Sixty-nine of the country’s leading 73 non-ferrous companies recorded a combined loss of 3.8 billion yuan ($556 million) in the Jan-Feb period. However, the average monthly net loss, or 1.9 billion yuan, is much lower than the loss of 5.9 billion yuan major metal companies recorded in December 2008, Kang said, adding 53 metal companies saw their losses narrow during the first two months of this year.
Still according to the association, the industry earned a profit of about 80 billion yuan for the whole of 2008, down 45 percent compared with 2007.
In the fourth quarter of last year, 73 major enterprises in the sector reported a combined loss of 12.75 billion yuan, showing a rising trend of monthly losses.
CNIA said the sector’s core business revenue is expected to rise 10 percent to 2.1 trillion yuan in 2009.
Source : Konaxis
