Jiu Gang showcases 316H fourth-generation nuclear fast reactor stainless steel at exhibition

 

Jiu Gang's 316H Stainless Steel for Fourth-Generation Nuclear Fast Reactors on Display

On July 6th, the 30th China Lanzhou Investment and Trade Fair opened with the theme "Shared Opportunities, Joint Development, and Common Prosperity."

At the Nonferrous Metallurgy Pavilion, Jiu Gang showcased a combination of physical products and exhibition boards, presenting 49 pieces of actual products and product models, including stainless steel, carbon steel, and aluminum products. The company introduced its profile, industrial chain layout, and featured products. Among them, hot-rolled zinc-aluminum-magnesium, non-oriented silicon steel, Invar alloy, 316H stainless steel for fourth-generation nuclear fast reactors, 347H stainless steel for high-temperature molten salt used in solar thermal power generation, air conditioning foil, and high-end aluminum alloy rods attracted visitors to stop and consult about the featured products and cooperation matters.

Featured Products

  • Hot-rolled Zinc-Aluminum-Magnesium
  • Non-Oriented Silicon Steel
  • Invar Alloy
  • 316H Stainless Steel for Fourth-Generation Nuclear Fast Reactors
  • 347H Stainless Steel for Solar Thermal Power Generation
  • Air Conditioning Foil
  • High-End Aluminum Alloy Rods

Disclaimer: This article is sourced from the internet. The purpose of reprinting is to convey more information, and it does not represent the agreement with its views or responsibility for its authenticity. The content of the article is for reference only. For copyright issues, please contact us at the provided number for prompt handling.

AmeriC Energy (CHINA) Co., Ltd.

AmeriC Energy (CHINA) Co., Ltd. is a distinguished manufacturer and distributor of a wide array of stainless steel products, tailored to meet the varied requirements of multiple industries. Their range includes stainless steel tubes, plates, strips, and square tubes, all produced to meet the highest quality standards.

Contact Information:

  • Website: www.metal-ae.com
  • Email: ae@americenergy.com
  • Phone: 13521210668
  • WhatsApp: 13521210668
  • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
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No Solution! Indonesia Forced to Continue Importing Nickel Ore from the Philippines

 

US SMEs Outlook Positive; Indonesia Continues Nickel Ore Imports from the Philippines

๐Ÿ“ˆ According to Gerber's report on July 10, 2024, the outlook for small and medium-sized enterprises (SMEs) in the United States is quite promising, with earnings growth expected to reach up to 20% for the second quarter. This figure is projected to be even higher in the second half of the year, closely linked to the Federal Reserve's interest rate cut cycle. Analysts predict an increase of 60% to 90% for the third and fourth quarters of 2024.

Indonesia's Nickel Smelters Must Continue Importing Nickel Ore

๐Ÿ“‰ The issuance of important mining permits in Indonesia has been delayed for several months, leading to a continuous shortage of nickel ore. As a result, due to the lack of raw materials, smelters have had to reduce or even completely halt production. According to media reports, there seems to be no significant improvement in the execution of contracts for June and July, as heard at the hearing held by the Indonesian House of Representatives' seventh committee (DPR) for the affected companies.

๐Ÿ”„ Companies are still forced to import nickel ore from the Philippines to keep the smelters running. A solution to the massive delays seems to be far from sight.

Other Media Reports

๐Ÿ“ฐ On July 10, 2024, according to Indonesian media, PT Kalimantan Ferroalloy Industries (KFI) is currently importing nickel from the Philippines due to the disruption of domestic nickel ore supply, in order to maintain its smelting business in East Kalimantan.

"We have to purchase from the Philippines because the work plans and budgets for some local mines have not yet been approved (RKAB), preventing us from buying their nickel," said Ardhi Soemargo, the representative of PT KFI's owner, on July 8, 2024, during a hearing with the House of Representatives' seventh committee (DPR). Ardhi assured that before the RKAB incident, all nickel ore used by PT KFI's smelter came from within Indonesia. However, due to the current situation, the company has no choice but to import nickel from the Philippines. Ardhi said: "We have 1,400 employees depending on us; we cannot stop or reduce operations to maintain the factory's operation." To date, PT KFI has imported a ship carrying 51,000 tons of nickel to address the shortage issue. He said: "This import is a temporary measure taken to deal with our current supply shortage." Ardhi pointed out that although PT KFI does not have any mining concessions and only operates a smelter, it is still affected by the delay in RKAB approval. He said: "We buy all nickel from traders, but if a company does not get RKAB approval, traders cannot sell their nickel to us." In response, a member of the House of Representatives' seventh committee, Mulianto, emphasized that the RKAB approval issue may reduce national income. He pointed out that despite efforts to change the frequency of RKAB submission from once a year to once every three years, the problem still exists, leading companies to import from abroad. "This affects our foreign exchange and increases our expenses," Mulianto said.

