset investment in the non-ferrous metal sector dropped 6.9 percent in 2017, compared with a 6.7-percent decline in 2016.

Excess production capacity is a chronic problem for some non-ferrous metals.

The State Council released a guideline for the sector in 2016, stating that the government would control new capacity for metals struggling with overcapacity, such as electrolytic aluminum.

The MIIT said it will support the research and development of new materials and speed up the elimination of uncompetitive capacity to help upgrade the industry.

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