24 MARCH 2014AlCircle.com
Shandong Nanshan Aluminium reports a gain of 8.66% YoY in 2013
Edited by : AL CIRCLE
1 min read
Shandong Nanshan Aluminium Co. reported an 8.66% YOY gain in their net profit in the year 2013 and also cited increasing competition from South America and South East Asia with global economy staying weak.
The company made a total profit of 793.63 mn yuan ($128.74 mn) in 2013 or 0.41 yuan per share.
Aluminium prices on LME were in a discount of over $200 per ton to Shanghai Futures Exchange prices for most of the time in 2013, leading to `a continuous contraction in the overseas market’’ for Chinese export sales, Shandong Nanshan said in its financial report.
At the same time, the aluminium fabricators in Malaysia, Vietnam Brazil and Burma hastened the development and also their encroached market shares all around, it said.
The production of the company and sales of extrusion products saw a rise by 7.12% than what it was before 2013, the hot-rolled products gained by 23.41% and there was a rise of 69.46% in cold-rolled products climbed.
The company made a total profit of 793.63 mn yuan ($128.74 mn) in 2013 or 0.41 yuan per share.
Aluminium prices on LME were in a discount of over $200 per ton to Shanghai Futures Exchange prices for most of the time in 2013, leading to `a continuous contraction in the overseas market’’ for Chinese export sales, Shandong Nanshan said in its financial report.
At the same time, the aluminium fabricators in Malaysia, Vietnam Brazil and Burma hastened the development and also their encroached market shares all around, it said.
The production of the company and sales of extrusion products saw a rise by 7.12% than what it was before 2013, the hot-rolled products gained by 23.41% and there was a rise of 69.46% in cold-rolled products climbed.
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