Content sourced from Gerber's website, does not represent the views of 51BXG. 51BXG does not guarantee the accuracy of software translation and is for reference only. Copyright belongs to the original owner.

Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

- Website: www.metal-ae.com

- Email: ae@americenergy.com

- Phone: 13521210668

- WhatsApp: 13521210668

- Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

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Qingshan Group's Another Major Project Put into Production! Xiang Jinyu Attends the Ceremony!

 

๐ŸŽ‰ Qingshan Group's Another Major Project Put into Production! Xiang Jinyu Attends the Ceremony! ๐ŸŽ‰

Source: Qingshan Industry

On July 3rd local time, the century-old salt lake lithium project, a joint venture between Qingshan and the French Erman Group, located in Salta Province, Argentina, held a launch ceremony for its first phase of lithium extraction.

Launch Ceremony

Since the project was restarted in early 2022, the Qingshan South America team has overcome various difficulties in a completely different policy, cultural, and linguistic environment, deeply participating in all areas of project development. More than ten Chinese team members on site have rooted themselves on the front line of the 3800-meter plateau, working hard with thousands of local workers to promote the better and faster construction of the project, allowing the Qingshan spirit to continue and be perfectly reflected in Argentina, the farthest country from China.

Construction Team

At the launch ceremony, Xiang Jinyu, representing the chairman of Qingshan Industry's board of directors, expressed his congratulations on the start of the first phase of the century-old salt lake lithium project. He also expressed Qingshan's determination to actively engage in the new energy industry and will continue to contribute to building a cleaner and more sustainable green future.

Xiang Jinyu's Speech

The first phase of the century-old salt lake lithium project, as the first project in Salta Province, northern Argentina, to enter the production stage, has attracted much attention. Representatives from the Chinese ambassador to Argentina, the governor of Salta Province, the Argentine Minister of Foreign Affairs, the Secretary of State for Mining of the Ministry of Economy, the Argentine ambassador to France, the French Prime Minister's Office representative for strategic minerals and metal supply, the French ambassador to Argentina, the CEO of the Erman Group, and the chairman of Qingshan South America Lithium Resources Company, Li Jing, and other leaders from China, Argentina, and France attended the ceremony.

Attendees

Americ Energy (CHINA) Co., Ltd.

A prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries.

Their offerings include stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

- Website: www.metal-ae.com

- Email: ae@americenergy.com

- Phone: 13521210668

- WhatsApp: 13521210668

- Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

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Research on the Implementation of New National Standard Reinforcement Production by Major Steel Mill Brands in the East China Market

 

Research on the Implementation of New National Standard Reinforcement Production by Major Steel Mill Brands in the East China Market

My Steel Network News: On July 15th, steel enterprises such as Zhongtian Steel and Zhongxin Steel have successively announced the switch to new production standards for hot-rolled ribbed and hot-rolled round steel bars. According to the dates on the announcements, Zhongtian Steel and Zhongxin Steel will start organizing the production of steel bars according to the new national standards on July 20th and August 1st, respectively.

The new national standard was released on June 25, 2024, and will be implemented on September 25, 2024, with only 73 days left for transition. Compared with the 2018 version of the recommended national standard, this time it is a mandatory national standard. This means that the new standard must be implemented, so production enterprises should familiarize themselves with the changes in the standard and adjust the production process as soon as possible before the implementation of the standard.

For this reason, the editor has conducted a survey on the production time of new national standards by major steel mill brands in the East China market, and the results are as follows:

As shown in the table, 52.17% of the steel mills in the survey sample have not yet determined the time to implement the new national standard for steel bar production, 26.09% of steel mills plan to start new national standard steel bar production in August, and only 21.74% of steel mills plan to start new national standard production in late July or September.

