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Jiangxi Copper's annual net profit rises-18th China(Guangzhou)Int¡¯l Non-Ferrous Metal£¨Copper£©Exhibition
4/1/2017 Copper exhibition -non-ferrous metals expo |
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Reuters reported that China''s biggest integrated copper producer Jiangxi Copper Co Ltd posted its first rise in annual net profit in five years, helped by cost controls and higher metal prices.
Jiangxi Copper''s net profit rose 23.6% to 787.5 million yuan (USD 114.34 million) in 2016, it said in a filing to the Shanghai stock exchange. The last time the producer recorded a net profit rise was in 2011.
Jiangxi Copper said that "Even though non-ferrous metal prices were increasing steadily, there were still challenges in the market. However, we implemented a series of effective measures to resolve the issues to achieve our operational targets."
China''s non-ferrous metals producers have been reporting better financial results in 2016, helped by recovering global prices, which rose by around 18 percent during the year, and the country''s increase in infrastructure building.
-18th China(Guangzhou)Int¡¯l
Non-Ferrous
Metal£¨Copper£©Exhibition
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