Minmetals Expects Strong Profits From Boom Year for Metals

What’s new: China Minmetals Corp. estimated that its net profit grew 10% on what it forecast to be record-breaking revenue in 2021, a banner year for the prices of industrial metals like copper and aluminum.

In a Wednesday notice (link in Chinese), China Minmetals estimated its 2021 operating revenue jumped 20%, but did not give a specific totals for profit or revenue. The company did note that last year marked the first time its operating revenue exceeded 800 billion yuan ($125.5 billion).