“In 2025, the nonferrous metals sector deepened supply-side structural reforms, advanced intelligent, green, and integrated transformation, achieving steady growth and quality enhancement.” Chen Xuesen, Member of the Standing Committee of the Party Committee, Vice President, and Spokesperson of the China Nonferrous Metals Industry Association, stated at the press conference on the economic performance of the nonferrous metals industry in 2025 that in 2025, the total assets of nonferrous metals enterprises above designated size exceeded CNY6.6 trillion, with operating revenues reaching CNY10.2 trillion and total profits amounting to CNY528.45 billion, representing year-on-year increases of 8.2%, 13.9%, and 25.6%, respectively.
Chen Xuesen noted that in 2025, the upgrading, iteration, and expansion of downstream application sectors created new growth drivers for the nonferrous metals industry. Simultaneously, the rapid development of strategic emerging industries such as aerospace, new energy, next-generation information technology, and AI has continuously expanded market demand for nonferrous metal products. This demand-driven growth, centered on “new quality productive forces,” accelerated the industry's product structure upgrade toward high-value-added sectors, injecting momentum into profit growth.
Regarding major product output, National Bureau of Statistics data shows that in 2025, the industrial added value of nonferrous metal enterprises increased by 6.9% year-on-year, exceeding the national growth rate for industrial enterprises above designated size by 1 percentage point. Output of ten nonferrous metals surpassed the 80 million ton mark for the first time, reaching 81.75 million tons—a 3.9% increase over 2024.
Regarding fixed-asset investment, data indicates that in 2025, the nonferrous metals industry completed fixed-asset investments 4.9% higher than in 2024, exceeding the national industrial investment growth rate by 2.3 percentage points. Within this sector, fixed-asset investment in nonferrous metal mining and beneficiation surged 41% compared to 2024, while investment in nonferrous metal smelting and rolling processing decreased by 4.2%.
“Private investment vitality has been fully unleashed, with China's private nonferrous metal fixed-asset investment growing 2.6% year-on-year,” stated Chen Xuesen. Private investment in nonferrous metal mining and beneficiation increased by 28.7% compared to 2024, while private investment in smelting and rolling processing decreased by 3.9% compared to 2024.
Regarding import and export trade, data shows that China's total non-ferrous metal import and export trade reached $412.24 billion in 2025, a 12.4% increase over 2024. Imports amounted to $326.31 billion, up 9.6% from 2024, while exports reached $85.93 billion, a 24.2% increase over 2024.
Regarding green transformation, in 2025, the comprehensive energy consumption for copper smelting reached 191 kg of standard coal equivalent per ton, a 2.9% decrease compared to 2024. The comprehensive AC power consumption for primary aluminum production was 13,202 kWh per ton, a 0.5% decrease compared to 2024, and approximately 800 kWh per ton lower than the global average.
Traditional industrial metals and precious metals exhibited robust price trends. Data indicates that in 2025, the annual average copper price reached a record high of CNY81,000 per ton, an 8% increase from 2024; the annual average aluminum price was CNY21,000 per ton, up 3.9% from 2024; and the domestic spot gold price hit a historic peak of CNY796.8 per gram, a 45.3% increase from 2024, with a high of CNY1,017 per gram.
“In 2025, global non-ferrous metal prices will exhibit a pronounced upward trajectory, driven by the synergistic effects of three key factors: intensifying structural supply-demand imbalances, catalysts from geopolitical conflicts and decoupling policies, and capital's amplification of price signals.” Lin Ruhai, Deputy Secretary-General of the China Nonferrous Metals Industry Association and Director of the Policy Research Office and Planning Research Office, stated that from a macro liquidity perspective, the global shift toward monetary easing has been a key driver. A weaker U.S. dollar and loosening global monetary policies have spurred a revaluation of resource assets. Substantial capital has flowed into nonferrous and precious metals markets seeking safe-haven and value-appreciation allocations. Central banks worldwide have continued to increase holdings of gold and other precious metals, further strengthening support for precious metal prices.
Regarding the economic outlook for China's nonferrous metals industry in 2026, Chen Xuesen noted that the global economy is expected to experience moderate growth, with the rise of the artificial intelligence industry emerging as a new investment engine. The sustained expansion of China's “new three major industries” and the emergence of future industries like AI collectively form the core drivers propelling the nonferrous metals sector toward higher value-added segments of the supply chain, signaling higher-quality structural growth.
“Overall, the nonferrous metals industry is expected to maintain steady growth in 2026,” stated Chen Xuesen. In 2026, the added value of the nonferrous metals industry is projected to grow by approximately 5% year-on-year, with output of ten commonly used nonferrous metals increasing by about 2%. Industrial added value is expected to remain around 5%, while fixed-asset investment in the sector is forecast to continue growing. Industry revenue growth is anticipated to reach 5%, with profits showing modest increases.
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