Non-ferrous metal net profit has negative growth

In the recent period, influenced by the continuous rise of external disks, domestic related products strengthened in linkage, copper and zinc were obvious, aluminum performance was normal, and lead lateral area fluctuates. The analysis believes that due to continuous rise of *** and sluggish domestic non-ferrous metal industry, many factors are constrained. The metal inside the plate is weak. However, due to the stable and continuous tone of the economic policy, it is expected that the strengthening of urbanization and other advantages will continue to be observed. The stimulation of the deposits and reserves will also be absorbed as the price increases, and the trend of the sector will become stronger and weaker. .

In macroeconomic terms, the US manufacturing purchasing managers’ index rose to 52.8 in November, hitting a six-month high, and US construction spending in October increased by 1.4%, which is higher than the market’s forecast of 0.5%. China’s November purchasing managers’ index rose to 50.6, a record high for 7 months. The HSBC China’s purchasing managers’ index climbed to 50.5 in November from 49.5 in October. China’s economic data has re-entered the expansion phase. In the 17th month of the euro zone, manufacturing activity in the 17 countries contracted for the 16th consecutive month. In November, the contraction rate of manufacturing activity in the euro zone slowed to an eight-month low. Therefore, the macroeconomic situation shows that China and the United States are in a good position and the euro area is in a bearish contrast.

The background is that the price of non-ferrous metals has been approaching the cost indefinitely, and some varieties have even fallen below the cost, forming an upside down trend where the price is lower than the cost. Taking aluminum as an example, the production cost of electrolytic aluminum requires about 1.9 tons of aluminum oxide for production of 1 ton of electrolytic aluminum, 14500 degrees of electricity, and the cost of synthetic aluminum production is about 15300 yuan to 15700 yuan per ton, and some are even higher. The current aluminum price is only 15,200 yuan / ton, no doubt has fallen into the production cost of aluminum smelting enterprises, if calculated according to 15,700 yuan / ton production cost, aluminum-smelting smelting companies will produce a loss of nearly 500 yuan per ton. The market reflects that this year the aluminum industry is in a state of complete loss, especially electrolytic aluminum and alumina losses are more serious. The lead-zinc products also caused the industry to reduce production due to sluggish industries and serious losses. Although Guangxi has more lead and zinc companies, only three are still producing.