Chinas nonferrous firms facing reorganization

Edited and translated by Li Kunlun, People's Daily OnlineThe nonferrous metal industry need to take precaution against risks of exceeding capacity and falling prices, and further accelerate restructuring, said Chen Quanxun, chairman of the China Nonferrous Metals Industry Association.The small and medium-sized enterprises are facing merger and reorganization, due to financial pressure and industry depression, said Chen.The volume of ten nonferrous metals including copper, aluminum, lead, zinc, nickel, tin, antimony, magnesium, titanium, and mercury，reached 34.38 million tons, an increase of 9.8 percent.The value of China's imports and exports of nonferrous metals in 2011 was more than US$160 billion, with a 28 percent growth rate year-on-year. The prices of non-ferrous metals experienced a short-term pullback due to the European debit crisis, since the watch back removal tool fourth quarter of last year.The non-ferrous metals industry faces many challenges, such as inadequate capacity of resource protection, relatively huge impact on the tanja glasebach facebook enterprises economic benefit by non-ferrous metals prices and heavy metal pollution wholesale wii console incidents, among others, according to Jia Mingxing, vice chairman of the China Nonferrous Metals Industry Association.Read the Chinese version at http://paper.people.com.cn/rmrb/html/2012-03/30/nw.D110000renmrb_20120330_10-10.htm