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Industry News


We track rubber chemical industry market trends using a wide range of industry sources. Optimum market insight is achieved by combining public information with RCCL's extensive range of confidential information which is pooled together using RCCL's proprietary database and reporting systems.

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April (2024)

Jiangxi Black Cat Carbon Black: 2023 Q4 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20232022YoY, %Notes
All SegmentsSales RevenueQ42657.82588.92.7
All SegmentsEBITQ432.5-25.2229.0
All SegmentsNet MarginQ4-215.6-28.4-658.2


November (2023)

Jiangxi Black Cat Carbon Black: 2023 Q3 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20232022YoY, %Notes
All SegmentsSales RevenueQ32370.02648.9-10.5
All SegmentsGross MarginQ389.748.784.4
All SegmentsEBITQ3-26.4-21.2-24.6


August (2023)

Jiangxi Black Cat Carbon Black: 2023 Q2 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20232022YoY, %Notes
All SegmentsSales RevenueQ22217.12806.7-21.0
All SegmentsEBITQ2-132.498.7-234.1
All SegmentsNet MarginQ2-135.757.8-334.8


May (2023)

Jiangxi Black Cat Carbon Black: 2023 Q1 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20232022YoY, %Notes
All SegmentsSales Revenue2023/12206.21848.719.3
All SegmentsDirect Total2023/12190.71792.722.2
All SegmentsGross Margin2023/115.556.0-72.2
All SegmentsEBIT2023/1-104.1.7-14916.3


November (2022)

Jiangxi Black Cat Carbon Black: 2022 Q3 Results  Link...

Jiangxi Black Cat Carbon Black: Investing in new 20k Mtpa speciality super conducting carbon black plant, Leping City, Jiangxi.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20222021YoY, %Notes
All SegmentsSales Revenue2022/32648.91855.942.7
All SegmentsEBIT2022/3-21.219.6-208.4
All SegmentsNet Margin2022/3-30.910.0-410.4


August (2022)

Jiangxi Black Cat Carbon Black: 2022 Q2 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20222021YoY, %Notes
All SegmentsSales Revenue2022/22806.72100.533.6
All SegmentsEBIT2022/298.7223.5-55.8
All SegmentsNet Margin2022/257.8185.0-68.8


May (2022)

Jiangxi Black Cat Carbon Black: 2022 Q1 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20222021YoY, %Notes
All SegmentsSales Revenue2022/11848.71858.2-.5
All SegmentsNet Margin2022/110.4275.1-96.2
All SegmentsEBIT2022/1.7311.1-99.8


November (2021)

Jiangxi Black Cat Carbon Black: 2021 Q3 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20212020YoY, %Notes
All SegmentsSales Revenue2021/31855.91386.833.8
All SegmentsEBIT2021/319.677.8-74.9
All SegmentsNet Margin2021/310.078.0-87.2


August (2021)

Jiangxi Black Cat Carbon Black: Forming Joint Venture with Anhui Heiyu Pigment New Material Co  Link...

Black Cat is forming a joint venture with Anhui Heiyu Pigment New Material to accelerate development of specialist carbon blacks for the domestic market. On establishment of the JV company Black Cat will purchase Anhui Heiyu assets and move quickly to scale-up speciality carbon black production for the mid-to-high-end speciality carbon black market.


Jiangxi Black Cat Carbon Black: 2021 Q2 Results  Link...

Jiangxi Black Cat Carbon Black: Increasing focus on speciality carbon blacks.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20212020YoY, %Notes
All SegmentsSales Revenue2021/22100.51106.789.8
All SegmentsEBIT2021/2223.5-69.6421.4
All SegmentsNet Margin2021/2185.0-65.1384.2


July (2021)

Jiangxi Black Cat Carbon Black: Expanding Chaoyang Plant  Link...

Black Cat Carbon Black are adding a 40 kMTpa tread line at their Chaoyang plant. This capacity and location is required to meet increasing tire demand in the region and to meet emission restrictions in the Beijing area.


May (2021)

Jiangxi Black Cat Carbon Black: 2020 Q4 Results  Link...

Jiangxi Black Cat Carbon Black: Global and especially domestic market demand recovered substantially in 2H 2020. Additional environmental controls implemented in the northern region of China have restricted production in this region and driven improved supply demand patterns and profitability.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20202019YoY, %Notes
All SegmentsSales Revenue20205559.86544.2-15.0
All SegmentsEBIT2020112.8-287.5139.3
All SegmentsNet Margin202097.0-276.4135.1
All SegmentsSales Revenue2020/41968.71705.715.4
All SegmentsEBIT2020/4102.4-163.7162.6
All SegmentsNet Margin2020/488.1-149.7158.8


April (2021)

Jiangxi Black Cat Carbon Black: Expanding Domestic Production at Wuhai Plant  Link...

