Korea Zinc Sees 600 Billion Won Profit Boost in Q2

Korea Zinc is expected to post an operating profit of nearly 600 billion won in the second quarter, according to securities firms. The company's sales and operating profit are projected to increase by 56.9% and 130.9%, respectively, from a year ago.

The rally in silver prices that boosted first-quarter results has slowed down, but analysts say higher zinc and copper prices, as well as a stronger won-dollar exchange rate, have lifted earnings. Zinc prices rose 7.1% from the prior quarter, while copper prices climbed 3.8%, and the won-dollar exchange rate increased by 1.9%.

Shinhan Investment & Securities estimated that Korea Zinc's second-quarter copper sales volume will reach 15,700 tons, a 107% increase from the previous quarter. Copper revenue is expected to surge from 108 billion won last year to 307 billion won this year, about three times higher.