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China's Non-Ferrous Metals Sector Records High First Quarter Profits

Asia / Non-ferrous metallurgy
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China saw stable growth in the non-ferrous metals sector in the first quarter of 2021.

China's Non-Ferrous Metals Sector Records High First Quarter Profits

At the end of the first quarter of this year, China has seen strong growth in the non-ferrous metals sector. This is evidenced by the data of the State Statistical Office (GSO) of the PRC.

In January-March of this year, the production of basic non-ferrous metals, including copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium and titanium, in the country grew by 11.7% year on year to 16.05 million tons.

According to the Non-Ferrous Metallurgy Association of China, in the first quarter of this year, the total profit of enterprises in this sector, with annual revenues of 20 million yuan (approximately US $ 3 million) or more, reached 65.18 billion yuan (more USD 10 billion), the highest in the same period of the last decade.

There was also an increase in capital investment in fixed assets in the sector and a recovery in business confidence, according to statistics from the association.

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