China to Become Net Zinc Exporter in 2009, Morgan Stanley Says

HONG KONG, July 3 -- Hunan Nonferrous Metals (HNC) (2626.HK), a leading Chinese zinc and lead producer, said on Thursday its unaudited group results for the six months to June may show a loss due to low product prices and unsatisfactory demand.
&nbsp;&nbsp;&nbsp; China is the world's top producer of zinc and lead, as well as tungsten and antimony, which HNC also produces.
&nbsp;&nbsp;&nbsp; The company did not specify a figure for the expected loss, but said that for the comparative year-earlier period it posted an unaudited net profit of 190.5 million yuan.
&nbsp;&nbsp;&nbsp; In May it said it was considering borrowing 1.2 billion yuan ($176 million) in bank loans to build stocks of metals produced by its plants, a move that could drive up Chinese prices of its products.
&nbsp;&nbsp;&nbsp; (Source: Reuters) 
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