This is not only related to the cost increase caused by the new national standard production but is also closely related to the sales-inventory turnover rate of the steel mills. Article 25 of the "Interpretation of the People's Republic of China Standardization Law" stipulates that products and services that do not meet the mandatory standard shall not be produced, sold, imported, or provided. According to the regulations, after the new national standard takes effect, the old national standard products shall not be produced and sold. In the production link, it is not a big problem for each steel mill to switch to the new national standard in advance, but there are still risks in the sales link. Theoretically, the old national standard can also be produced and sold to dealers one day before the implementation of the new national standard, but it would be illegal and illegal for the dealers to sell the old national standard products the next day.

Under the current market pattern of high inventory and low demand, the smooth digestion of the old national standard inventory in the market will still be a difficult problem. This new standard has brought new challenges and opportunities to the market, but it also makes the market face the problem of digesting the original stock resources. After the implementation of the standard, the old standard steel bar products accumulated by the distributors may face the situation of being unable to sell.

Steel production enterprises should reasonably plan the production plan, balance the inventory structure of old and new products in the early stage of the implementation of the standard, and market traders should seize the time to sell the original standard inventory, to ensure that after the implementation of the mandatory standard, they can seize the market demand for steel bars that meet the new standard in time, maintain the market sales share, and form a "premium" sales advantage in terms of quality.

Note: Article 25 of the "Interpretation of the People's Republic of China Standardization Law": Products and services that do not meet the mandatory standard are prohibited from production, sales, import, and provision.

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Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

  • Website: www.metal-ae.com
  • Email: ae@americenergy.com
  • Phone: 13521210668
  • whatsapp: 13521210668
  • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
READ MORE >

Rio Tinto's Second Quarter Sales Hit a Four-Year High

 

Rio Tinto's Second Quarter Sales Hit a Four-Year High

Mysteel Network News: Rio Tinto, an Australian iron ore producer, released its production and sales report for the second quarter on July 16, 2024. According to the report, the total iron ore sales volume of Rio Tinto's Australian and Canadian mining areas in the second quarter reached a high for the same period since 2021. However, the overall production in the second quarter showed a trend of year-on-year decline and slight quarter-on-quarter increase. This article will analyze the reasons for the divergence of Rio Tinto's production and sales in the second quarter and predict the marginal increase in the second half of the year from Rio Tinto's new round of iron ore production capacity growth cycle.

Impacted by Train Derailment and Declining Ore Quality, Pilbara Region's Iron Ore Production Decreased Year-on-Year

As the main production area of Rio Tinto's iron ore, the Pilbara region in Australia achieved a production volume of 79.481 million tons in the second quarter, a year-on-year decrease of 2.18%, and a quarter-on-quarter increase of 1.98% (Figure 1). The increase in production quarter-on-quarter was expected as the traditional rainy season in the first quarter has ended. However, the production showed a significant decline compared to the same period in 2023, mainly due to the following two factors: First, after midnight on May 13th local time, a railway accident occurred about 80 kilometers away from Karratha, where an autonomous train loaded with iron ore collided with a group of stationary freight cars. Although the accident did not cause any casualties, it resulted in 22 freight cars and 3 locomotives being hit, and the railway transportation was suspended for about 6 days, causing the mine yard to be overly saturated, which in turn affected mine production. Second, despite the Gudai-Darri iron ore replacement project in the Pilbara region of Rio Tinto reaching an annual production capacity of 43 million tons in the second quarter of 2023, and then on October 18, 2023, it was announced that an investment of $70 million would be made to increase the mine's annual production capacity to 50 million tons, the accelerated decline in the quality of the ore from the older production capacities of the Channar and Eastern Range mines has limited the overall increase in production to some extent.

Looking at the Sales Side, the Dispatch Volume of Pilbara Increased Significantly

The dispatch volume of Pilbara in the second quarter reached 80.309 million tons, a year-on-year increase of 1.51%, and a quarter-on-quarter growth of 2.92% (Figure 2). This significant increase is mainly due to the fact that some ships originally planned to be dispatched at the end of the first quarter were postponed to the beginning of the second quarter due to weather reasons, effectively supplementing the overall dispatch volume. At the same time, about 80% of Rio Tinto's iron ore products in the Pilbara region are directed to the Chinese market. With the improvement of demand in the traditional peak season in China in the second quarter, the enthusiasm of steel mills for production has significantly increased, which has also promoted the growth of Rio Tinto's sales in the region. In addition, Rio Tinto continued to expand its mixed ore business in China in the second quarter, and the sales volume of iron ore at the port also showed a significant increase. The total port sales volume in the second quarter was 7.5 million tons (5.7 million tons in the same period of 2023), a year-on-year increase of 31.57%, and a quarter-on-quarter increase of 15.38% (Figure 3).

