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China's non-ferrous metallurgy posted record profit in the first half of 2021

Asia / Non-ferrous metallurgy
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In the first half of the year, profits in the Chinese non-ferrous metals sector reached a new high on the back of an 11% increase in metal production.

China's non-ferrous metallurgy posted record profit in the first half of 2021

According to the results of the first half of this year, there was a steady growth in the sector for the production of non-ferrous metals in China. In the reporting period, profits of large industrial non-ferrous metal enterprises reached an all-time high of 163.97 billion yuan (about $ 25.37 billion), up 224.6% year on year, according to data from the China Nonferrous Metallurgy Association. p>

This figure increased by 35.66 billion yuan from the level in the first 6 months of 2017, with an average growth rate of 6.3% in the period January-June over the past four years.

During the reporting period, the debt-to-assets ratio in this sector decreased. By the end of June, this indicator for the aforementioned enterprises amounted to 60.6%, which is 2.8 percentage points less than in the first half of 2017.

In the first half of 2021, production of the 10 main types of non-ferrous metals, including copper and aluminum, reached 32.55 million tons, an increase of 11% year on year.

Investment in fixed assets in the sector increased by 15.7% compared to the same period last year, the association said.

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