China's imports of nonferrous metals rise 76 pct in first four months

Imports of nonferrous metals in China jumped 76 percent year-on-year in the first four months of 2007, according to the nation's top economic planning agency.

Analysts said China's economy, which expanded 11.1 percent in the first quarter, has boosted its imports of various raw materials and products ranging from oil and iron ore to nonferrous metals.

Imports of non-ferrous metals in the world's fastest-growing economy reached 19.14 billion U.S. dollars between January and April, 76 percent up on a year ago, the National Development and Reform Commission (NDRC) announced. It added that exports had also jumped 34.2 percent year-on-year to 8.56 billion U.S. dollars.

The trade deficit for metals increased 136 percent from a year ago to hit 10.6 billion U.S. dollars for the four months, the NDRC stated.

Imports of bauxite surged 245 percent year-on-year to 6.5 million tons, while nickel ore soared 10.4 times to 3.85 million tons, according to the NDRC.

The commission stated on May 30 that the nonferrous metal industry recorded 29.4 billion yuan in fixed-assets investment in the first four months, up 48 percent on the same period last year.