China's copper industry sees steady performance in 2018

BEIJING, March 24 (Xinhua) -- China's copper Industry posted higher production and steady profitability last Year, official data showed.

In 2018, the output of copper products amounted to 17.16 million tonnes, up 14.5 percent Year on Year, according to a report from the Ministry of Industry and Information Technology.

The Industry has made technological progress last Year, with lower energy consumption during copper smelting and a higher rate of finished copper products.

Combined profits of the sector rose 4.3 percent Year on Year to 39.6 billion yuan (about 5.9 billion U.S. dollars), slower than 2017 due to trade frictions, the strengthening U.S. dollar and sluggish demand, the report said.

With rising environmental protection pressure, sluggish downstream consumption and tightened solid waste policy, copper consumption saw a slower growth of 2.5 percent at 13.05 million tonnes, the report showed.