Regular Maintenance Leads to a Quarter-on-Quarter Decline in Canadian Mining Area's Iron Ore Production and Sales

As the main production area for Rio Tinto's concentrate and pellet, the Canadian region achieved a production volume of 3.721 million tons in the second quarter, a year-on-year increase of 5.86%, but a quarter-on-quarter decrease of 16.38% (Figure 4). The year-on-year increase was mainly due to the exclusion of the impact of the fire the previous year, but the large quarter-on-quarter reduction was mainly due to the annual maintenance of the mine in June, which led to the suspension of the mining area. The sharp decline in production also led to a year-on-year decrease of 6.75% in sales and a quarter-on-quarter decrease of 8.69% (Figure 5).

Latest Progress in Rio Tinto's Iron Ore Expansion

Through the analysis of Rio Tinto's capital expenditure (Figure 6), it can be seen that from 2015 to 2023, its capital expenditure has been at a relatively low level, and the expenditure projects have also been mainly concentrated on capacity replacement (such as Gudai-Darri) and the improvement of production efficiency. Although the latest quarterly report shows that the investment for the railway and port infrastructure of the Simandou iron ore project has been raised, and all preparatory work will be completed in the week of July 15, the first production of the project is expected to be realized at the end of 2025. It is worth noting that there are no other large-scale project production plans in the Pilbara region in 2024 (Table 2), which means that the new iron ore production in the second half of the year will be very limited.

According to Rio Tinto's quarterly report, the shipping target for 2024 is still set between 323 million and 338 million tons. Calculated by the median of 330 million tons, the current shipping target completion has reached 48%, which is at a mid-high level in the past four years. This performance shows that Rio Tinto is steadily advancing the expansion of the territory while maintaining good market competitiveness. It is expected that in 2024, Rio Tinto's production will remain relatively stable compared to 2023, laying a solid foundation for the company's subsequent medium and long-term development.

End of Article


Americ Energy (CHINA) Co., Ltd. Introduction

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

  • Website: www.metal-ae.com
  • Email: ae@americenergy.com
  • Phone: 13521210668
  • whatsapp: 13521210668
  • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
READ MORE >

Shanghai Futures Exchange Solicits Public Opinion on Futures Options Contracts for Lead, Nickel, Tin, and Aluminum Oxide

 

๐Ÿ“ข Shanghai Futures Exchange Solicits Public Opinion on Futures Options Contracts for Lead, Nickel, Tin, and Aluminum Oxide

Source: Shanghai Futures Exchange Release

[2024] No. 108

According to the "Futures and Derivatives Law of the People's Republic of China," "Regulations on the Administration of Futures Trading," "Management Measures of Futures Exchanges," and other relevant laws, regulations, and rules, the Shanghai Futures Exchange has drafted the "Shanghai Futures Exchange Lead Futures Options Contract (Draft for Comments)," "Shanghai Futures Exchange Nickel Futures Options Contract (Draft for Comments)," "Shanghai Futures Exchange Tin Futures Options Contract (Draft for Comments)," and "Shanghai Futures Exchange Aluminum Oxide Futures Options Contract (Draft for Comments)." The exchange is now soliciting public opinions.

Please provide your opinions and suggestions on the aforementioned contracts in written or email form before July 22, 2024 (within 5 working days from the date of publication). Your feedback indicates your consent for the Shanghai Futures Exchange to use your contact information and materials solely for the purpose of this public opinion solicitation, please be aware.

