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Nonferrous metals post slow rise in production
Source: Xinhua |
February 18, 2013, Monday
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Print Edition
CHINA'S nonferrous metal production expanded at a slower pace last year compared with a year earlier, according to new data.
The Ministry of Industry and Information Technology said in a statement issued on Saturday that total production of 10 kinds of non-ferrous metals grew 9.3 percent annually to 36.91 million tons in 2012, down 1.3 percentage points from a year earlier.
A total of 8,057 major non-ferrous metal producers tracked by the ministry cumulatively saw their profits decline 8.9 percent to 155.8 billion yuan (US$24.81 billion), the statement said.
The ministry said the sector faced excessive production capacity, rising output costs and weak market demands in China and the rest of the world.
It forecast the sector's total production will continue to grow moderately this year, and there is still no sufficient impetus to support strong rebounds in market demand due to faltering economic recovery globally.
China's economy grew by 7.8 percent annually in 2012, the slowest growth since 1999, official data show.
The Ministry of Industry and Information Technology said in a statement issued on Saturday that total production of 10 kinds of non-ferrous metals grew 9.3 percent annually to 36.91 million tons in 2012, down 1.3 percentage points from a year earlier.
A total of 8,057 major non-ferrous metal producers tracked by the ministry cumulatively saw their profits decline 8.9 percent to 155.8 billion yuan (US$24.81 billion), the statement said.
The ministry said the sector faced excessive production capacity, rising output costs and weak market demands in China and the rest of the world.
It forecast the sector's total production will continue to grow moderately this year, and there is still no sufficient impetus to support strong rebounds in market demand due to faltering economic recovery globally.
China's economy grew by 7.8 percent annually in 2012, the slowest growth since 1999, official data show.
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