BEIJING, April 29 (Xinhua) -- China's nonferrous metals industry saw its total profits surge 110.7 percent year on year in the first quarter (Q1) of 2026, driven by factors like rising demand from emerging fields, the China Nonferrous Metals Industry Association said on Wednesday.
China's 12,325 major nonferrous metals enterprises -- each with an annual main business revenue of at least 20 million yuan (about 2.8 million U.S. dollars), saw their combined profits reach 192.85 billion yuan in Q1, the association revealed at a press briefing.
In Q1, the industry has demonstrated strong resilience amid a complex environment and rising external risks, said Chen Xuesen, deputy head of the association.
Chen attributed the sector's surging profits to factors including the heightened strategic value of nonferrous metals, the combined effects of China's macro policies and capacity control efforts, as well as boost from emerging demand and industrial restructuring toward higher-end segments.
Rapid growth in artificial intelligence, energy storage technologies, new energy vehicles, humanoid robotics and the low-altitude economy has driven demand for battery materials such as nickel, cobalt and lithium. Demand for copper foil, aluminum foil and high-end copper products has also increased, according to Chen. ■
