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China Molybdenum’s Q1 net profit surges 125% on year

ABSTRACT

Shanghai- and Hongkong-listed China Molybdenum Co (CMOC) saw its net profit for this year’s January-March quarter jump by 124.8% on year to around Yuan 1 billion ($154.6 million), mainly thanks to the marked rises in copper and cobalt prices, according to the company’s Q1 report released on April 28.
Also contributing to the on-year rises in Q1 net profits was the fact that operations of almost all Chinese enterprises including CMOC during last year’s first quarter were interrupted by the country’s battle against the spreading COVID-19 outbreak, Mysteel Global noted. During January-March, the production of some of the company’s major

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