SMM: Jinling Mining issued a performance forecast on the morning of July 10. It is estimated that the net profit in the first two quarters of 2020 is 110 million yuan to 140 million yuan, an increase of 30.41% and 65.98% over the same period last year. It is estimated that the basic earnings per share in the first two quarters of 2020 will be about 0.19 yuan per share to 0.24 yuan per share. The main reason is that the production and operation of the company is stable in the first half of 2020, the sales price of iron concentrate, the main product of the reporting period, has increased compared with the same period last year, and the cost of iron concentrate has decreased compared with the same period last year. Affected by the above factors, the net profit belonging to shareholders of listed companies increased year-on-year.

Focus on the development prospect of tungsten industry

2020 is an extraordinary year. Due to the slowdown of global economic growth and the occurrence of the global coronavirus crisis, domestic and foreign orders for cemented carbide and special steel industries have declined, and China's tungsten industry is facing downward pressure.

The global tungsten market is expected to develop rapidly in the next few years, which mainly benefits from the application potential of tungsten products in automotive, aerospace, mining, national defense, metal processing and many other industries. It is estimated that by 2025, the global tungsten market share will exceed 8.5 billion US dollars.

The electronics industry is one of the key terminal application fields to promote the expansion of tungsten market. The global electronics industry will achieve tremendous growth in the next few years, and the tungsten market used in the field of electronic and electrical terminal consumption is expected to achieve a compound annual growth rate of 8% by 2025.

The field of auto parts plays a key role in increasing the global tungsten market share. It is estimated that the compound annual growth rate of tungsten market in this field will exceed 8% by 2025.

Another major terminal application area that promotes the development of the global tungsten market is aerospace. It is estimated that the compound annual growth rate of tungsten market in aerospace will exceed 7% by 2025. The vigorous development of aircraft manufacturing industry in Germany, the United States, France and other developed regions is expected to promote the growth of tungsten industry demand.

China plans to invest 3.4 trillion yuan this year to build more than 10, 000 new infrastructure projects. These projects focus on 5G base station construction, inter-city high-speed railway and urban rail transit, new energy vehicle charging piles and other areas. The successive landing of these new projects will greatly promote the recovery of China's tungsten industry.

What is the future of tungsten market in 2020? SMM makes every effort to create "China Tungsten Industry Market and Application Summit Forum and China cemented Carbide Market Application Symposium". You are cordially invited to discuss the great plans of the industry!

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"China Tungsten Industry Market and Application Summit Forum and China cemented Carbide Market Application Symposium"