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Jiangxi Copper 2020 Cu output up 5.5%, but profits down

ABSTRACT

Jiangxi Copper Co, China’s leading copper producer headquartered in East China’s Jiangxi province, saw its copper cathode production rise 5.5% on year to 1.6 million tonnes in 2020, but its net profit declined 5.9% on year, it stated in its annual report released on March 30. The smelter cited the impact to its business from the COVID-19 outbreak during January-March last year, as well as the downward trending treatment charges (TCs).
In 2020, Jiangxi Copper’s net profit reached Yuan 2.3 billion ($350.5 million), and among the four quarters last year, Q1 posted the lowest net profit – just Yuan 160.3 million – and accounting for only 6.9% of the year’s total, Mysteel Global calculated based on the report. “The unexpected virus outbreak

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