China Hong Qiao Group: Aluminum Price Keep Stable in Second Half Year

(China Aluminum Network) The gross margin of China Hong Qiao Group decreased 3.4% yearly in the first half year to 32.3%, Zhang Bo the executive director and president of the company explained decreasing of coal price and rising of spontaneous power ratio lead to declined in power cost.

Zhang Bo said that now aluminum price was 15.5 thousand yuan per ton in domestic, likely to keep stable in the second half year. With the help of technology costs control company’s gross margin may keep stable also.

He also said that company sales increased 17.4% while the expense of distribution and marketing also increased over 80%. Zhang Ruilian the vice president and financial manager stated owing to the increasing of freight, if oil price still rise in the second half year thus the freight will up further. Zhang Bo pointed out freight occupied small ratio of the whole cost will not impact company’s whole profitability.

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