Faced with a complex and ever-changing international economic landscape, mounting downward pressure on the domestic economy, sluggish market demand, persistently low product prices, and financial market volatility—among other adverse factors—the entire industry has earnestly implemented the Party Central Committee and the State Council’s policies and measures aimed at stabilizing growth, adjusting structures, and promoting transformation. Proactively adapting to the new normal, the industry has continuously advanced structural adjustments and industrial upgrades, maintaining an overall stable operational trend.

　　 One, 2015 Operating Performance of the Nonferrous Metals Industry in the Year

　　(1) Production maintains steady growth. Output of ten non-ferrous metals 5090 Ten thousand tons, up year-on-year 5.8% , growth rate slows down 1.4 percentage points. Among these, the output of refined copper, electrolytic aluminum, lead, and zinc were: 796 Ten thousand tons, 3141 Ten thousand tons, 386 Ten thousand tons, 615 Ten thousand tons, up year-on-year, respectively. 4.8% 、 8.4% 、 -5.3% 、 4.9% The production volumes of copper and aluminum are, respectively, 1914 Ten thousand tons, 5236 Ten thousand tons, up year-on-year, respectively. 7.1% 、 9.0% , the growth rates have both declined. 3.6 one and 5.7 percentage point.

　　(2) Industry investment declined slightly. The nonferrous metals industry (including independent gold enterprises) completed fixed-asset investment. 7617 100 million yuan, down year-on-year 3.2% For the first time in recent years, there has been a decline. Among them, completed investment in non-ferrous metal smelting... 1803 100 million yuan, down year-on-year 5.8% Investment completed in non-ferrous metal processing 3733 100 million yuan, down year-on-year 2% Investment in the aluminum industry declined particularly sharply, with investment in aluminum smelting falling year-on-year. 9.9% Aluminum rolling processing investment declined year-on-year. 9.6% Foreign investment has achieved new breakthroughs: the Guinea bauxite project invested in by Shandong Hongqiao Group and the Antamina copper mine project invested in by China Minmetals Corporation are now in normal production.

　　(3) Industry profits have declined significantly. The annual average spot prices for copper, aluminum, lead, and zinc were: 40941 Yuan / ton, 12159 Yuan / ton, 13097 Yuan / ton, 15474 Yuan / tons, down year-on-year, respectively 16.8% 、 10.2% 、 5.5% 、 4.1% The price of battery-grade lithium carbonate has risen sharply, from... 4.3 Ten thousand yuan / ton rises to 12.3 Ten thousand yuan / Ton. Large-scale non-ferrous metal industrial enterprises achieved main business revenue. 57253 100 million yuan, up year-on-year 0.2% ; Achieve profit 1799 100 million yuan, down year-on-year 13.2% , near 21% The company is reporting losses, but the processing industry is achieving profits. 1080.4 100 million yuan, up year-on-year 2.5% , accounting for the industry's overall profit 60%。

　　(4) Technological progress continues to advance steadily. 9 A super-large aluminum alloy integral ring component for launch vehicles has been successfully developed. 600kA Aluminum electrolytic cells have achieved industrial-scale application. The level of energy conservation and consumption reduction continues to improve, and the comprehensive AC power consumption per ton of primary aluminum... 13562 kilowatt-hour / Ton, down year-on-year 34 kilowatt-hour / tonnes; the comprehensive energy consumption for copper, lead, and zinc smelting are respectively: 256 kilogram of standard coal / ton, 400 kilogram of standard coal / ton, 885 kilogram of standard coal / tons, down year-on-year, respectively. 11.7 kilogram of standard coal / ton, 33.4 kilogram of standard coal / ton, 11.9 kilogram of standard coal / Ton.

