The non-ferrous industry is expected to recover from the weak global economic growth and the slowdown of the domestic economy in the third quarter, which will cause the non-ferrous industry to face the dual pressure of “internal and external problemsâ€. With the recovery of the domestic economy in the second half of the year, industry experts generally believe that the second quarter of this year will be the low point of the performance of the non-ferrous industry, and the third quarter of the year will have an increase year-on-year.
"Inside and outside troubles" dual-pressure industrial growth in April increased by 9.3% year-on-year, the lowest since May 2009. Due to the high correlation between the growth rate of industry and the growth rate of GDP, the decline in industrial growth shows that the growth of the real economy is sluggish, and the demand growth of the industry as a whole has declined.
Liu Libin, vice president of the Henan Nonferrous Metals Industry Association, recently said publicly that the idle aluminum production capacity in China’s largest aluminum production province, Henan Province, has reached approximately 700,000 tons in recent months, which also indicates that the slowdown in domestic economic growth has weakened The ability to absorb goods. Liu Libin said that by the end of this year, the province’s idle capacity will total 1.2 million tons, accounting for more than a quarter of the province’s aluminum production capacity.
In May, the overall operating rate of domestic wire and cable enterprises was 73.43%, a decrease of 0.81 percentage points from the previous quarter and a decrease of 11.67 percentage points from the same period of last year. The relatively low operating rate is mainly due to the weak investment in downstream power supply and infrastructure construction. In addition, the sharp correction in copper prices also delayed the cable procurement plan for downstream companies.
China imported 272,900 tons of refined copper in April, the lowest since last August. The copper processing industry, which mainly relies on imports of raw materials, has lowered its purchasing sentiment.
The European debt problem continues to ferment, and the global economic growth shows a weakness, but also make the performance of the nonferrous metals industry companies under pressure. According to data released by the General Administration of Customs, in April, China's rare earth metal exports were 387 tons, a year-on-year decrease of 78.7%.
In the third quarter or the turning point of ushering in performance, domestic and international demand slowed down, and the profits of non-ferrous industry companies were affected. According to the latest state-owned enterprise operations announced in April by the Ministry of Finance, from January to April, state-owned enterprises realized a total operating income of 127,160.10 billion yuan, a year-on-year increase of 12.4%, which was a 5.6% drop from the previous month in March. From January to April, the industries with large year-on-year declines in profits were traffic, chemical, building materials, and non-ferrous industries.
In the first quarter of 2012, listed companies in the nonferrous metals industry realized a total net profit of 6.532 billion yuan, a year-on-year decrease of 14.49% and an increase of 49.8% from the previous quarter. "The base metal prices have fallen all year-on-year, with an average decline of about 10%, which is the main reason for the decline in performance." Donghai Securities pointed out in its latest report.
Compared to the first quarter of last year, the base metals prices fell all year-on-year year-on-year, with the largest decrease being nickel, which was a decrease of 47.92%. Second, copper, zinc, lead, tin and aluminum fell by 21.19%, 18.95%, 10.59%, and 9.02 respectively. % and 4.16%. The price of gold increased by 17.94% year-on-year; for small metals, the average price of rare earths rose by about 40%, and the prices of zirconium, titanium and tungsten rose by 24.56%, 17.66% and 9.99% respectively year-on-year. The molybdenum, antimony, cobalt, antimony, and magnesium decreased by 20.68%, 17.12%, 22.08%, 9.87%, and 5.29%, respectively.
“Compared to the average price in the second quarter of last year, the prices of almost all varieties have declined, mainly because the prices of various metals reached a high point in the second quarter of last year, and the base number is relatively high. The second quarter will be the low point of the industry’s performance year-on-year. With the arrival of the third quarter, the decline in base figures in 2011 will continue to increase year-on-year, and the base metals that are expected to grow year-on-year will be copper and aluminum; those that have rebounded and are at high levels include tungsten, zirconium, titanium and tantalum.â€
CITIC Securities also pointed out in its latest report that at present, the overall increase in metal prices is not obvious, but from the survey, the second quarter operating capacity, production and other aspects of the chain should rebound. "It is expected that business performance in the second quarter will improve compared to the first quarter."
