26.03.2015 - China’s top copper producer continues alarming slump
Jiangxi Copper, China's top producer of the metal, posted a 20% drop in net profit for 2014, a third consecutive annual decline due to weak metal prices, and forecast a tough outlook for base metals due to overcapacity. The company expects copper prices to stay weak, pressured by a buoyant US dollar as the Federal Reserve moves towards tightening monetary policy. Net profit fell to 2.8 billion yuan (RM1.6 billion) last year from 3.6 billion yuan in 2013, the company said in a filing to the Shanghai stock exchange on Wednesday. ..............................................Full Article: Source
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