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Operating Performance of the Domestic Nonferrous Metals Industry in January–February
2022-04-27
In January–February, national output of ten major nonferrous metals totaled 10.51 million tonnes, down 0.5% year on year, compared with a 10.6% increase in the same period last year. Specifically, copper production reached 1.70 million tonnes, up 4.5%, though the growth rate declined by 7.8 percentage points from the previous year; electrolytic aluminum output stood at 6.33 million tonnes, down 1.4%, whereas it had risen 8.4% in the same period last year; lead production was 1.15 million tonnes, down 0.1%, after a 27.8% increase a year earlier; and zinc production came in at 1.06 million tonnes, down 1.8%, following a 2.8% rise in the corresponding period last year. Alumina output totaled 11.78 million tonnes, down 7.3%, compared with a 14.8% increase in the same period last year.
Compared with December last year, prices for copper, electrolytic aluminum, and zinc increased, while lead prices declined slightly. In February, the average settlement prices on the Shanghai Futures Exchange for the near-month contracts were RMB 71,170 per tonne for copper, RMB 22,718 per tonne for electrolytic aluminum, and RMB 25,115 per tonne for zinc—up 2.4%, 17.2%, and 6.7%, respectively, from December last year, and up 14.5%, 41.5%, and 21.5% year over year. The average settlement price for lead was RMB 15,296 per tonne, down 0.4% from December last year and also down 0.4% year over year.
In January–February, the total operating revenue of China’s large-scale industrial enterprises reached RMB 19.399 trillion, up 13.9% year on year, while total profits amounted to RMB 1.158 trillion, an increase of 5% over the same period. Specifically, the nonferrous metal mining and dressing sector reported operating revenue of RMB 46.42 billion, up 23.5% year on year, with total profits of RMB 9.67 billion, a 49% year-on-year rise; meanwhile, the nonferrous metal smelting and rolling processing industry recorded operating revenue of RMB 1.0564 trillion, up 26.4% year on year, and total profits of RMB 49.4 billion, a 63.8% year-on-year increase.
— Reprinted from the “Henan Nonferrous Metals Industry Brief,” Issue No. 3, 2022.
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