Industrial output of China's non-ferrous metals industry up 10.8% in H1

BEIJING - The value-added industrial output of China's non-ferrous metals industry rose by 10.8 percent year-on-year in the first half (H1) of 2024, with the growth rate being 4.8 percentage points higher than the country's general value-added industrial output growth during the same period, according to latest data.

In particular, the value-added industrial output of mining and dressing enterprises grew by 9.1 percent year-on-year, while enterprises engaged in smelting and processing saw 11.1 percent growth in value-added industrial output, according to the data released by the China Nonferrous Metals Industry Association.

Since the beginning of this year, the industry sustained steady growth, evidenced by improved investment structure, robust imports and exports, and significant growth in corporate profits, according to Chen Xuesen, vice-president of the association.

Chen said that policies, including large-scale equipment renewal and trade-ins, have supported domestic demand and promoted non-ferrous metals consumption.

The rapid development of the tech-intensive green trio, namely lithium-ion batteries, photovoltaic products and NEVs, high-end manufacturing like high-speed trains, aerospace techs as well as the development of a new generation of emerging industries, including electronic information focused on artificial intelligence, have also driven the demand for non-ferrous metals, Chen said.

"In the second half of this year, the fundamentals of the non-ferrous metals industry are still solid, and it is preliminarily expected that market demand will still maintain steady growth," Chen noted.