In the first quarter of this year, China’s nonferrous metal production showed steady growth momentum. The industrial value-added of nonferrous metal enterprises above a designated size increased by 11.4% year-on-year, 5.3 percentage points higher than the national industrial value-added growth rate for the first quarter. Among them, mining and beneficiation enterprises grew by 7.4%, while smelting and processing enterprises grew by 12.0%.
　　This was announced by Chen Xuesen, Vice President of the China Nonferrous Metals Industry Association, at the press conference on the economic performance of the nonferrous metals industry in the first quarter of 2024 on the 29th.
　　It is reported that in the first quarter of this year, China’s nonferrous metals industry continued the steady growth momentum it has maintained since last year, with a strong start to the year. This was reflected in several key indicators: increased production, accelerated investment, robust import and export activities, and a significant rise in total corporate profits. Among them, 11,239 large-scale nonferrous metals enterprises achieved operating revenues of 1,910.12 billion yuan, up 9.4% year-on-year; and total profits reached 67.23 billion yuan, an increase of 30.4% over the same period last year.
　　“As the ‘new three’ continue to grow at a relatively high pace, and as strategic emerging industries such as the new-generation electronic information industry keep developing steadily, market demand for nonferrous metal products will continue to rise, further driving the high-quality development of the nonferrous metals industry,” said Chen Xuesen.
　　Chen Xuesen stated that while maintaining stable growth in the industry, they will continue to closely monitor market dynamics and the impact of international geopolitics, while actively promoting the implementation of high-end, green, and intelligent practices in the nonferrous metals sector.