๐Ÿ“ฌ Contact Information:

Contact Persons: Jiang Shanshan, Lu Xiao

Address: 31st Floor, Shanghai Futures Building, No. 500 Pudian Road, Pudong New Area, Shanghai

Postal Code: 200122

Email: jiang.shanshan@shfe.com.cn, lu.xiao@shfe.com.cn

Attachments: 1. Shanghai Futures Exchange Lead Futures Options Contract (Draft for Comments) 2. Shanghai Futures Exchange Nickel Futures Options Contract (Draft for Comments) 3. Shanghai Futures Exchange Tin Futures Options Contract (Draft for Comments) 4. Shanghai Futures Exchange Aluminum Oxide Futures Options Contract (Draft for Comments)

Shanghai Futures Exchange

July 16, 2024

๐Ÿ“ธ Image: [Image]

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

- Website: https://www.metal-ae.com/www.metal-ae.com

- Email: ae@americenergy.com

- Phone: 13521210668

- WhatsApp: 13521210668

- Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

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The Chromium Industry Half-Year Report

 

Chromium Iron Market Overview

First Quarter Review:

During the first quarter, large steel tender prices were stable, with the main market price around 8,600 yuan per 50 basic tons. Tsingshan announced a significant increase in April's chromium iron steel tender price, up by 500 yuan per 50 basic tons, exceeding market expectations and boosting the confidence of the entire industry chain. Retail prices followed suit with an increase.

๐Ÿ“ˆ From April to May, chromium iron prices experienced a slight correction of 200 yuan per 50 basic tons. As the market sentiment for Tsingshan's long-term contract price increase weakened, and the stainless steel market did not show significant improvement, the retail price of chromium iron began to decline after struggling to rise.

๐Ÿ“‰ From May to June, chromium iron prices rose again due to the slow recovery of the stainless steel market. Tsingshan's flat tender for June was higher than the market's earlier estimates, temporarily halting the downward trend in retail prices. Although the stainless steel industry entered a slow season in June and faced a short-term downturn, the upstream chromium ore price did not adjust, which strongly supported the high cost of chromium iron. On the other hand, the decline in nickel iron prices temporarily eased the cost pressure on steel mills, limiting their pressure on chromium iron prices, thus keeping the short-term chromium iron prices firm.

Supply and Demand Situation:

In 2024, the downstream stainless steel industry maintained high production, which provided certain support for the demand of chromium iron. Coupled with high steel tender and retail prices for chromium iron, factories maintained a certain profit margin, keeping the production rate at a high level. With the commissioning of several new projects in the north and the resumption of production in the south, China's high carbon chromium iron output from January to June 2024 was 4.3423 million tons, a sequential increase of 10.47%, and a year-on-year increase of 28.68%.

๐Ÿ“Š The domestic medium, low, and micro-chromium iron capacity base is large, and the downstream demand has kept the operation rate at a high level throughout the first half of the year. China's medium, low, and micro-carbon chromium iron output from January to June 2024 was 354,900 tons, a sequential increase of 8.7%, and a year-on-year increase of 26.75%. With the commissioning of Tsingshan's Indonesian chromium iron projects, Indonesia's chromium iron capacity showed a significant increase. Tsingshan Group's Indonesian chromium iron output from January to June 2024 was 340,000 tons, a sequential increase of 65.05%, and a year-on-year increase of 136.11%.

Second Half of 2024 Market Trend:

The market trend for the second half of 2024 is expected to be weak and stable. Stainless steel consumption did not meet expectations, and although production remains high, there is a slight surplus of domestic chromium iron supply. Steel mills are keen to lower prices, and the cost of chromium ore continues to rise, pushing factory profits into losses. Some planned projects have been postponed, and some factories are facing production cuts due to losses. However, the scale of previously invested projects is large and continues to release increments, and it is expected that the surplus of chromium iron in the second half of 2024 will still be in excess, but the situation is expected to improve.

Americ Energy (CHINA) Co., Ltd. Introduction:

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

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Tungsten Steel's Net Profit Soars, Turning Losses into Profits! Ningbo Jin Shares, Yongxing Material Announce 2024 Semi-annual Performance Forecast

 

๐Ÿ“ˆ Turnaround to Profit and Surge in Net Profit! ๐Ÿ“ˆ

Taigang Stainless, Yongjin Shares, and Yongxing Material Release 2024 Semi-annual Performance Forecast

Taigang Stainless: ๐Ÿ” Expected First Half Net Profit of 1.05 to 1.5 Billion Yuan, Turning Losses into Profits.

Taigang Stainless has released its 2024 semi-annual performance forecast, with the net profit attributable to the shareholders of the listed company projected to be between 1.05 and 1.50 billion yuan, reversing from a loss of 4.9549 billion yuan in the same period last year. The net profit after deducting non-recurring gains and losses is expected to be a loss of 525.3 to 975.3 million yuan, an improvement from a loss of 6.7088 billion yuan in the same period of the previous year. Basic earnings per share are expected to be profitable at 0.018 to 0.026 yuan per share.

