Jingcheng Copper raw material hedging business is losing

Jingcheng copper Industry (002171) today, in accordance with the "Company's domestic futures hedging control system", the company continued to stock the copper raw materials for the short hedging, in order to hedge copper price changes brought by the operating risk. Since late July, futures copper price increases, copper futures business continued to lose money. As of August 3, the company (including subsidiaries) of the 2010 copper futures hedging contracts accumulated close position loss of 1.3098 million yuan. At present, Jingcheng Copper continues to hold the 194 hands (970 tons) of the Copper futures contract, which has been sold out for September 2010, and 80 hands (400 tons) of the copper futures contract for the period of October 2010, and the closing price of the warehouse, whichever is the August 3, The total amount of the contract currently held is about $6.9836 million.