ZHUZHOU, July 12 -- Zhuzhou Smelter Group Co Ltd's forecasted the net loss for the first half of this year reaches RMB 280 million, compared with RMB 14.69 million-net profit it reaped in the corresponding period of 2009, according to a statement filed with the Shanghai Stock Exchange.
The company, which is principally engaged in manufacture and distribution of nonferrous metal products and chemical products, saw its zinc prices decline to about RMB 14,000 to RMB 15,000 per ton in April and May period from previous RMB 18,000 per ton.
Most of other nonferrous metal firms also suffered a deficit in the first half, and the estimated net loss of Yunnan Luoping Zinc & Elec. Co Ltd and of China Nonferrous Metal Ind. FE & Construction both exceeded RMB 10 million, according to market analysts.