SHANGHAI, Apr. 19 (SMM) – Chengdu Huaze Cobalt & Nickel Material Co. expects to post a loss of 20-30 million yuan during the first quarter of 2016, according to company’s statement.
The loss is preliminary estimation by the company’s finance department.
The company attributes the loss mainly to falling output and sales, and stable costs during the report period.
It is an off-season for production at Pingan Xinhai Resource Development, a subsidiary of Huaze.
The year-on-year increase in losses is largely because the company has adjusted its trade structure in the face of volatile base metal market, resulting in lower trading volumes.
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