"Inside and outside troubles" dual-pressure industrial growth in April increased by 9.3% year-on-year, the lowest since May 2009. Due to the high correlation between the growth rate of industry and the growth rate of GDP, the decline in industrial growth shows that the growth of the real economy is sluggish, and the demand growth of the industry as a whole has declined.
Liu Libin, vice president of the Henan Nonferrous Metals Industry Association, recently said publicly that the idle aluminum production capacity in China’s largest aluminum production province, Henan Province, has reached approximately 700,000 tons in recent months, which also indicates that the slowdown in domestic economic growth has weakened The ability to absorb goods. Liu Libin said that by the end of this year, the province’s idle capacity will total 1.2 million tons, accounting for more than a quarter of the province’s aluminum production capacity.
In May, the overall operating rate of domestic wire and cable enterprises was 73.43%, a decrease of 0.81 percentage points from the previous quarter and a decrease of 11.67 percentage points from the same period of last year. The relatively low operating rate is mainly due to the weak investment in downstream power supply and infrastructure construction. In addition, the sharp correction in copper prices also delayed the cable procurement plan for downstream companies.
China imported 272,900 tons of refined copper in April, the lowest since last August. The copper processing industry, which mainly relies on imports of raw materials, has lowered its purchasing sentiment.
The European debt problem continues to ferment, and the global economic growth shows a weakness, but also make the performance of the nonferrous metals industry companies under pressure. According to data released by the General Administration of Customs, in April, China's rare earth metal exports were 387 tons, a year-on-year decrease of 78.7%.
In the third quarter or the turning point of ushering in performance, domestic and international demand slowed down, and the profits of non-ferrous industry companies were affected. According to the latest state-owned enterprise operations announced in April by the Ministry of Finance, from January to April, state-owned enterprises realized a total operating income of 127,160.10 billion yuan, a year-on-year increase of 12.4%, which was a 5.6% drop from the previous month in March. From January to April, the industries with large year-on-year declines in profits were traffic, chemical, building materials, and non-ferrous industries.
In the first quarter of 2012, listed companies in the nonferrous metals industry realized a total net profit of 6.532 billion yuan, a year-on-year decrease of 14.49% and an increase of 49.8% from the previous quarter. "The base metal prices have fallen all year-on-year, with an average decline of about 10%, which is the main reason for the decline in performance." Donghai Securities pointed out in its latest report.
Compared to the first quarter of last year, the base metals prices fell all year-on-year year-on-year, with the largest decrease being nickel, which was a decrease of 47.92%. Second, copper, zinc, lead, tin and aluminum fell by 21.19%, 18.95%, 10.59%, and 9.02 respectively. % and 4.16%. The price of gold increased by 17.94% year-on-year; for small metals, the average price of rare earths rose by about 40%, and the prices of zirconium, titanium and tungsten rose by 24.56%, 17.66% and 9.99% respectively year-on-year. The molybdenum, antimony, cobalt, antimony, and magnesium decreased by 20.68%, 17.12%, 22.08%, 9.87%, and 5.29%, respectively.
“Compared to the average price in the second quarter of last year, the prices of almost all varieties have declined, mainly because the prices of various metals reached a high point in the second quarter of last year, and the base number is relatively high. The second quarter will be the low point of the industry’s performance year-on-year. With the arrival of the third quarter, the decline in base figures in 2011 will continue to increase year-on-year, and the base metals that are expected to grow year-on-year will be copper and aluminum; those that have rebounded and are at high levels include tungsten, zirconium, titanium and tantalum.â€
CITIC Securities also pointed out in its latest report that at present, the overall increase in metal prices is not obvious, but from the survey, the second quarter operating capacity, production and other aspects of the chain should rebound. "It is expected that business performance in the second quarter will improve compared to the first quarter."
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