19 AUGUST 2013Shanghai Metal Market
Henan Zhongfu widens loss in H1 on lower aluminium prices
Edited by : AL CIRCLE
1 min read
Leading Chinese aluminium maker Henan Zhongfu Industrial Co. widened loss in this year’s first half on lower prices of the lightweight metal.
Henan Zhongfu made a loss of 197.4 million yuan ($32 million) from January to June, comparing to a loss of 43 million yuan a year ago, the company told Shanghai Stock Exchange today.
In the first half, ``domestic economic growth notably slowed from past years, aluminium prices continued to hover low, primary metal producers were largely in operating losses…’’Henan Zhongfu said.
Still, ``growth potential for downstream demand remains, while the government endeavors to dissolve aluminium’s overcapacity,’’ it added.
Henan Zhongfu made a loss of 197.4 million yuan ($32 million) from January to June, comparing to a loss of 43 million yuan a year ago, the company told Shanghai Stock Exchange today.
In the first half, ``domestic economic growth notably slowed from past years, aluminium prices continued to hover low, primary metal producers were largely in operating losses…’’Henan Zhongfu said.
Still, ``growth potential for downstream demand remains, while the government endeavors to dissolve aluminium’s overcapacity,’’ it added.
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