China's non-ferrous metal output accelerates
China's total production of 10 major non-ferrous metals grew at a faster pace in the first three quarters than a year earlier, according to official data, indicating the country's overcapacity problem.
Combined output grew 9.8 percent year on year to 29.69 million tonnes in the first nine months, up 2.7 percentage points from a year earlier, the National Development and Reform Commission (NDRC) said Saturday in a statement.
However, the sector's total profit dropped 6.8 percent during the period to 121.5 billion yuan (19.77 billion U.S. dollars), partly due to excess production capacity, according to the statement.
The NDRC has said in a previous statement that the sector should strictly control total production and improve efforts of eliminating overcapacity in the latter half of the year.
The 10 major non-ferrous metals include copper, aluminum, lead, zinc, nickel, stannum, antimony, mercury, magnesium and titanium.
However, the sector's total profit dropped 6.8 percent during the period to 121.5 billion yuan (19.77 billion U.S. dollars), partly due to excess production capacity, according to the statement.
The NDRC has said in a previous statement that the sector should strictly control total production and improve efforts of eliminating overcapacity in the latter half of the year.
The 10 major non-ferrous metals include copper, aluminum, lead, zinc, nickel, stannum, antimony, mercury, magnesium and titanium.
