BEIJING, July 25 (China Knowledge) -- The combined output of the ten nonferrous metals was 16.9 million metric tons in the first six months of this year, up 9.8% year on year, according to the latest statistics released by the National Development and Reform Commission.

The growth was 21.5 percentage points lower than that in the same period of 2010.

The output of electrolytic aluminum rose 5.6% year on year to 8.64 million metric tons in the first half, slowing from a 45.6% growth in the first half of 2010.  There was a year-on-year increase of 13.9% in the output of copper, 25% increase in the output of lead, 6.1% increase in the output of zinc and 17.8% increase the output of alumina.

In June, the prices of nonferrous metals rebounded from May. The average prices of spot copper and electrolytic aluminum stood at RMB 69,758 and RMB 17,241 per metric ton, up 2% and 3% month on month, or 33.4% and 18.5% year on year.

The average price of spot zinc climbed 3.1% month on month or 16.6% year on year to RMB 17,518 per metric ton in June, and that of spot lead was RMB 16,307 metric ton last year, down 0.2% from May but up 11.5% year on year.

In the first five months, the nonferrous metal industry realized RMB 81.68 billion in profit, 39.9% more than in the corresponding period of 2010, but the growth rate was 203.4 percentage points lower than that in the same period of last year.

The nonferrous metal mining and dressing sector saw its profit surge 50.6% year on year to RMB 26.26 billion, and the nonferrous metal smelting and pressing sector reaped RMB 55.43 billion in profit, up 35.3% year on year.

Source:smm