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Technical Sales: Tracy Lee Once we have received sufficient information, we will provide a quotation within a week. If the quotation is acceptable, We will have a sample made and shipped to required destination. Upon approval of sample, we will have the product made and shipped. The time from acceptance of quotation until receipt of sample is usually 2-4 weeks. The time from approval of sample until receipt of production for the first order is usually 120-150 days.Subsequent orders are usually 70-100 days.

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Tracy A. Lee

111 NE 11th Street   Map
Grand Prairie, TX 75050
Tel: (972) 602-1478
Fax: (972) 660-2845
tlee@firstexind.com

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News from the Import Industry

March 31, 2008

China Minmetals Development 2007 - Profit Up 88% on Domestic Demand

BEIJING, March 30 (Xinhua) -- China Minmetals Development Co., a listed subsidiary of the state-owned metal trader China Minmetals Corp., said that its net profits rose 88 percent in 2007, driven by domestic business.

Net profits were 1.06 billion yuan (149.7 million U.S. dollars)last year, with earnings per share of 1.29 yuan, the company said in its 2007 annual report.

Revenue rose 11 percent to 85 billion yuan, with domestic customers accounting for 70 percent of the total.

Changing tax policies slowed its steel exports in 2007, while strong domestic demand drove up domestic prices -- and raw material imports.

Since last April, China has cut export tax rebates and increased export duties four times, in addition to putting some steel products under an export licensing system. These steps were intended to help rationalize the industry and curb the expansion of production capacity.

Exports of rolled steel grew 45.8 percent to 62.65 million tons in 2007, but the growth rate was 63.7 percentage points less than the year-earlier level, according to customs figures.

The Shanghai-listed company said that restructuring would bring new opportunities for its development. It forecast revenue could reach 92 billion yuan in 2008.

Editor: Pliny Han

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