China's non-ferrous metal sector looks set to continue to slowdown in 2015 as a slowing economy has sapped demand while excess production capacity has contained the sector's development.
Growth in output and consumption of 10 major non-ferrous metals including copper, aluminum, lead and zinc, will slow further while investment in the sector will continue to shrink, the Ministry of Industry and Information Technology (MIIT) said in a statement carried by Chinese news agency (Xinhua).
According to the MIIT, China produced 44.17 million tonnes of the metals in 2014, up 7.2% form one year earlier, but the pace of growth slowed from the 9.9% rise registered in 2013.
The slowdown came amid continued weakness in economic activity. The economy expanded by 7.4% last year, the slowest pace in a quarter of a century.