China's non-ferrous metal trade growing fastStaff writer ▼ | Tuesday June 18, 2013 3:00AM ET
China is abundant in non-ferrous metal resources which possess complete varieties. Currently, reserves of seven metals including wolfram and rare earth rank the top globally; reserves of 5 metals, namely, lead, nickel, mercury, molybdenum and niobium are considerably plentiful.
In recent years, the output of nonferrous metals maintains the rapid increase and the industry scale swiftly expands. In 2011, the output of China's ten major nonferrous metals (copper, aluminum, lead, zinc, nickel, tin, antimony, magnesium, titanium and mercury) was 34.38 million tons, increasing by 9.8% year over year.
From January to October in 2012, the cumulative output of ten major nonferrous metals in China reached 30.52 million tons, increasing by 7.7% year over year.
After lead futures was successfully listed on the Shanghai Stock Exchange on Mar. 24, 2011, four major basic nonferrous metals in China were all listed on the Shanghai Stock Exchange.
In 2011, the total import and export trade amount of China's nonferrous metals reached an all-time high, achieving $160.7 billion, with an increase of 28% year over year. The import amount was $117.5 billion, increasing by 21% year over year the export amount was $43.2 billion, increasing by 52.7% year over year.
In terms of products, the import volume of copper, aluminum and lead smelting products all presented the declining trend. The import volume of bauxite sharply increased and the export volume of aluminum materials maintained the soaring momentum. However, in view of aggravated trade friction, it brings more difficulties to exports and the growth rate of raw material export amount will evidently drop.
The current onsumption per capita of China's copper, aluminum and zinc is less than 30 percent of that in developed countries. Therefore, there is large space for the development of China's nonferrous metal market in the future. ■