China’s largest copper producer profit in thirteen months, a new low – Sohu Finance

Taking the first half profit biggest copper production Chinese hit thirteen year low – Sohu finance by copper prices fell by the impact of the largest copper producer in Jiangxi copper industry profits decline for four consecutive years, the profit of 470 million yuan, the lowest since 2003 the first half of this year. The largest copper producer in Jiangxi copper (600362.SH 00358.HK) to produce the worst since 2003 the first half of the performance of a single. In August 24th, Jiangxi copper announcement shows that the first half revenue 90 billion 200 million yuan, an increase of 19.4%, but net profit of only 470 million yuan, down 47.19% over the same period. Jiangxi is the largest copper concentrate Chinese copper producer, annual output reached more than 200 thousand tons. Low grade copper ore is screened and reaches a certain quality index, which is called copper concentrate, can be directly used for smelting refining of cathode copper and other products. With the downside, Jiangxi copper over the past four years, the profit level showed a declining trend, from 6 billion 550 million yuan in 2011 fell to 630 million yuan last year, the first half of this year is a continuation of the decline. The lowest value of Jiangxi copper semi annual profit 200 million yuan, also dating back to 2003. The price of copper in the peak in 2013 has reached about $8286 tons, down by the impact of the global economy, the non-ferrous metal prices fell to $6289 at the end of 2014 tons, is currently maintained at $4800 a ton, which directly affects the performance of copper enterprises. Many domestic copper prices have been a loss in 2015. The largest producer of copper cathode of Tongling nonferrous metals (000630.SZ) loss of 600 million yuan last year, the 2015 production of cathode copper 1 million 315 thousand tons, more than 1 million 250 thousand tons of copper in Jiangxi. Tongling nonferrous metals in the first half performance forecast shows that net profit for the first 6 months of this year is expected to be -6000 million, compared with the same period last year, a substantial reduction of 260 million yuan in. Jiangxi copper said the current copper prices relatively low in the past ten years, with countries to take a relatively loose monetary policy to stimulate economic growth, the expected short-term prices will be supported or rebound. Jiangxi copper will choose bottom copper resources to promote the internationalization of the process of the company. Copper concentrate in the production of concentrated in Chile, Peru and other South America, the domestic copper resources are relatively scarce, ore grade is relatively low. Every year China requires a lot of imports of copper resources including copper concentrate, copper, Jiangxi copper, predict future domestic copper concentrate the external dependence will be further improved. Although Jiangxi copper copper reserves in the country for the first time, but the company also admitted that in recent years, with the expansion of smelting capacity, dependent on the increase of raw material. Jiangxi copper copper reserves disclosure, the company currently has 100% ownership of 10 million 360 thousand tons, including the largest copper mine of Dexing copper mine, reserves of copper and other joint company controlled by about 4 million 790 thousand tons (according to Jiangxi copper’s equity calculation). Jiangxi copper company has set up a joint Ccb International Asset Management Ltd disclosure, Scarlett in the Cayman Islands in the first half of the year.相关的主题文章:

Comments are closed.