Domestic iron ore enterprises benefit from decline

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Domestic iron ore enterprises benefit from decline Recently, Liu Xiaoliang, secretary-general of the China Metallurgical and Mining Enterprises Association, disclosed at the "2013 China-made Iron Ore Industry Chain Summit Forum" that since the beginning of this year, the benefits of China's large and medium-sized iron ore enterprises have dropped sharply, and investment has weakened.

Data show that in the first half of this year, the entire ferrous metal mining industry achieved a profit of 37.4 billion yuan, an increase of 4.5% year-on-year, and the main business income was 8.7%. It is worth mentioning that the above profit margin was below 10% for the first time in recent years.

It is understood that during the period from 2006 to 2012, the profit rate of the owner's business of ferrous metal mining in China has remained at around 10%, and in 2008 it was as high as 18.99%.

In addition, in the first half of this year, the profit rate of total assets of China's ferrous metal mining and selection industry also fell from 22.22% in 2008 to 4.42%, a decrease of 17.8 percentage points. At the same time, sales gross margin fell to 18.54%, the first time since 2006-2012 is less than 20%. Behind the decline in profits, it is also accompanied by an increase in the debt ratio of the industry. In the first half of 2013, its debt ratio continued its upward trend in 2012 and rose to 54.13%.

Liu Xiaoliang also pointed out that since the beginning of this year, the benefits of China's large and medium-sized iron ore enterprises have fallen sharply. It is understood that in the first half of the year, sales revenue of large and medium-sized metallurgical and mining enterprises in the country totaled 50.8 billion yuan, a year-on-year decrease of 3.01%; profits were 4.37 billion yuan, a year-on-year decrease of 39%.

However, he also stated that “the days of small and medium-sized enterprises are not so sad in the legends. In fact, compared to large-scale state-owned enterprises, the days of small and medium-sized mining companies are much too much. These companies’ management fees, taxes, environmental protection, and security Land use fees are much lower than large state-owned enterprises, but low-grade mines are another matter."

“The mine with more than 10 selections will be basically useless afterwards,” he said. The first is the cost issue. The second is the environmental issue. The damage to the environment is not the point at which profits can be made up. The industry is now in the process of developing access to the environment. There are strict requirements for comprehensive utilization.

Liu Xiaoliang further pointed out that in the first half of this year, the overall performance of the domestic ore market was as follows: the release of large-scale mine production capacity was significant, and the growth rate of small and medium-sized mines' production capacity fell sharply. “The increase in output of small and medium-sized mines was significantly reduced. In the first half of 2013, it increased by only 5.5%. Growth of 17.1%, a year-on-year decrease of 11.6%."

The data shows that the national iron ore production in the first half of the year was 646 million tons, an increase of 7.5% year-on-year. Among them, the production growth of the members of the China Mine Association in the first half of the year was 16.5%, which was an increase of 16% over the same period of last year. “The domestic mines have an expansion capacity of 50%, and they come from large mines with more than 10 million tons.”

It is worth noting that the investment in the mining industry in the current market is tending to weaken.

According to reports, in the first half of this year, the investment in fixed assets of the ferrous metal mining industry was 67.9 billion yuan, an increase of 7.77% year-on-year, and the increase was a substantial decrease of 15.1 percentage points from the same period of last year. From January to July, its fixed asset investment was 78 billion yuan, an increase of 9.4% year-on-year, an increase of 13.6 percentage points from the 24% in the same period of last year.

Liu Xiaoliang predicts that in 2013, domestic mine production will reach about 1.41 billion tons, an increase of about 7.5%; by 2015, domestic mine ore will reach 1.6 billion tons, and in 2020 it will be 1.44 billion tons.

In addition, he pointed out that in 2012 compared with 2007, the domestic open-pit mine grade dropped by 2.4 percentage points, the underground mine decreased by 3.83 percentage points, and the selected ore decreased by 2.38 percentage points. “The open-pit mine, the ore grade of the underground mine, and the plant The decline in the quality of selected grades is relatively large, indicating that the quality of domestic iron ore resources and mining conditions are gradually deteriorating.”

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