SHANGHAI, Aug. 25 (SMM) – China’s leading copper producer Jiangxi Copper Corporation reported a 25 % decline in its net profit in the first half of 2015 due mainly to falling copper prices, according to the company’s financial report.
The company created a net profit of 896.36 million yuan ($139.5 million) in the first six months of the year.
Jiangxi Copper produced 581,700 tonnes in H1, rising by 2.23％ year-on-year, and its copper concentrate yields were 102,900 tonnes (Cu content), on par with a year ago.
“Despite the growing production, the slumping copper prices have resulted in a sharp decline in profits,” the company said in the report.
As for the outlook in the rest of the year, Jiangxi Copper holds that prospect of base metals market is still pessimistic due to growing supply, anemic demand and the strong dollar.
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