Jiangxi Copper Profit Declines as Prices Fall on Waning Demand
This article is for subscribers only.
Jiangxi Copper Co., China’s biggest producer of the metal, said first-quarter profit fell 9.6 percent as weakening demand dragged prices lower.
Net income dropped to 1.43 billion yuan ($227 million), or 0.41 yuan a share, from 1.59 billion yuan, or 0.46 yuan, a year ago, the Guixi, Jiangxi province-based company said in Shanghai stock exchange filing yesterday, citing Chinese accounting standards. Sales climbed 14 percent to 28.8 billion yuan.