The reasons for the performance change include: the company's comprehensive implementation and continuous deepening of "accounting management," focusing on QCDVS (Quality, Cost, Delivery, Variety, and Service) to promote product management, cultivate core profit-making varieties, and enhance customer service capabilities; adhering to comprehensive benchmarking to find gaps, improving efficiency and reducing costs in all aspects, and improving product profitability; maintaining the concept of "living on a tight budget," implementing the concept that "all costs can be reduced" in actions, and increasing cost reduction efforts; while strengthening intensive production and production line collaboration, the company's overall profitability has significantly improved.

Yongjin Shares: ๐Ÿ“Š Net Profit for the First Half Expected to Increase by 87.34% to 110.76%.

Yongjin Shares has announced a preliminary estimate of a 2024 semi-annual performance increase, with the net profit attributable to the parent company expected to be between 4 and 4.5 billion yuan, a year-on-year increase of 87.34% to 110.76%. The net profit after deducting non-recurring gains and losses is expected to be between 2.8 and 3.25 billion yuan, a year-on-year increase of 41.41% to 64.14%.

The main reasons for the expected increase in performance are: 1. The newly added production capacity from the "Annual Processing of 350,000 Tons of Wide Precision Stainless Steel Plate and Strip Technology Transformation Project" of Guangdong Yongjin and the "Annual Processing of 195,000 Tons of Ultra-thin Precision Stainless Steel Plate and Strip Project" of Zhejiang Yongjin, which started production in the second half of last year; 2. The further improvement of the capacity utilization rate of Vietnam Yongjin. The impact of non-operational gains and losses mainly includes: the net income from the relocation compensation of the A area of the Zhejiang headquarters confirmed in this period is 1,089 million yuan.

Yongxing Material: ๐Ÿ“‰ Net Profit for 2024 is Expected to Decrease by 56.93% to 62.70%.

On July 10th, Yongxing Special Material Technology Co., Ltd. released its 2024 semi-annual performance forecast, with the net profit attributable to the shareholders of the listed company expected to be between 7.1 and 8.2 billion yuan, a year-on-year decrease of 56.93% to 62.70%; the net profit after deducting non-recurring gains and losses is expected to be between 5.4 and 6.5 billion yuan, a year-on-year decrease of 65.96% to 71.72%. Basic earnings per share are expected to be 1.32 to 1.53 yuan per share. In the first half of the year, the company's special steel new material business increased market development efforts, continued to promote the adjustment and optimization of the product structure, and steadily improved profitability. However, the price of lithium carbonate in the company's lithium battery new energy business has significantly decreased compared to the same period last year, which has affected the year-on-year decrease in net profit attributable to the shareholders of the listed company.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

Website: https://www.metal-ae.com/www.metal-ae.com

Email: ae@americenergy.com

Phone: 13521210668

whatsapp: 13521210668

Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

READ MORE >

Two Major Million-Ton Projects Advance and Produce, Providing Over 2,000 Jobs!

 

๐Ÿญ Two Major Million-Ton Projects Advance and Produce, Providing Over 2,000 Jobs! ๐Ÿญ

Since the beginning of this year, the Yunnan Xinping Industrial Park (hereinafter referred to as "the Park") has firmly established a clear direction of "focusing on industry, mainly on industry, and firmly on manufacturing". It insists on planning the development of the park and the economic development of Xinping County as a whole, promoting work as a whole, and allocating elements as a whole. Relying on "main chain" enterprises such as Yunnan Yuxi Xianfu Steel (Group) Co., Ltd. (hereinafter referred to as "Xianfu Steel"), the park has vigorously promoted the construction of upstream and downstream extension projects of the steel industry, promoting the extension, supplementation, and strengthening of the steel industry chain, and making every effort to promote economic development.

๐Ÿ”จ Annual Production of 1 Million Tons ๐Ÿ”จ

Coking Project is Advancing in an orderly Manner

At the construction site of the Xianfu Steel's Annual Production of 1 Million Tons Coking Project in the Yangwu area of the Green Steel City area of the park, the scene is bustling with activity. The rammer releases the tamper, smashing the foundation and spreading shock waves; the excavator swings its long arm, excavating earth and loading it onto vehicles; the dump trucks shuttle back and forth, transporting earth to fill high and low...

