China Zhongwang 18% Gross Profit has Hit the Bottom

[China Aluminum Network] August 16, China Zhongwang is still subjected to U.S. anti-dumping and anti-subsidy policy with 80% or 0.412 billion Yuan less profit. Nevertheless, net profit of the second quarter has shown signs of revival as increasing by 50% to 0.247 billion Yuan. Vice president of China Zhongwang, Lu Changqing yesterday expresses that they won’t give up American market which serves as a blueprint of expanding domestic market.

Lu Changqing points out that they have begun to export some deep processed product to America. Average price reaches 60,000 Yuan/Ton higher than average unit price 22,678 Yuan/Ton in the first half year. He also anticipates that the products exportation will see remarkable improvement in the next year.

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