Record non-ferrous output in China

China’s production of 10 of the most commonly used non-ferrous metals in 2023 increased 7.1% to 74.698 million tonnes – the first time the yearly figure has exceeded 70 million.

Preliminary statistics show that the 2023 total included 12.99 million tonnes of refined copper (up 13.5% year-on-year) and 41.59 million tonnes of electrolytic aluminium (up 3.7%).

The numbers were reported by BIR’s Chinese recycling expert, Ma Hongchang, in the organisation’s latest quarterly non-ferrous Mirror.

China’s import and export trade in non-ferrous metals amounted last year to US$ 331.54 billion (EUR 303.54 billion) for a year-on-year increase of 1.5%, with import values rising 4.3% and export values falling 9.8%.

Physical import volumes included 27.536 million tonnes of copper concentrate (9.1% higher than in 2022); 5.48 million tonnes of unwrought copper and copper materials (6.2% lower); and 141.38 million tonnes of bauxite (up 12.9%).

Exports of aluminium materials fell 13.9%, whereas rare earth exports climbed 7.3%. ‘China’s aluminium exports are expected to stabilize while imports of copper concentrate and bauxite should maintain stable growth,’ said Ma.

He added that the growth rate of added value in the non-ferrous metals industry in 2024 should remain above 5.5% and is expected to reach 6%.

INDIA STEAMS ON

A guest contributor to the Mirror, Anirudha Agrawal of Manaksia Aluminium in India, reported that India had maintained its position as the world’s fastest-growing major economy, achieving 8.4% growth when comparing the final quarter of 2023 to that of 2022.

‘Projections indicate that India is poised to overtake Japan and Germany to become the world’s third-largest economy,’ he wrote.

Availability of copper scrap in India was said to be good and India had exported scrap as an export arbitrage window opened. ‘Availability remains good in the current quarter but tightness is expected to emerge from the next quarter,’ Agrawal said.

‘In the aluminium market, the ripple effects of the Red Sea crisis are showing in freight rates and scrap availability. Rising scrap prices and falling refined metal values have cut deep into the margins of recyclers, who are finding it commercially lucrative to raise the share of primary metal in the raw material mix.’

US PERSPECTIVE

Non-ferrous board member from the US, Rick Dobkin of Shapiro Metals, reported that primary aluminium’s terminal markets remain range-bound, as they have been since the summer of 2023. Domestically, some items had been ‘very tight’ and secondary scrap prices substantially higher.

‘The biggest movements have been in secondary aluminium. Ingot prices have improved slightly, with scrap pricing having risen further on dwindling supplies.’

Finally, President Paul Coyte said Global Recycling Day on 18 March gave an opportunity to pay tribute to the industry and to the collective efforts put into recycling non-ferrous metals and other commodities.

‘We can be proud of what we have achieved thus far. If we look at the road ahead of us, we can all appreciate the collective effort that will be needed.’