China's Q1 non-ferrous metal trading value down 46.93% to U.S.$12.8bln

During Q1 this year, China has seen its trading value of non-ferrous metals plunge 46.93% to U.S.$12.8bln, according to the latest statistics released by China Ministry of Industry and Information Technology.

The data shows that the values of both imports and exports have fallen, with imports down 42.8% to U.S.$9.99bln and exports decreasing 57.73% to U.S.$2.80bln.

Despite the decline in trading value, China's trade deficit narrowed to U.S.$7.18bln, a decrease of 33.7% over the same period of last year.

Further, March's export value managed to climb 27.8% over February, the first time for the value to realize a m-o-m increase since Q4 of last year, suggesting non-ferrous trade may be making a comeback.

Almost all non-ferrous metal products in Q1 suffered from trade deficits except zinc and molybdenum. The imports values of copper, aluminum and lead have decreased 44.8%, 43.2% and 5.08% respectively.

Similarly, export values of copper, aluminum and lead dropped 57.5%, 55.9% and 94.11% respectively.

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