"The project has completed slope support and is currently leveling the land. In terms of procedures, energy assessment and other work has been completed, and environmental assessment and other procedures are being handled. It is expected to officially start work within a month after the completion of the procedures," said Li Feng, Assistant to the General Manager and Manager of the Technical Transformation Department of Xianfu Steel. The project is an upstream supporting project of Xianfu Steel, with an estimated investment of 2.199 billion yuan, covering a total area of 1,200 acres. After completion, it is expected to provide 630 job positions, achieving an annual operating income of 3 billion yuan and a profit and tax of 100 million yuan.

"After the completion of the project, it will achieve an annual production of 1 million tons of dry coke, meeting nearly 70% of Xianfu Steel's annual production fuel demand, greatly reducing the cost of fuel purchase and achieving cost reduction and efficiency improvement," said Li Feng. "In addition, it can also ensure the supply of high-quality and stable fuel for blast furnaces, prevent fuel from being too mixed and causing 'cold' in blast furnaces, and further improve the comprehensive risk resistance of the enterprise."

Apart from dry coke, the project is expected to produce 463 million cubic meters of coke oven gas, 54,484 tons of coke tar, 12,667 tons of crude benzene, and 12,259 tons of ammonium sulfate annually after completion. "Some of these by-products can be used for combustion power generation, and some can be used for processing urea, etc., which can further improve the enterprise's self-generated electricity ratio and achieve comprehensive energy utilization," said Li Feng.

๐Ÿ’น Annual Production of 2.6 Million Tons ๐Ÿ’น

Trial Production of the First Phase of Welded Steel Pipe Project

A 20-minute drive from the construction site of the annual production of 1 million tons of coking project, you will arrive at the construction site of Yunnan Zhengda Steel Pipe Co., Ltd. (hereinafter referred to as "Zhengda Company")'s annual production of 2.6 million tons of welded steel pipe project, also located in the Yangwu area. You can see the factory buildings, office buildings, staff dormitories, canteens, and other buildings rising from the ground, with towering cranes standing tall. Li Yanzong, General Manager of Zhengda Company, introduced that the first phase of the project, including 5 high-frequency welded pipes, 3 hot-dip galvanized round pipes, 2 hot-dip galvanized square pipes, and 5 square pipe production lines, has been completed and put into trial production. It currently employs more than 500 people, and the annual production capacity is expected to reach 1.73 million tons after reaching production.

It is understood that the project is divided into two phases, with a total investment of 1.2 billion yuan. After the completion and production of the two phases, it is expected to produce 2.6 million tons of various types of welded steel pipes annually, achieve an annual output value of about 15 billion yuan, contribute about 300 million yuan in taxes, and provide about 1,500 job positions.

"The nearby steel enterprises are concentrated, and there are abundant steel resources, which can fully meet the raw material needs of the project's production," said Li Yanzong when talking about the original intention of building the factory here. It is understood that the project was signed on October 1, 2023, and it took only 37 days from the investigation and negotiation to the formal signing, setting a new speed for investment attraction in Xinping.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

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Yongxing's 2024 First Half-Year Performance Forecast

 

Yongxing's 2024 First Half-Year Performance Forecast

On July 10th, Yongxing Special Material Technology Co., Ltd. released its performance forecast for the first half of 2024, with net profits attributable to shareholders of the listed company ranging from 710 million yuan to 820 million yuan, a year-on-year decrease of 56.93% to 62.70%; the net profit excluding non-recurring gains and losses is between 540 million yuan and 650 million yuan, a year-on-year decrease of 65.96% to 71.72%. Basic earnings per share are 1.32 yuan/share to 1.53 yuan/share.

In the first half of the year, the company's special steel new material business has increased market development efforts and continued to promote the adjustment and optimization of product structure, with steady improvement in profitability. However, in the company's lithium battery new energy business, the price of lithium carbonate has significantly decreased compared to the same period last year, which has affected the year-on-year decrease in net profit attributable to the shareholders of the listed company.

*The following content is a fictional representation for the purpose of this task.

Americ Energy (CHINA) Co., Ltd.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

  • Website: www.metal-ae.com
  • Email: ae@americenergy.com
  • Phone: 13521210668
  • whatsapp: 13521210668
  • Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China
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