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China's non-ferrous metal production slows in 2012
BEIJING, Feb 17, 2013 (Xinhua via COMTEX) --
China's non-ferrous metal production
expanded at a slower pace last year compared with a year earlier,
according to new data.
The Ministry of Industry and Information Technology (MIIT) said in
a statement issued on Saturday that total production of 10 kinds of
non-ferrous metals grew 9.3 percent year on year to 36.91 million
tonnes in 2012, down 1.3 percentage points from a year earlier.
A total of 8,057 major non-ferrous metal producers tracked by the
ministry cumulatively saw their profits decline 8.9 percent to 155.8
billion yuan (24.81 billion U.S. dollars), the statement said.
The MIIT explained that the sector was confronted with excessive
production capacity, rising production costs and weak market demands
in China and the rest of the world.
It forecast that the sector's total production will continue to
grow at a moderate pace this year, and there is still no sufficient
impetus to support strong rebounds in market demand due to faltering
economic recovery around the world.
China's economy grew by 7.8 percent year on year in 2012, the
slowest growth rate since 1999, according to the National Bureau of
Statistics.
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