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Xinjiang Xinxin to Post Fall in H1 Profits on China's ``Structural Adjustment''
Jul 18,2013 14:18CST
company news
Source:SMM
Major nickel producer Xinjiang Xinxin Mining Industry Co. is expected to post a big fall in first-half profits partly due to ``structural adjustment and slower growth’’ in China

SHANGHAI, Jul. 18 (SMM) – Major nickel producer Xinjiang Xinxin Mining Industry Co. is expected to post a big fall in first-half profits partly due to ``structural adjustment and slower growth’’ in China.

Net profits for the six months ended on June 30 ``is expected to decrease significantly’’ from a year ago, Xinjiang Xinxin told Hong Kong Stock Exchange on July 17.

Averaging selling prices of the company’s nickel and copper cathodes decreased by around 8.9% and 4%, respectively, from a year ago, it said, adding its output only decreased slightly.

The company believes the continuous decline in metals’ prices ``was attributable to the European debt crisis as well as the structural adjustment and slower growth of economy in the PRC’’, it said.
 

Xinjiang Xinxin Mining Industry Co.
2013 H1 results

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