Core Viewpoint - The Chinese non-ferrous metal industry has experienced a significant decline in exports to the United States since the trade tensions began in 2018-2019, with indirect impacts on domestic consumption due to high tariffs [1] Summary by Relevant Sections Export Trends - In 2024, China's exports of unwrought aluminum and aluminum products to the U.S. were 25,400 tons, a decrease of 62% compared to 2017, with the export share dropping from 14.1% to 3.8% [1] - The U.S. has fallen from being China's largest aluminum export destination to the sixth position [1] Copper Exports - Exports of copper products to the U.S. accounted for only 4.6% of China's total copper exports, with some exemptions applied [1] Impact of Tariffs - The direct impact of the high "reciprocal tariffs" on China's non-ferrous metal industry is limited; however, the indirect effects on downstream sectors such as home appliances, consumer electronics, machinery, and light industry due to restricted exports to the U.S. should not be overlooked [1]

Core Insights - The Chinese non-ferrous metals industry had a strong start in the first quarter of this year, with production of ten non-ferrous metals increasing by 2% year-on-year [1] - Despite a decline in total import and export trade, key mineral product imports continued to grow, indicating resilience in the sector [1] - The market for common and new energy metals showed significant price increases, with copper, aluminum, lead, and zinc prices rising by 11.4%, 7.3%, 5.9%, and 14.8% respectively [1] Production and Trade - In the first quarter, the production of ten non-ferrous metals reached 19.85 million tons, with refined copper and electrolytic aluminum production at 3.54 million tons and 11.07 million tons, reflecting year-on-year growth of 5% and 3.2% respectively [1][2] - The total import and export trade value for non-ferrous metals was $88.38 billion, a year-on-year decrease of 8.7%, while the import volume of copper ore and its concentrates increased by 1.8% to 7.11 million tons [1] Financial Performance - Major non-ferrous metal enterprises achieved operating revenue of 2.23 trillion yuan, a year-on-year increase of 19.6%, and a total profit of 91.77 billion yuan, reflecting a year-on-year growth of 40.7% [2]

4月6—14日，中国有色金属工业协会党委常委、副会长兼秘书长段德炳率团赴中东、北非调研，与埃 及、阿联酋、阿曼3个国家的有关政府部门、商会、园区以及企业进行高层会谈，并实地调研相关自贸 区及生产、建设企业。 ...