Bloomberg reported that Jiangxi Copper Company of China Q1 profit more than doubled after metal prices rose.

The Guixi, Jiangxi province based company said that net income rose to CNY 1.6 billion or CNY 0.46 per share in the three months ended March 31, from CNY 697.5 million.

Mr Huang Dongfeng assistant to the GM at Jiangxi said recently that Jiangxi Copper is benefitting after the metal reached a record USD 10,190 per tonne in February. Chinese copper demand will grow by as much as 12% this year.

(Sourced from Bloomberg.net)