China’s Leading Magnesium Producer Nearly Doubles Net Profit

Shanghai Metals Market reports that China’s leading magnesium producer Nanjing Yunhai Special Metals Co. nearly doubled its net profit in the first half from a year ago on increased sales of the metal alloys.

As quoted in the market news:

The company’s net profit stood at 10.7 million yuan ($1.7 million) from January to June, 97% higher year-on-year, Nanjing Yunhai told Shenzhen Stock Exchange today.

It expected its net profit in the first nine months to rise between 10% to 60% year-on-year to between 16.1 million to 23.4 million yuan, it added.

Click here to read the full news story in Shanghai Metals Market