China Commodity Marketplace
19th April, China Moly published its Q1 report, forecasting net profits between RMB 250 mln to RMB 350 mln for Q1 2019, down 77.4% or 83.9% on-year. The decline can be attributed to a drastic decline in prices of copper and cobalt, which are major products for the company.
Despite a poor record in Q1 2019, China Moly achieved its best performance for several years in 2018. According to the report, China Moly made operating income of RMB 26 bln in 2018, an increase of 7.52% on-year; and net profits attributable to shareholders of listed companies was RMB 4.6 billion, up 70% on-year.