Anning Iron and Titanium: the low profit in the second half of the year is due to the improvement of the market in 2021 due to the overhaul of the production

Recently, Anning Iron and Titanium answered related questions at the performance presentation meeting.

The company sold 280000 tons of titanium concentrate in the first half of the year and 270000 tons in the second half of the year. on the basis of the sharp rise in prices, the low profit in the second half of the year was due to the overhaul of the production line at the end of the year, and the sales volume

In addition, the technical transformation and expansion project of Panjiatian Iron Mine is a technical transformation of the mining system to ensure a stable supply of raw ore. After the completion of the project, the company's mining capacity will reach 9 million tons per year.

The sales scale of the company's titanium concentrate is the first in China. With its leading position in the titanium concentrate market, the company has strong bargaining power in the titanium concentrate market, and many price increases in 2020 are also led by the company. According to the company's sales model, set the contract price of the following month and sign the contract with the customer, execute the relevant contract in the next month, and settle the account in the third month according to the shipping situation and the customer's acceptance. Therefore, there is a certain lag between the settlement price and the market price. At the same time, the sharp rise in titanium concentrate prices in 2020 began in October, with little impact on prices for the whole year. Titanium concentrate is one of the bulk raw materials, the product price is affected by many factors, it is difficult to predict, the company only from the business situation of downstream customers, the market is good in 2021. The downstream customers of the company, titanium dioxide production enterprises and vanadium titanium iron and steel enterprises, have been selling well this year, and their products are in short supply.