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Metal producer Dowa to beat profit guidance on higher prices

Smelting operations improve while mining brings higher earnings

Dowa Holdings' zinc smelting complex in Akita, Japan.

TOKYO -- Japanese metal producer Dowa Holdings's pretax profit for fiscal 2017 is expected to surpass the estimate by about 1 billion yen ($9.44 million) thanks to stronger metal prices.

Group profit is anticipated to climb 3% to roughly 37.5 billion yen for the full year ending March 31, a reversal from the slight decline anticipated earlier. Sales are seen rising 12% to about 460 billion yen. In February, Dowa assumed an average zinc price of $2,700 per ton for the January-March quarter. However, prices for three-month zinc futures are averaging over $3,400 on the London Metal Exchange.

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