Profits in nonferrous sector surge on reforms

China's major nonferrous companies experienced a profitability surge in the first half of 2018, with analysts forecasting the industry's prospects are likely to remain promising throughout the year.

The strong half-year performance was mainly driven by ongoing supply-side reforms boosting product prices and deepening State-owned enterprise reforms, revitalizing SOEs, many of which lead the industry, analysts said.

"The country's supply-side reforms in the industry have had a substantial effect on the supply side. The reforms will continue to rebalance supply and demand to help the industry to develop," said Zhou Lisha, a researcher at the State-owned Assets Supervision and Administration Commission's research center.