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31 octubre 2006

Boliden Q3 pretax jumps 3-fold but misses consensus

Strong global growth is expected to continue in the immediate future, helping to ensure a continued healthy demand for metals,' said Boliden.

The average price of copper was 7,670 usd a tonne during the third quarter, up 104 pct from a year earlier, while the average price of zinc, at 3,363 usd a tonne, was up 159 pct from a year earlier.

The sharp increase in sales and prices was caused by strong demand from China where industrial production grew by 15.8 pct during the third quarter alone.

Boliden said there is still a global shortage of zinc, with LME zinc stocks falling by 35 pct during the third quarter to 140,000 tonnes.

'Stocks have also continued to decline during the early part of Q4,' said Boliden. (Y tanto!! ya estamos por debajo de las 110,000)

Boliden said its cash flow from operating activities improved substantially to 5.063 bln skr from 1.593 bln during the first nine months of the year, due, it said, to its improved result.