Black Cat Carbon Black are planning to expand their Wuhai plant by 120 kMTpa with two 60 kMTpa production lines and steam generating plant. Construction is set to take 12 months with the increased capacity taking advantage of surplus feedstock in the region as well as capitalising on economies of scale.


August (2020)

Jiangxi Black Cat Carbon Black: 2020 Q2 Results  Link...

Jiangxi Black Cat Carbon Black: Results impacted by COVID-19, 2020 H1 carbon black sales volumes down 14.5% YoY.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20202019YoY, %Notes
All SegmentsSales Revenue2020/21106.71611.5-31.3
All SegmentsEBIT2020/2-69.6-38.0-82.9


July (2020)

Jiangxi Black Cat Carbon Black: 2020 1H Performance Forecast  Link...

Net profit for 1H 2020 is forecast to be around -70MM CNY. COVID-19 has had a significant impact. Carbon black prices fell by about 700 CNY/MT in April relative to feedstock drops of around 200 CNY/MT this had a serious impact on profitability. During this period utiisation rates dropped below 60%.

Domestic demand picked up from mid-May with domestic pricing rebounding from June with a sharp increase in July.


April (2020)

Jiangxi Black Cat Carbon Black: 2019 Full Year Results  Link...

Jiangxi Black Cat Carbon Black: Carbon black market pricing reduced significantly due to market factors. These factors included weak global demand due to trade friction, a downturn in the domestic automotive industry, lower crude oil pricing and new carbon black capacity.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20192018YoY, %Notes
Carbon BlackSales Revenue20195579.16767.2-17.6
Carbon BlackGross Margin2019358.91118.0-67.9
Carbon BlackSales Vol MT2019963200.0992300.0-2.9


Jiangxi Black Cat Carbon Black: 2020 Q1 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20202019YoY, %Notes
All SegmentsSales Revenue2020/11097.61559.8-29.6
All SegmentsGross Margin2020/1121.683.944.9
All SegmentsNet Margin2020/1-4.0-74.294.7


January (2020)

Jiangxi Black Cat Carbon Black: 2019 Preliminary Results  Link...

Preliminary results show negative net margin. The drop in performance is due to the decline in production and sales in the domestic automotive industry, combined with trade friction. Reduction in demand coupled with increased industry production volume has increased competition.


October (2019)

Jiangxi Black Cat Carbon Black: 2019 Q3 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20192018YoY, %Notes
All SegmentsSales Revenue2019/31667.11875.1-11.1
All SegmentsDirect Total2019/31534.41590.3-3.5
All SegmentsGross Margin2019/3132.8284.8-53.4
All SegmentsNet Margin2019/3-10.5133.7-107.9


August (2019)

Jiangxi Black Cat Carbon Black: 2019 Q2 Results  Link...

Jiangxi Black Cat Carbon Black: Results impacted by headwinds in domestic automotive industry and poor global trading conditions. Black Cat have accelerated their plans to implement the first overseas production base (Belarus) project. The new 20 kMTpa speciality carbon black production line has now come on-line and is expected to improve profitability.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20192018YoY, %Notes
All SegmentsSales Revenue2019/21611.52036.7-20.9
All SegmentsNet Margin2019/2-41.9171.3-124.4
Carbon BlackSales Vol MT2019/2453300.0487300.0-7.0


July (2019)

Jiangxi Black Cat Carbon Black: Announcement of Establishment of Overseas Subsidiaries  Link...

Having completed its production base plans in China, Jiangsi Black Cat are looking to expand under the implementation of the 'One Belt, One Road' policy. According to a 12th July filing, Black Cat have formulated a strategic plan for international development. The first move is a planned investment to build their first overseas production base in Belarus. Initial investment is for the setting up of a subsidiary: Jiangxi Black Cat Belarus Co Ltd which will oversea feasability and follow-on activities.


April (2019)

Jiangxi Black Cat Carbon Black: 2019 Q1 Results  Link...

Jiangxi Black Cat Carbon Black: Significant reduction in revenue with net loss in 2019 Q1, following on from poor 2018 Q4.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20192018YoY, %Notes
All SegmentsSales Revenue2019/11559.81861.1-16.2
All SegmentsGross Margin2019/183.9373.4-77.5
All SegmentsNet Margin2019/1-74.2134.8-155.1


Jiangxi Black Cat Carbon Black: 2018 Full Year Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20182017YoY, %Notes
Carbon BlackSales Revenue20186767.25765.417.4
Carbon BlackGross Margin20181118.01125.7-.7
Precipitated SilicaSales Revenue2018190.6178.66.7
Precipitated SilicaGross Margin201814.815.3-3.4


April (2018)

Jiangxi Black Cat Carbon Black: 2017 Full Year Results  Link...

