Wang Huajun, deputy secretary general of China Nonferrous Metals Industry Association, said yesterday that in 2012, the production of nonferrous metals in the country will continue to be in a stable growth trend, but the growth rate will be lower than this year. The growth rate of the industry's economic benefits will fall sharply year-on-year, and negative growth may occur in the first quarter of next year. Wang Huajun made the above remarks at the annual meeting of "Shanghai Nonferrous Metals" held yesterday. In summing up the characteristics of this year's non-ferrous metal industry, he said that due to industrial development and improved economic quality, the growth rate of non-ferrous metal smelting products slowed down; profits were concentrated in enterprises with resources and energy; fixed assets investment shifted to the west. The situation is particularly obvious. After the third quarter, the prices of non-ferrous metals in the domestic and foreign markets began to oscillate. He revealed that in the first 10 months of this year, industry profits increased by more than 50% year-on-year. Although the growth rate dropped more than the same period of last year, it still ranks among the best in various industries. After deducting taxes and fees, the industry average sales profit is about 40%. Wang Huajun judged that the economic benefits of the non-ferrous metals industry will fall sharply next year, and there is a possibility of negative growth in the first quarter of next year. For import and export, the pressure on exports next year is likely to increase further. He also revealed that from next year, the Nonferrous Metals Industry Association will actively promote applications such as all-aluminum vehicles.
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