Xinhua reported that China’s copper industry posted higher production and steady profitability last year. According to a report from the Ministry of Industry and Information Technology, in 2018, the output of copper products amounted to 17.16 million tonnes, up 14.5% YoY. Combined profits of the sector rose 4.3% YoY to CNY 39.6 billion (USD 5.9), slower than 2017 due to trade frictions, the strengthening US dollar and sluggish demand. With rising environmental protection pressure, sluggish downstream consumption and tightened solid waste policy, copper consumption saw a slower growth of 2.5% at 13.05 million tonnes.
Chinese copper industry has made technological progress last year, with lower energy consumption during copper smelting and a higher rate of finished copper products.