China Minmetals Development, (CMD) China's largest trader of raw materials, reported a 350% profit increase in the first quarter of 2004. Strong demand and rising prices for raw materials drove the jump in profits, which totaled US$35.7 million ï¿½ an increase of 72% over the fourth quarter of 2003. The company said that profit growth may decrease in the second half of 2004 as a result of government attempts to cool down the economy.
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