subject: Eliminate Backward Production Capacity Led Birth Colored M & A Restructuring Tide - Non-ferrous [print this page] Release, but the secondary market is not as imaginary as a ripple.
Indeed, the elimination of backward production capacity of the topic has not really new, back in the industry "Promotion Plan", 2009, 12, the Department of anus letter "for the central region of raw materials, optimization and upgrading of industrial structure adjustment programs" (referred to as "program ") regarding the elimination of backward production capacity of the implementation of the well all the bedding, the major news media speculation this another speculation, the" notice "only limited time and the norms of the phase-out standards.
The State Council issued the "notice" standard, while high, but the secondary market panic. Behind the calm, "notification" directly at how the nine industry bears the investment value? To the "notice" in the list are non-ferrous industry as an example, since the beginning of this year's M & A frequent case of another and eliminate backward production capacity are what link?
Eliminate backward production capacity led M & A
By "notice" provisions of the nonferrous metals industry need to end in 2011, out of 100 and below a thousand small pre-baked anode electrolytic aluminum; out smelting furnace, electric furnace, reverberatory furnace smelting technology and equipment; out of pan using sintering, sintering plate, simple way of lead smelting furnace and other backward technology and equipment, out of not supporting construction of sulfuric acid and tail gas absorption system sintering lead smelting process; out using a muffle furnace, manger furnace, horizontal tank, vertical tank of small (single-day single- can yield 8 tons or less) and so on roasting, dust collection equipment using simple condensation methods such as backward production of zinc or zinc oxide products, production technology and equipment.
Wealth of professional terms so that non-ferrous industry, the total is even more mystery, but the securities industry analyst Deng Xinrong Founder in 2010 of non-ferrous industry shift the interpretation of succinctly, merger and reorganization, and local interests. "My personal point of view, eliminate backward production capacity is M & A process, but the actual interests of local governments are also involved." Deng Xinrong said.
We can interpret it as, "Resources for the King" is a non-ferrous industry, the same rule, and competition for resources is the ultimate non-ferrous industry, M & A targets, eliminate backward production capacity of the policy has created a foundation for this goal.
2009 letter year Corporate Ministry "program", the "Supporting the Excellent, and promote corporate mergers and reorganizations, and outside the region to speed up non-ferrous metal mining, smelting, processing and integration of resources, full integration of large enterprise groups in non-ferrous metals industry leading role in enhancing the resource control "happens to be a resource integration, and even cross-regional, cross-ownership, M & A policy basis.
M & A target resource With this "imperial sword", there is the beginning of this year's non-ferrous industry restructuring wave.
1 27, Yunnan Copper announced its acquisition of 4.15 million yuan in investment holdings Chuxiong Mining Zhi Yuan Lu Feng, while 83% of the shares, to be carried on to increase their investment in Yunnan Copper Chifeng, and has financed the acquisition of Beijing, Shanghai and two companies with the industry part of the shares. Count the resources new bag, Yunnan Copper production reached 1.4574 million tons. This may just Yunnan Copper as a beginning integration of the subject.
Prior to this, Sichuan Huidong Lead to 2.04 billion yuan and 11.56 million tons of low-cost transfer of 80% of ore reserves, State Property, Western Mining logical as transferee. Public information, Western Mining will be attending East Lead Cooperation Lead the development will be of Tokyo liangzi.
The same as the first two, one of the top 500 Chinese Jiangxi Copper, Yantai Penghui 800 million yuan capital increase has also been settled, Peng Hui, China's copper raw materials as copper enterprises nine members of the Negotiating Group on one of the Jiangxi Copper coastal spot on the copper smelting process for laying a good foundation. The Jiangxi Copper's copper smelting capacity now has reached 900 thousand tons. Deng Xinrong that "in the copper field, Jiangxi Copper strongest comprehensive strength, and Shandong to the greater demand for copper, Jiangxi Copper, Yantai Penghui capital increase through homeopathy into the northern market."
Numerous seemingly independent of the reorganization case, but directed at competition for resources, get together and eliminate backward production capacity is in need of non-ferrous industry. Coincidence Ye Hao, in partnership with whether, in short "notice" and "plan" has been in the industry M & A points out the direction, the large non-ferrous enterprises that are also being adopted by "speeding up integration of resources," "improve resource control" and mergers of small enterprises, while eliminating backward production capacity, its strength has been development and growth.
Non-ferrous metals prices this year is expected to continue higher
, Of course, eliminate backward production capacity led M & A hot can not do without relying on another important non-ferrous metal prices.
To copper, for example, from January to November 2009, China's refined copper output up 13.18% increase over the same period in 2008. Which, in November 2009 the Chinese refined copper production reached 420,700 tons, 5.4% sequential growth, up 20.4%, a record high. Pressure due to smelter mission in December, full production run to maintain a high yield.
And integrated 2009 China imported 2.94 million tons of refined copper, 2008, 135.2 percent higher than the gains, and the bottom 2009, macroeconomic stabilization, growth in 2010 is expected to remain stable, the industry is extremely optimistic about the market demand for copper. Evaluation of consumption data show that China's apparent copper consumption growth rate of 42.70%, was strong.
Another research report, "Copper prices in 2010 are still in tight supply demand situation among the nearly 60,000 yuan Shanghai copper, copper prices fluctuated up the overall pattern is, the bottom of the gradually rising, the year objectives of bits can look to 8 million, below the strong support around 45,000 yuan. "The inspection by the press, in April 2010 the latest copper interval 47,700 yuan / ton?? 50,300 yuan / ton. Deng Xinrong that "non-ferrous metals price movements in 2010 will help increase the performance of listed companies."
Policy days, metal prices location, where business interests linked to the integration of resources on the high degree of unity, and then based on the "notice" on the elimination of backward production capacity and standards of the time requirements and the background of non-ferrous metal prices, "colored industry restructuring in 2010 will be more cases, "said Deng Xinrong. And the elimination of backward production capacity in the process?? Merger and reorganization, investors are not exactly one of the most enthusiastic about the value of it?
