China’s first-half output of 10 nonferrous metals is likely to rise by 2% from a year earlier, the China Nonferrous Metals Industry Association (CNIA) said on Thursday, as aluminum production continues to grow.
Jia Mingxing, vice chairman of the group, told an online news conference that China’s January-June production of 10 nonferrous metals is seen to rise to above 33 million tonnes, according to a statement issued by CNIA.
The metals including copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium and titanium. China churned out 16.17 million tonnes of the metals in the first quarter.
Jia said the intensifying Ukraine-Russia conflict and inflation in the United States were bringing more uncertainties to the industry, but China’s domestic market could exceed expectations amid policies to stabilize the cooling economy.
“In the second quarter, nonferrous prices will fluctuate at high levels. Nickel prices will gradually return to fundamentals, and other products such as lithium is also expectd to retreat from highs,” according to the association.
The CNIA also anticipates nonferrous metals exports, including unwrought aluminum and aluminum products, to continue to rise at a relatively fast pace, it said.
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