China's non-ferrous metal industry profits down 45% in 2008

The aggregate profit of China's non-ferrous metal producers fell 45 percent last year to 80 billion yuan (11.73 billion U.S. dollars), the China Nonferrous Metals Industry Association said Thursday.

Kang Yi, director of the association, said the slump mainly reflected declining demand amid the world downturn, which had worsened since the fourth quarter.

Kang said 2009 was likely to be the toughest test of survival for the industry, and he urged companies to be innovative and upgrade their technology.

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