Grupo Mexico’s 3d-qtr. net hit by volatile metals tags
Oct 26, 2012 | 09:29 AM
| Samuel Frizell
Tags
Grupo Mexico,
copper prices,
zinc prices,
quarterly earnings results,
Daniel Muniz,
Samuel Frizell
NEW YORK — Grupo México SAB de CV’s third-quarter net income plummeted 53.8 percent year on year to $320.2 million on sales that fell 11.8 percent to nearly $2.4 billion.
The Mexico City-based miner said volatile metals pricing was one factor behind the lower earnings. In the third quarter, average copper prices fell 13.4 percent to $3.525 per pound and average zinc prices were down 15.2 percent to 85.68 cents per pound, the....
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