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19:09, 07-Feb-2019
Building material sector reports better profits in 2018
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Major non-ferrous metal reported faster total output growth in China last year, official data showed.
The production of ten types of non-ferrous metal increased six percent year on year to 56.88 million tonnes in 2018, picking up the pace from the three-percent increase in the previous year, according to the National Development and Reform Commission.
The acceleration was mainly driven by robust production of electrolytic aluminum, which accounted for nearly two-thirds of the total output. Its growth sped up significantly from 1.6 percent in 2017 to 7.4 percent last year.
The production of copper and lead increased eight percent and 9.8 percent, respectively. But the production of zinc dropped 3.2 percent.
However, the combined profits in the non-ferrous metal industry dropped 6.1 percent year on year to 185.5 billion yuan (27.65 billion U.S. dollars), weighed down by a lackluster metal smelting and rolling sector and falling prices.
Source(s): Xinhua News Agency