Aluminum Corporation of China Limited (hereinafter referred to as Chalco) announced in its 2012 annual report that it suffered huge losses after small profits gained in 2012 and 2011.The net loss of shareholders of the parent company reached 8.23 billion yuan, surpassing the biggest loss of 7 billion yuan when 2009 financial crisis broke out. Related person in charge of Chalco explained in the interview conducted by the National Financial Weekly that 2010 and 2011 saw Chalco recover from the crisis, with profit of 960 million yuan in 2010 and 690 million yuan in 2011, respectively. However, as the European debt crisis deepened and the growth rate of national economy dropped, the growth rate of demand for aluminium products suddenly dropped from over 10% to about 7%, causing overcapacity in the aluminum industry of China and great drop of products price. The whole industry suffered losses and Chalco was no exception.

稀土自身的价值性决定了在市场经济中容易吸引更多的投资目光，作为消费产品，其产出与消耗受到市场供需影响，但投资性与需求性相比较，投资更易带来利益。但是稀土主要供应渠道仍在中国，中国政府放手市场调整稀土价格变动，必然会受到投资者的影响和左右。就如稀土整合的初衷那样，稀土需要计划生产与消费，需要统筹管理，可以接触到稀土生产与销售的交易者必须严格受到控制。

多年来，我国铷铯行业的发展脚步极其滞重。虽然国内铷铯冶炼技术先进，但下游市场却迟迟不能打开，有价无市的情形日益严重。如今，中国铷铯行业终于迎来转折性的时刻。

2013年前5个月，中国精铅市场呈现适度的短缺状态，安泰科估计的短缺量约为6.8万吨，而去年同期为过剩近5.3万吨。不过由于短缺量较小，且多年来中国精铅市场一直处于过剩状态，加上往年的累积过剩量，今年中国精铅市场的短缺难以对市场参与者造成明显的感受。

上半年有色金属价格多数在下跌，而钨却持续上涨，主要是受收储支撑。如果停止收购钨产品，下半年的需求将无法推动钨价继续上涨，这也是是业内所担心的。因此冶炼厂不敢扩大生产，如果价格持续上涨，冶炼企业生产是可行的，但如果价格下跌，企业将亏损。在这种需求平淡的市场形势下，作为企业不能赌博，只能按订单生产，赚取加工利润。近期来看，钨供应仍然紧张，钨价格将维持稳中有升态势。

2013年2季度，随着新建产能的陆续投产，我国有色金属冶炼生产继续快速增长，企业开工率回升，产量增速较上年同期显著加快。上半年，十种有色金属产量累计为1947.0万吨，同比增长10.05%，增幅较上年同期提高3.30个百分点，较1季度下降0.57个百分点。分品种来看，镍产量增速最高，铝产量增速放缓，锌、锡、镁等品种产量增速与上年同期相比实现由负转正。

According to statistics from China Nonferrous Metals Industry Association (CNIA), from January to November 2012, the production of alumina was 34.6588 million tonnes, up by 10.25% on Y-o-Y basis, the production of aluminum was 18.1312 million tonnes, up by 12.29% on Y-o-Y basis.According to statistics and forecast by Antaike, at the end of 2012 the production capacity of alumina will reach 57.89 million t/a, 6.5 million tonnes more than in 2011, up by 12.2%. The  production of alumina in 2012 is estimated at 41.95 million tonnes, 2.95 million tones more than that in the previous year, up by 7.56%. Shanxi Province and Guizhou Province are the two provinces with the biggest new increase in alumina capacity; these two provinces are also the hottest regions of alumina investment.

7月初，国际镍研究小组预计，今年全球镍产量将达到186万吨，而需求为177万吨。据此估算，今年全球镍供应过剩高达9万吨。从表面上看，镍铁行业因全球性的供应过剩而导致开工不足，但从更广、更深层面观察，镍铁业实际上是面临多重压力。业内人士分析指出，造成镍铁业持续开工不足的关键内在因素就是产能过剩，也是“大炼镍铁”后遗症的关键症结所在，并因此引发镍铁价格持续走低，进而导致镍铁生产企业在成本线上“血拼”。

我国的铜加工行业在经过几十年的快速发展，取得了令人瞩目的进步，但是大多数铜加工企业规避生产经营风险的手段有限。本报告试图通过分析铜加工行业发展现状，找出铜加工企业风险来源，提出了几点规避风险的建议。