Shanxi Coking’s net profit down 30 percent due to weak coke prices, lower production

Tuesday, 29 October 2019 10:03:21 (GMT+3)   |   Shanghai

Shanxi Province-based Chinese state-owned coal mining conglomerate Shanxi Coking Co., Ltd has announced that it has registered an operating revenue of RMB 5.25 billion ($0.74 billion) in the first nine months of the year, up 0.89 percent year on year, while posted a net profit of RMB 899 million ($127.1 million), down 30.14 percent year on year.

Shanxi Coking stated that the rises in raw materials and declines in its products output and prices have contributed to the drop in its net profit in the given period.

In the third quarter of the year, Shanxi Coking produced 720,445 mt of coke, down 8.94 percent compared to 791,182 mt recorded in the second quarter, while its coke output in the second quarter was up 29.49 percent compared to 611,010 mt recorded in the first quarter of the year. 

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