LX International said on the 5th that third-quarter sales were 4.5077 trillion won and operating profit was 64.8 billion won. Those figures fell 1.2% and 58.1%, respectively, from a year earlier. Results declined as resource and logistics market conditions worsened.
The price of Australian coal (NEWC), which was $140 per ton (t) in the third quarter of last year, fell to $109 in the third quarter of this year, and Indonesian coal (ICI4) declined from $52 to $42. The Shanghai Containerized Freight Index (SCFI), which reflects ocean freight rates, dropped from 3,073 points to 1,482 points in the same period.
Compared with the second quarter, sales and operating profit increased 17.7% and 17.8%, respectively.
A LX International official said, "The Indonesian nickel mine acquired last year plans to maximize profitability by increasing output and expanding infrastructure. In addition to nickel, we will diversify our resource portfolio into future promising minerals such as copper and bauxite."