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BIZCHINA / Center |
Non-ferrous metal output rises 24% in 1st halfBy Gong Zhengzheng (China Daily)
Updated: 2007-08-02 11:47 Non-ferrous metal output in China, the world's top metal producer since 2002, grew by almost one-fourth in the first half of this year as a result of strong demand and prices. January to June combined production of 10 main metals, such as aluminum, copper, lead and zinc, hit 10.97 million tons, up 24.1 percent from a year ago, according to data from the National Development and Reform Commission (NDRC), China's top economic planner. Meanwhile, 5.65 million tons of aluminum were produced, an increase of 34.9 percent. Copper production climbed by 12.9 percent to 1.56 million tons. China Non-ferrous Metal Association, an industry body, predicted in March that the country's 2007 metal production would rise by 15 percent to 22 million tons, including 11 million tons of aluminum and 3.45 million tons of copper. The NDRC said the rise in production and high metal prices boosted the sector's profits sharply. In the first five months of this year, the sector reported a 51.5 billion yuan in profits, surging 41.3 percent year-on-year. Prices of many metals remain on the bullish side in China because of strong demand. For example, spot lead prices stood at 17,998 yuan per ton on average last month, rocketing 67.9 percent from a year earlier. From January to June, the sector's fixed-assets investment grew by 43.1 percent to 66.9 billion yuan. The rate was down from 57 percent in the first quarter. But the NDRC believes the investment growth remains too fast. It said it will take measures pertaining to environment, land and finance with departments concerned in the second half to prevent "blind investment and low-level expansion" in copper, aluminum, lead and zinc smelting segments. China's first-half metal exports rose by 30.8 percent to $13.66 billion, according to data from the metal association. Overall imports of metals and raw materials jumped by 67.6 percent to $29.33 billion. However, imports of alumina, the raw material used to make aluminum, plunged by 20.2 percent to 2.66 million tons because of fast-expanding domestic production. Alumina production in China reached 9.45 million tons in the first six months, surging 58.1 percent. |
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