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China Leads the World in Nonferrous Metals Output

Posted on: Thursday, 30 March 2006, 09:00 CST

China leads the world in nonferrous metals output

BEIJING, March 29 (Xinhua) -- China is leading the world in nonferrous metals output for four consecutive years, according to a national nonferrous metals industry conference.

Wednesday's Economic Daily, citing statistics released at the industry conference held in Beijing on Tuesday, said that China's total output of ten nonferrous metals in 2005 increased 18.14 percent over the previous year to 16.32 million tons.

The reform of China's nonferrous metals industry is progressing effectively, with the overheated electrolysis aluminum sector and copper smelting sector having been under control, said Kang Yi, head of the China Nonferrous Metals Industry Association.

Under China's macrocontrol policy, China's electrolysis aluminum companies have been limited to only 93, with about 52 others closed or out of the market, Kang said.

According to Kang, China is not only the world's largest nonferrous metals producer, but also the largest consumer.

By the end of 2005, the total assets of major Chinese nonferrous metals companies reached 688.2 billion yuan, about 2.23 times that of the year 2000; while these companies' sales by the end of 2005 were 3.71 times that of the year 2000, according to Kang.

Kang predicts that China's nonferrous metals industry will maintain rapid growth in 2006 under the government's strategy for sustainable development. But he also noted the industry still faces major problems like resources shortage this year.

Source: Xinhua News Agency - CEIS

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