Reuters reported that China's production of refined copper and primary aluminum rose 23.7% and 7.4% respectively from a year earlier in March hitting monthly records for both metals on expanded capacity and sufficient supply of raw materials.
Data from the National Bureau of Statistics showed that China produced 470,000 tonnes of refined copper in March up from the previous monthly record of 444,000 tonnes in December 2010 and a rise of 21.8% from the short month of February.
Mr Guo Yong analyst at Jinrui Futures said that "We did not see any factors that limited smelter production in March. In fact many smelters such as Jiangxi Copper have been increasing production. Supplies of raw materials, scrap and copper concentrate had been sufficient for producers supporting expanded capacity and production.”
Smelter officials said that China's primary aluminum production rose to 1.428 million tonnes in March up from the previous monthly record of 1.416 million tonnes in May last year. Output increased 9.4% from February. Many aluminum smelters had increased production and started new capacity after local power supply rose in late February.
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