Nickel Asia Income Plunges 60 Per cent from January to September-Shanghai Metals Market

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Nickel Asia Income Plunges 60 Per cent from January to September

Industry News 09:56:48AM Nov 08, 2016 Source:SMM

SHANGHAI, Nov. 8 (SMM) - Nickel Asia Corp. (NAC) reported a 60 percent drop in its attributable net income in the first nine months of 2016, according to the company’s report. 

The plunge, from P2.49 billion to to P980 million, was due mainly to slump in ore prices and lower volume of sales, the company said

NAC sold an aggregate 15.2 million wet metric tons (WMT) of nickel ore in the first nine months of 2016, less than 16 million WMT in the same period last year. 

Gerard Brimo, NAC president and chief executive officer, expressed hope nickel prices will improve in the next months.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

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

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SMM #1 Nickel
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100200.0
-1250.0
(-1.23%)
#1 JinChuan Nickel
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101225.0
-1175.0
(-1.15%)
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99175.0
-1325.0
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JinChuan B&C
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2800.0
150.0
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Russian nickel premium
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750.0
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(-3.23%)

Nickel Asia Income Plunges 60 Per cent from January to September

Industry News 09:56:48AM Nov 08, 2016 Source:SMM

SHANGHAI, Nov. 8 (SMM) - Nickel Asia Corp. (NAC) reported a 60 percent drop in its attributable net income in the first nine months of 2016, according to the company’s report. 

The plunge, from P2.49 billion to to P980 million, was due mainly to slump in ore prices and lower volume of sales, the company said

NAC sold an aggregate 15.2 million wet metric tons (WMT) of nickel ore in the first nine months of 2016, less than 16 million WMT in the same period last year. 

Gerard Brimo, NAC president and chief executive officer, expressed hope nickel prices will improve in the next months.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

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