China’s non-ferrous output rose by 5.5pc in 2020 with primary aluminium production up by 4.9pc to 37.080mn mt, refined copper up by 7.4pc to 10.025mn mt, zinc increased by 2.7pc to 6.425mn mt and lead rose by 9.4pc to 6.443mn mt from a year ago. The output of 10 non-ferrous metals was 61.680mn mt in 2020, according to China’s National Bureau of Statistics data.
Robust economic recovery post the COVID-19 lockdowns boosted non-ferrous metal consumption in China driven by high demand from auto and infrastructure sector boosted by government stimuli.
In 2020, processed materials output grew with aluminum processing materials up by 8.6pc to 57.793mn mt and copper processing rose by 0.9pc to 20.455mn mt from the prior year.
The average domestic copper spot price in China rose by 2.1pc in Jan-Dec period to CNY48,752/mt ($7,545.68/mt) from a year ago. Average aluminum spot price in China increased by 1.7pc to CNY14,193/mt while average lead spot price fell by 11.3pc to CNY14,770/mt and average spot zinc price fell by 9.7pc to CNY18,496/mt, according to China Nonferrous Metals Industry Association data.
($1 = CNY6.46)