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Profit for non-ferrous metals industry to drop 45% in 2008

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-18 15:38

The China Non-ferrous Metals Industry Association (CNIA) predicted on Wednesday that the sector earned a profit of about 80 billion yuan ($11.69 billion) in 2008, 45 percent less than in 2007.

In the fourth quarter of last year, 73 major enterprises in the sector reported a combined loss of 12.75 billion yuan, showing a rising trend of monthly losses.

CNIA said the sector's core business revenue is expected to rise 10 percent to 2.1 trillion yuan in 2008.