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Summary and Outlook Report on Credit Risk of Nonferrous Metals Industry in 2022

Release time:

2023-02-08

From January to September 2022, the prosperity index of non-ferrous metals showed a narrow decline. From January to November 2022, the prices of copper, aluminum, lead and zinc fluctuated and decreased. Among them, in the second quarter of 2022, the price of copper, aluminum, lead and zinc decreased significantly due to the epidemic situation and weak downstream demand.
From January to November 2022, the number and scale of bonds issued by the nonferrous metal industry decreased compared with the same period last year. The main level of issuers is AAA, and the issuance scale of enterprises with AA and below is very small. From the perspective of issuing varieties, the types of bonds issued by non-ferrous metal enterprises are mainly short-term financing bonds and medium-term notes.
Looking forward to 2023, the uncertainty caused by the repeated epidemic will still exist. In addition, the Federal Reserve will raise interest rates, the global economic growth will slow down, and the downward pressure on the domestic economy will be greater. In this context, the resource endowment advantages and cost control ability of non-ferrous metal enterprises will have an important impact on the profitability of enterprises. It is necessary to focus on non-ferrous metal enterprises with poor resource endowment, weak cost control ability, weak profitability and heavy debt burden.

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