China's raw materials manufacturing profits surge 71.7% YoY in H1, nonferrous metals lead

China's raw materials manufacturing sector saw profits jump 71.7% year on year in the first half of the year, contributing 8.8 percentage points to the overall profit growth of industrial firms above a designated size, the National Bureau of Statistics said. Driven by strong demand for copper, aluminum and other nonferrous metal products, the sector's profits soared 99.4% YoY, adding 4.7 percentage points to total industrial profit growth. Meanwhile, rising prices along the oil product chain helped the petroleum processing industry swing back to profit from a year-earlier loss, while the chemical sector posted a 67.8% YoY profit increase.

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