Vanadium and titanium of Panzhihua Iron and Steel Co., Ltd. released a semi-annual report. during the reporting period, the company achieved operating income of 7.133 billion yuan, an increase of 2.131 billion yuan or 42.62% over the same period last year, mainly due to the increase in sales and prices of vanadium and titanium products over the same period last year. The operating cost was 6.102 billion yuan, an increase of 1.659 billion yuan, or 37.35%, over the same period last year, mainly due to the increase in sales of vanadium and titanium products, the increase in the price of trade vanadium products, the increase in the price of titanium concentrate, the main raw material for the production of titanium dioxide and titanium slag, and the impact of reclassification. The net profit belonging to shareholders of listed companies was 507 million yuan, an increase of 422 million yuan over the previous year, or 492.86% over the same period last year, mainly due to the increase in sales and prices of vanadium and titanium products.
In the face of the complex market environment, the company does a good job of production and operation in strict accordance with the principle of "balance, stability, economy and efficiency" to achieve accurate control, efficient coordination and continuous improvement, and systematically enhance the company's operation management and control ability. During the reporting period, the company completed a total of 12900 tons of vanadium products (in terms of V2O5), an increase of 8.4 percent over the same period last year; 122700 tons of titanium dioxide (including 8750 tons of titanium chloride), an increase of 7.44 percent over the same period last year; and 109700 tons of titanium slag, an increase of 3.39 percent over the same period last year.
During the reporting period, the company's main business includes vanadium, titanium and electricity, among which vanadium and titanium plate is the strategic focus of the company's business development, mainly vanadium products, titanium slag, titanium dioxide production, sales, technical research and development and application development. the main products include vanadium oxide, ferrovanadium, vanadium nitrogen alloy, sulfuric acid titanium dioxide, chlorination titanium dioxide, titanium slag and so on. The company is a major supplier of vanadium products in the world, a major supplier of titanium raw materials in China, an important manufacturer of titanium slag in China, and an important manufacturer of titanium dioxide by sulfuric acid process and chlorination process in China.
From a product point of view:
China is a large country in the production and consumption of vanadium. The total domestic output in 2020 is about 128000 tons, which is the same as that in 2019. In 2020, the domestic demand is about 116000 tons, and the supply and demand tend to be balanced. The global economy recovers in 2021, the domestic epidemic situation is under control, the demand of infrastructure and steel industry increases, and the price of vanadium products continues to improve.
After years of development, the company's vanadium industry has become an important manufacturer of vanadium products with a large scale and a full range of vanadium products, with a production capacity of 22000 tons / year of vanadium products (calculated by V2O5), and a series of vanadium products such as vanadium pentoxide, vanadium oxide, medium vanadium iron, high vanadium iron, vanadium nitrogen alloy, vanadium aluminum alloy, etc., among which the sales volume of vanadium products used in iron and steel fields such as high vanadium iron and steel continues to lead the country. Vanadium aluminum alloy, which is applied in non-steel field, has been produced industrially. high purity vanadium oxide, vanadate and other non-steel application products have gradually entered the stage of large-scale production, which sell well in domestic and foreign markets and have strong market competitiveness. it also has great influence in domestic and international markets.
Titanium dioxide industry is a minority industry in the chemical industry. According to the statistics of the titanium dioxide sub-center of the National Chemical Industry Productivity Promotion Center, domestic demand has been on the rise in the past decade, but the increase is small. The downstream paint and plastic industries have entered a stage of slow growth, and domestic output is far greater than demand. More than 30% of exports. From January to June of 2021, domestic titanium dioxide production totaled about 1.9098 million tons, an increase of 18.58 percent over the same period last year, and an increase of about 300000 tons over the same period last year. In the first half of the year, foreign market demand was strong, domestic export orders increased, and titanium dioxide manufacturers remained at full production. In the second half of the year, both sulfuric acid and chlorination processes will release new production capacity, and titanium dioxide production will further increase. The annual output is expected to increase by 12% and 15%.
The company has a production capacity of 220000 tons / year of titanium dioxide by sulfuric acid process and 15000 tons / year by chlorination process. It is one of the few enterprises with the production capacity of titanium dioxide by chlorination process in China, and it is also one of the few production enterprises with titanium dioxide products by "sulfuric acid process + chlorination process". The titanium dioxide produced is a well-known brand product in China.
China has more than 60 titanium slag production enterprises with a production capacity of about 1.26 million tons, mainly concentrated in Sichuan, Yunnan, Liaoning, Hebei, Inner Mongolia and other provinces. The company is an important domestic titanium slag production enterprise, in 2020 the company titanium slag output of 205800 tons, accounting for 47.18% of the total domestic output. In the first half of 2021, most titanium slag enterprises stopped production due to the pressure of environmental protection. The domestic supply of titanium slag can not meet the consumption demand, especially the shortage of chloride slag supply.
Domestic titanium concentrate production in the first half of 2021 was about 2.82 million tons, an increase of 28 percent over last year, of which Sichuan produced about 2.25 million tons, accounting for about 80 percent of the total domestic output. During the reporting period, the company's titanium concentrate operating volume of 782000 tons (including self-use), ranking first in China. It is expected that there will be more new production capacity release of titanium dioxide and sponge titanium in the second half of the year, and the demand for titanium ore will increase accordingly.
