A conveyor belt, main raw material rubber price plummets, industry best profit period coming.
Rubber conveyor belt of cost ratio of more than 35%, the conveyor belt is set at the beginning of the pricing decision, pricing mechanism, rubber prices on the conveyor belt industry have an important impact on earnings. This rubber prices sharply lower year-on-year, by mid-may, this year the natural rubber daily futures price of about 27200 yuan/tons last year, up 36500 yuan/tons, down 09300 yuan/ton, synthetic rubber price compared to the average fell more than 04000 yuan/ton. Double arrow in shares with glue quantity nearly 20000 tons, treasure passband industry with glue in more than 8000 tons, benefit is very obvious.
Second, the downstream industry output growth, to ensure the conveyor belt conveyor belt industry needs for consumable, downstream industry production, demand growth will be ensured. By this year in April, the fixed asset investment growth of around 20%, this year is expected to be over 15% growth. Under this background, the electric power, coal, iron and steel, cement industries production will continue to grow, and promote the healthy development of industry conveyor belt.
Three, conveyor belt industry concentration to ascend, benign competition has formed
Conveyor belt industry in recent years more than 13% growth, industry first ten enterprise market share of more than 50%, the big enterprise mastered relative stable sales channels, and technical advantage and scale advantage prominent, market share gradually ascension, along with the market concentration to ascend, benign competition of the industry pattern has formed.
Four, investment advice
Rubber price has been low, treasure passband industry and double arrow shares recently will significantly benefit from the low price of rubber. Under this background, the double arrow stock performance with good elasticity YuBaoTong industry, the long run, treasure passband industry products integrated gross margin level higher than the double arrow shares. Suggest short-term investors pay more attention on the double arrow stock performance outbreak growth; Long-term focus on treasure passband industry growth of investment opportunity. We give the conveyor belt industry "recommended" rating.