Chen Xuesen, who is the vice president of NFSOC, states the production value of Non-ferrous metals(hereinafter referred to as “metals”) is witnessing a steady growth while keeping improve in 2022 and poses a great expectation in the following year of industry after Covid-19 pandemic, According to the latest new from Chinese Non-Ferrous Metals Organizations-the largest organization for overview of industry. The factors manifesting a steady growth in this sector are as follow:
Steady Growth of Production:
With a year on year increase by 6.5％, production of 10 Metals are up by 17 million tons representing a increase of 2.0％. The industrial gross Value added has mounted over 4.8％ compared with that of last year, with a growth rate of 0.9 p.p. higher than that of other sectors in China.
Moreover, Enterprises for mining and processing industry have grew 8.3％ and 4.3％ respectively.
Increased Investment of Current Asset
Current asset is up by 14.5％ compared with that of 2021-a higher growth rate of 3.6 p.p. than last first half of a year. For privater enterprises, current asset of metals have been invested by over 17.8％ year on year with a higher percentage point of 3.3 than industry in domestic market.
Growing Value of Foreign Trade
In the first three quarters of 2022, aggregate of foreign trade has reached 86.5 billion USD with the increase of 27.3％, of which import value owns 72.3 billion USD with a growth of 40.1％
Steady Price of Aluminum
Several data illustrate that aluminum price is 18388 per ton in the spot market with a decrease of 49.4％ year on year. Aluminum prices fell by 18130 per ton in July with 18524 and 18507 of August and September, reaching the bottom of aluminum market.
As confrontations including inflation, monetary deflation geopolitical strife and energy shortage are intertwined, nonferrous metals especially aluminum alloy will be slightly affected. But we estimate all that will be addressed in 2023 when confrontations are reach the end and pandemic are under control in the effort of global people.