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Operating Performance of China’s Nonferrous Metals Industry from January to September
2023-03-23
From January to September 2022, China’s output of ten major nonferrous metals totaled 49.828 million tonnes, up 2.8% year on year. Specifically, refined copper, lead, and primary aluminum production reached 8.063 million tonnes, 5.566 million tonnes, and 29.875 million tonnes, respectively, increasing by 2.9%, 4.7%, and 2.8% year on year; zinc output stood at 4.987 million tonnes, down 0.1% compared with the same period last year.
From January to September, copper fabricated products output totaled 16.366 million tonnes, down 0.5% year on year; aluminum fabricated products output reached 45.713 million tonnes, a decrease of 0.9% compared with the same period last year.
According to data from the General Administration of Customs, from January to September, China’s imports of copper ore and concentrates totaled 18.9 million tonnes, up 8.8% year on year; imports of aluminum ore and concentrates reached 94.75 million tonnes, an increase of 16.4% compared with the same period last year.
In the first three quarters, the average spot price of copper in China was RMB 68,158 per tonne, up 0.8% year on year; the rate of increase narrowed by 6.9 percentage points compared with the first half of the year. Meanwhile, the average spot price of aluminum stood at RMB 20,420 per tonne, a 10.4% rise from the same period last year, with the growth rate narrowing by 12.6 percentage points versus the first half.
In the first three quarters, large-scale nonferrous metal enterprises reported total profits of RMB 246.3 billion, with the year-on-year growth rate—calculated on a comparable basis—reversing from a 22.8% increase in the first half to a 6.0% decline.
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