Carbon Black manufacturers Longxing Chemicals released its half-year performance prediction.
The company predicted that its net profit in the first half year was only 2 million yuan to 3 million yuan, year-on-year decreasing 77.18% to 65.76%.
The company contributed its decline to weaken auto demand in COVID-2019 epidemic.
Although coal tar price increased recently, carbon black price was still teetering at low price level under oversupplied situation.
Longxing Chemicals said it kept at high operation ratio, but its profit was still decreasing with carbon black price down.
