Net Profits of West Mining Slump 64.64% YoY in H1 on Slipping Lead Prices

Published: Aug 20, 2015 17:37

Save

West Ming gained net profits of 41.63 million yuan in January-June this year, down 64.64% YoY owing to falling lead prices, SMM reported.

SHANGHAI, Aug. 20 (SMM) – West Mining gained net profits of 41.63 million yuan in January-June this year, down 64.64% YoY owing to falling lead prices, SMM reported.

Average prices of lead and copper concentrate, gold and silver dropped 6 percentage points, 14 percentage points, 5 percentage points and 16 percentage points, respectively, which was behind the falls in net profits. Net profits made by lead products tumbled 8.24 percentage points to 36.43%, the largest drop among other metals, SMM learnt.

SMM #1 lead prices quoted 12,972.9 yuan per tonne in the first half of 2015, down 6.5 percentage points from 13,873.74 yuan per tonne in the same period last year. Lead concentrate prices averaged 11,123 yuan per tonne, slipping 8.8 percentage points YoY to 12,207 yuan per tonne.

Business profits totaled 0.42 billion yuan for lead products in H1, growing 17.99 percentage points YoY. Lead concentrate output came in at 21,415 tonnes in January-June, achieving 97.44% of output target. Primary lead production totaled 2,270 tonnes, only obtaining 55.37% of output target. This was mainly because lead smelters cut production to avoid further losses.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

West Mining lead prices copper zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

11 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

11 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

11 hours ago