Nonferrous Metals May Drop 20% on Average in 2012

(Corrects headline, first paragraph to show decline may be 20 percent.)

Nonferrous metals prices may drop by about 20 percent on average this year, China Minmetals Corp. president Zhou Zhongshu told reporters today in Beijing.

The company will seek to develop base metal resources overseas while focusing on minor metals domestically, Zhou said.

To contact Bloomberg News staff for this story: Helen Sun in Shanghai at hsun30@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net