Non-ferrous metal sector more anemic

Although the non-ferrous metal plates of the first semi-annual report ushered in the good news, but industry analysts view, significant improvement in the overall sector is still too early.
July 16, Shengda Mining released semi-annual report, the first half of this year, Shengda Mining achieved operating income of 421 million yuan, an increase of 4.11% over last year; attributable to shareholders of listed companies net profit of 150 million yuan more than last year representing an increase of 0.7%; earnings per share of 0.30 yuan, total profit of 318 million yuan, the company also released a 10 yuan for every 10 shares of the dividend program, a total of about $ 500 million will be issued "red." This positive impact, Shengda Mining the 16th morning once daily limit, although after a slight decline, but still received the red gain of 5.84%.
Since last year, non-ferrous metal prices fell sharply, the overall situation into a downturn, growth performance Shengda Mining really difficult. In 2012, non-ferrous metals industry-wide revenues rose slightly 10.42%, mainly due to lower refining margins, trade and other services; while net profit attributable to parent company fell sharply 61.20%. Into 2013, industry-wide results for the first quarter of this year to continue up sharply 49.63%, has now entered the cyclical trough.
But the situation alone Shengda Mining and does not reflect the industry as a whole. "Medium-sized company profitability situation for the whole industry more representative." UBS Securities analyst Lin Haoxiang that from revenue considerations, A-share non-ferrous metal sector, ranking Jiangxi Copper, Aluminum Corporation of China, Tongling Nonferrous Metals, Shandong Gold, Zijin Mining, etc., to track these indicators indicate the company's earnings cycle industry's profitability is more persuasive.
Operating income before non-ferrous metal plate from 35 companies in 2013 mid-year report of the notice of view, the profitability of large enterprises is still not optimistic. Has released results notice in the 35 focus of the company, there are 20 released results notice, including 14 "Bad News", Yunnan Copper, Tin shares notice will appear first loss; Xiamenwuye released results of Letters show its revenue decreased 19.32%, net profit fell more sharply 77.69%.
"Commodity prices can reflect the performance of non-ferrous metals industry's profitability or not." Lin Haoxiang representation. The first half, leading non-ferrous metal prices fell sharply plate into shock. In a representative sub-sector - copper's performance, for example, from the historical trend, the copper market is mainly affected by supply and demand factors and monetary constraints, but the first half of the term, the tungsten eletrode by monetary factors more large.
"Quantitative easing by the U.S. three effects, copper prices started to rise from 2008 onwards." SW [microblogging] analyst Ye Peipei that since the first half of this year, copper has entered a "squeeze bubble" stage, " especially the recent exit QE for the U.S. market is expected to increase, the trend of copper slump again, the price is from 57,000 yuan per ton in 2012, dropped to about 50,000 yuan per ton at present. "
Industry analysts generally believe that the decline in revenue growth, profits fell by semi-annual report will be the non-ferrous metal industry key performance situation. Ye Peipei expected this year, copper and other base metals prices will fall about 15%, the corresponding profits of listed companies will decline 30%, for the sector as a whole is expected to pessimistic side