SHANGHAI, Mar. 23 (SMM) - Jiangxi Copper’s 2015 earnings report shows its profit belonging to the parent company slid 77.65% YoY to 637 million yuan in 2015, according to cnmn.com.
Falling metal prices due to oversupply caused the company’s profit to fall for the fourth straight year.
Oversupply and a strong US dollar pushed down copper prices in 2015, the company says. Demand from China, the largest copper consuming country in the world, weakened due to domestic slowdown.
Its business revenue was 185.78 billion yuan during report period, down 6.56% YoY.
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