METALS DATA - China's NF metals industry returns to profit growth in Jan-Apr

print Print this document.  Post this story to Facebook.
Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

Singapore 27/05/2016 - Total profits among China's non-ferrous metal smelters and fabricators rose 6.6 percent year-on-year to 37.78 billion yuan ($5.76 billion) in January-April, according to data published by the Chinese National Bureau of Statistics (NBS) on Friday.

The January-April growth rate marks the first time the industry's profit had grown positively after registering year-to-date declines since September 2015 and in the first quarter of this year.

The reversal in the profit decline is due to improved prices and a low base, said NBS.

Total profits in the industry had fallen 4.3 percent year-on-year in the first quarter.

Total revenue in the industry increased 2.6 percent year-on-year to 1.54 trillion yuan in the first four months of the year, a slight improvement from the 2.2-percent year-on-year growth in the first quarter.

Meanwhile total profits in the Chinese nonferrous metals mining sector slipped 8.1 percent year-on-year to 11.63 billion yuan in January-April. Total revenue in the sector increased 2.3 percent year-on-year to 175.09 billion yuan in the same period.

Chinese industrial profits grew 4.2 percent year-on-year to 502 billion yuan in April, versus an 11.1-percent growth in March. Year-to-April profits grew 6.5 percent year-on-year to 1.84 trillion yuan, a decline of 0.9 percentage points from first quarter growth.

The NBS’ survey includes companies with annual revenues of 20 million yuan and above.



Fastmarkets.com
mailto:press@fastmarkets.com
8 Bouverie Street, London, EC4Y 8AX, UK
+44 (0)845 241 9949