China: Non-ferrous metal industry investment up 25%

Fixed asset investment (FAI) in the Chinese non-ferrous metals industry increased by 25.31% for Q1 2013, reaching a total of RMB82.34 and accounting for 1.42% of total FAI in the country.

Private investment in the sector rose by 31.15% to RMB57.55 billion and accounted for almost 70% of total metals industry FAI, up by just over 3% over the same period in 2012.

Investment in mining projects was up by 3.04% year-on-year and accounted for 14.70% of total FAI in the metals industry.

Regionally, Henan achieved RMB9.53 billion of FAI, closely followed by Jiangsu (RMB8.5 billion) and Shandong (RMB6.4 billion).

The non-ferrous metals industry secured funding to the tune of RMB112.40 billion, up 35.36% year-on-year.

Total fixed asset investment for aluminium mining during the period was RMB983 million, down 13.12% year-on-year. Smelting reached RMB11.8 billion and processing accounted for RMB18.7 billion.

After-tax profitability of 66 Chinese aluminium mining companies reached RMB345 million, an increase of RMB66 million, up 22% year-on-year. However, 281 Chinese aluminium smelter/alumina refiners recorded a loss of RMB110 million, but these losses were still RMB886 million less than the same period last year.

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