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China's output of major non-ferrous metals climbed 16.4 percent last year from 2003 thanks to strong demand in the domestic and overseas markets, according to an industry organization.
Output of 10 key non-ferrous metals - aluminium, copper, lead, zinc, nickel, stannum, mercury, magnesium, sponge titanium and antimony - reached 14.3 million tons, statistics from the China Non-Ferrous Metal Industry Association showed.
The figure kept China the world's No 1 non-ferrous metal maker for a third year running, said Kang Yi, the association's president.
China produced 6.84 million tons of aluminium last year, surging 22.89 percent from 2003.
The nation's copper output rose by 18 percent year-on-year to 2.17 million tons in 2004.
Zinc output in China stood at 2.52 million tons last year, up 9.65 percent over 2003.
The non-ferrous metal industry reported record high sales revenues and profits in 2004 as a result of strong demand for non-ferrous metals, Kang said.
The industry's sales revenues totalled 557.83 billion yuan (US$67.37 billion), an increase of 48.26 percent from a year earlier, according to statistics.
The industry's profits jumped 91.53 percent year-on-year to 32.38 billion yuan (US$3.91 billion) from 2003.
"These were hard-won achievements because the non-ferrous metal industry faced a lot of challenges, such as price hikes of raw materials, shortages of coal, power, oil and transportation, as well as the government's tax policies," Kang said in an interview with China Daily.
China cut its export tax rebate for many non-ferrous metals, such as copper, aluminium and nickel, from 15 percent to 8 percent at the beginning of last year.
The export tax rebate was cancelled at the beginning of this year.
The nation also reinstated export tariffs on these non-ferrous metals at the beginning of 2005.
"All of these negative factors against the non-ferrous industry will remain this year," Kang said.
(China Daily March 25, 2005)
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