Trade Resources Industry Views China's Huludao Zinc Produced 274,000 Mt of Nonferrous Metals in 2013, Down 1.4%

China's Huludao Zinc Produced 274,000 Mt of Nonferrous Metals in 2013, Down 1.4%

China's Huludao Zinc produced 274,000 mt of nonferrous metals in 2013, down a marginal 1.4% from 278,000 mt produced in 2012, the company said Friday.

Its chemical products output was 456,000 mt in 2013, up 0.7% year on year.

China Huludao Zinc's 2013 Nonferrous Metals Output Dips 1.4% on Year

The company did not provide a breakdown of its 2013 nonferrous metals output, including zinc and lead.

Huludao Zinc's silver output reached an all-time high of 60 mt in 2013, up 20% from 2012.

In a filing to the Shenzhen Stock Exchange, Huludao Zinc said it plans to produce 285,600 mt of nonferrous metals and 466,000 mt of chemical products in 2014.

The company posted a net profit of Yuan 4.17 billion ($677.2 million) in 2013, compared with a net loss of Yuan 3.48 billion in 2012. Its operating revenue for 2013 was around Yuan 4.19 billion, down 5.8% year on year.

The zinc major said it had paid off the debts through successful assets restructuring in 2013. Reduced production costs and higher recycling rate also contributed to the profit during the reporting period.

Huludao Zinc's shares were suspended from their stock market listing on May 8, 2013, following losses in three consecutive years during the 2010-12 period to comply with the exchange rule. The company said it will apply for a relist on the Shenzhen Stock Exchange as it turned a profit in 2013, subject to approvals by related authorities.

Huludao Zinc has a refined zinc capacity of 390,000 mt/year and 30,000 mt/year lead capacity.

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China Huludao Zinc's 2013 Nonferrous Metals Output Dips 1.4% on Year
Topics: Metallurgy