[Minor metal] SMM Forecast - Domestic Cobalt Market

SHANGHAI, July 31 (SMM) -- Shenzhen Stock Exchange-listed Luoping Zinc and Electricity Co. Ltd., a major Chinese zinc smelter based in Yunnan Province, reported a net profit of RMB 1.73 million ($252,566) in the first half of 2009, compared to a net loss of RMB 6.59 million ($964,274) in the same period of last year; earnings per share are RMB 0.01. Besides, the company predicts the net profit of the first three quarters in 2009 will be RMB 4-8 million.
&nbsp;&nbsp;&nbsp; Luoping Zinc and Electricity Co. Ltd., released interim report on July 31st. The company achieved total operating revenue of RMB 298,218,900 during 1H 2009, down 35.02% YoY, with operating profit of RMB 4,711,500, total profits of RMB 5,359,600, net profit of RMB 1,725,600 and earnings per share of RMB 0.01.
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