　　(5) A significant decline in import and export volumes. Total value of non-ferrous metal import and export trade 1307 hundreds of millions of dollars, down year-on-year 26.2% Among them, the import value 861 hundreds of millions of dollars, a decrease 13.9% ; Export value 446 hundreds of millions of dollars, a decrease 42.2% However, imports of major mineral products continued to grow relatively rapidly, among which copper concentrate... 1332 Ten thousand tons, bauxite 5610 Ten thousand tons, lead concentrate 190 Ten thousand tons, zinc concentrate 325 Ten thousand tons, up year-on-year, respectively. 12.7% 、 54.6% 、 4.9% 、 47.6% 。

　 　II. Major Existing Issues

　　(1) Structural contradictions on the supply side are prominent. Although the aluminum smelting industry has significantly reduced its losses, 66 Hundreds of millions of yuan—but the lack of smooth exit channels for uncompetitive electrolytic aluminum capacity poses significant challenges. The exit process involves numerous issues, including workforce resettlement, debt resolution, and coordination with upstream and downstream industries, placing considerable operational pressure on enterprises. Meanwhile, overcapacity has also emerged in the smelting of other nonferrous metals as well as in mid- and low-end processing capacities. As a result, plant utilization rates remain low, product homogeneity is severe, and it’s increasingly difficult for companies to meet market demand with high-end materials.

　　(2) State-owned enterprises urgently need to accelerate reform. Nationwide, state-owned and state-controlled enterprises have only achieved profits... 5.7 100 million yuan, a significant year-on-year decrease. 96.5%, Accounting for only a small share of the industry's total profits. 0.3% , the proportion of enterprises experiencing losses reached 41.7% Total loss 373 hundred million yuan, accounting for the total loss of the entire industry. 66 The inflexibility of state-owned enterprise mechanisms and other related issues are becoming increasingly prominent, and there is an urgent need to accelerate reform in order to ensure the industry’s healthy and stable development.

　　(3) Production costs continue to rise. The pace of power sector reform has been relatively slow, leaving nonferrous metal enterprises—especially those engaged in electrolytic aluminum, zinc smelting, sponge titanium, and polysilicon production—unable to benefit from lower electricity costs resulting from the decline in coal prices. Factors such as increased environmental protection investments and a higher base for social security contributions have led to a rigid increase in production costs. The difficulties and high costs of corporate financing persist, and financial expenses in the industry have risen year-on-year. 8%。

　　(4) The growth rate of market demand is slowing down. In key nonferrous metal application sectors such as real estate, home appliances, and automobiles, the growth rate of demand has declined to varying degrees. The area of newly started housing construction (in 10,000 square meters) decreased year-on-year. 14% The production and sales ratio in the home appliance industry declined year-on-year. 1.2% Automobile production growth slowed down year-on-year. 4%。

　 　III. The Main Situation Faced and 2016 Annual Outlook

　　2016 The domestic and international economic environment has become even more complex and challenging this year, with downward pressure on the economy continuing to intensify. The new normal characteristics of China’s economic development are becoming increasingly evident. 2016 Year is “ 13th Five-Year Plan ” The inaugural year, as... “ 13th Five-Year Plan ” Planning, “ The Belt and Road ” the coordinated development of the Beijing-Tianjin-Hebei region, the construction of the Yangtze River Economic Belt, and other national strategies, as well as “Made in China” 2025 The implementation of [the policy] and the introduction of a series of measures to stabilize growth will open up new development space and inject fresh momentum into the nonferrous metals industry. However, the global economy will likely remain in a weak state, making it difficult for market demand for nonferrous metal products to experience substantial growth. It is expected that... 2016 This year, prices of non-ferrous metal products will likely continue to fluctuate at low levels. The growth rates of domestic production of major non-ferrous metal products and fixed-asset investment will further slow down. The industry as a whole will still face significant uncertainties. Therefore, maintaining stable growth, adjusting the industrial structure, accelerating supply-side reform, reducing overcapacity, deleveraging, addressing shortcomings, and speeding up the transformation and upgrading of the industry—while simultaneously cutting costs and boosting efficiency—will remain crucial. 2016 Key tasks for the management of the nonferrous metals industry this year.