Non-ferrous metal industry maintains steady growth
Jia Mingxing, vice chairman and secretary-general of the China Nonferrous Metals Industry Association, recently announced that in the first three quarters of this year, my country’s non-ferrous metal production continued to recover, with fixed asset investment returning to positive growth, non-ferrous metal prices fluctuating at high levels, and non-ferrous metal companies above designated size. Realize the profit growth exponentially.
He predicts that in the fourth quarter, non-ferrous metal production will maintain a steady growth, and the year-on-year growth rate will drop, but the annual growth rate is expected to reach about 5%.
Jia Mingxing believes that the operation of non-ferrous metals in the first three quarters of this year presents five major characteristics: First, the production of non-ferrous metals has maintained steady growth, but the growth rate has declined.
In the first three quarters, the output of 10 commonly used non-ferrous metals was 48.421 million tons, a year-on-year increase of 7.9%, a decrease of 3.1 percentage points from the first half of the year, and an average increase of 5.3% in the two years.
Second, the total fixed asset investment in the non-ferrous metal industry has achieved positive growth, but the growth rate has fallen from the first half of the year.
In the first three quarters of this year, the non-ferrous metal industry's fixed asset investment increased by 8.8% year-on-year, but the growth rate dropped by 6.9 percentage points from the first half of the year, and the two-year average growth rate was 0.6%.
Third, imports of copper concentrates increased, imports of unwrought copper and copper materials decreased, and imports of bauxite decreased.
In the first three quarters, my country’s copper concentrate imports were 17.369 million tons, an increase of 6.3% year-on-year; imports of unwrought copper and copper materials were 4.019 million tons, a year-on-year decrease of 19.5%. Compared with the same period in 2019, the two-year average increase was 6.6 %.
Fourth, in the third quarter, the price of copper dropped from the previous quarter, and the price of aluminum was still fluctuating at a high level.
In the first three quarters, the average copper price in the domestic spot market was 67,623 yuan/ton, a year-on-year increase of 44.1%, a decrease of 5.1 percentage points from the first half of the year; the average domestic spot market aluminum price was 18,491 yuan/ton, a year-on-year increase of 32.5%, an increase over the first half of the year. Expanded by 0.9 percentage points.
Fifth, the profits of non-ferrous metal enterprises above designated size have increased exponentially, but the growth rate has fallen at a high level.
In the first three quarters of this year, non-ferrous metal industrial enterprises above designated size achieved a total profit of 266.07 billion yuan, a year-on-year increase of 139.2%, and the growth rate was about 85.4 percentage points lower than that in the first half of the year.