Jiangxi Black Cat Carbon Black: Margin improvements due to improved market outlook resulting from environmental measures within China.

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production. Currency values reported in: Millions of CNY

SegmentParameterPeriod20172016YoY, %Notes
All SegmentsSales Revenue2017/42228.71305.470.7
All SegmentsGross Margin2017/4613.5275.4122.8
All SegmentsNet Margin2017/4161.998.364.7
Carbon BlackSales Revenue20175765.43680.756.6
Carbon BlackGross Margin20171125.7649.873.2


October (2017)

Jiangxi Black Cat Carbon Black: Q3 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production.

Jiangxi Black Cat Carbon Black: CNY Millions

SegmentParameterPeriod20172016YoY, %Notes
All SegmentsSales Revenue2017/31649.21125.646.5
All SegmentsDirect Total2017/31373.3883.455.5
All SegmentsGross Margin2017/3275.9242.113.9
All SegmentsNet Margin2017/3103.552.995.6


August (2017)

Jiangxi Black Cat Carbon Black: Planning New Specialist Carbon Black Line  Link...

According to Black Cats 2017 Q2 report they are planning 20k special carbon black line with the support of the Inner Mongolia New Coal Chemical Materials Research Institute. This project allowing them to reduce the dependency on the tire industry.


Jiangxi Black Cat Carbon Black: Q2 Results  Link...

Jiangxi Black Cat Carbon Black is China's biggest producer of furnace carbon black with capacity at just over 1 million metric tonnes. Rubber Chemical Consultants tracks Jiangxi Black Cat for total financial performance as well as performance in furnace black and precipitated silica production.

Jiangxi Black Cat Carbon Black: CNY Millions

SegmentParameterPeriod20172016YoY, %Notes
All SegmentsSales Revenue2017/21567.41080.845.0
All SegmentsNet Margin2017/2162.77.62031.5
Carbon BlackSales Revenue2017/22560.01648.455.3
Carbon BlackGross Margin2017/2553.5211.4161.8
Precipitated SilicaSales Revenue2017/266.938.773.1
Precipitated SilicaGross Margin2017/2-3.5-4.523.5


May (2017)

Jiangxi Black Cat Carbon Black: 2017 Q1 Results  Link...

Jiangxi Black Cat quarterly results for all segments (carbon black, precipitated silica, energy and coal chemicals).

Jiangxi Black Cat Carbon Black: CNY Millions

SegmentParameterPeriod20172016YoY, %Notes
All SegmentsSales Revenue2017/11502.1869.472.8
All SegmentsNet Margin2017/152.6-64.7181.2


April (2017)

Jiangxi Black Cat Carbon Black: 2016 FY and Q4 Results  Link...

Jiangxi Black Cat Carbon Black (JBC) are the leading domestic furnace carbon black producer in China. JBC have also recently invested in precipitated silica production and are in the early phases of growth in this segment.

Jiangxi Black Cat Carbon Black: CNY Millions

SegmentParameterPeriod20162015YoY, %Notes
All SegmentsSales Revenue2016/41305.41203.78.4
All SegmentsNet Margin2016/498.3.243110.5
Carbon BlackSales Revenue20163680.74089.0-10.0
Carbon BlackGross Margin2016649.8630.63.0
Carbon BlackSales Revenue2016/2H2032.41951.64.1
Carbon BlackGross Margin2016/2H438.4312.140.5
Precipitated SilicaSales Revenue201684.165.428.7
Precipitated SilicaGross Margin2016-8.3-11.6-28.0
Precipitated SilicaSales Revenue2016/445.533.735.1
Precipitated SilicaGross Margin2016/4-3.8.4-1131.5

2016/4Domestic prices bottomed out with over supply featuring in first half. In the second half state reform of upstream industries (coal and steel) along with stricter environmental controls in the carbon black industry have reduced the number of players and have helped to balance supply and demand thereby improving profitability.


October (2016)

Jiangxi Black Cat: 2016 Q3 Results  Link...

All Segments: YOY income increased by 4% with an increase in margin from 17.9 to 52.9 MM Yuan. QOQ income increased by 4% with marin increasing from 7.6 MM to 52.9 MM Yuan.


August (2016)

Jiangxi Black Cat: 2016 Q2 Results  Link...

All Segments: YOY income down 15% and margin down 57%. QOQ income up 24% and margin up to +7.6 MM Yuan from -64.7 MM Yuan in the first quarter.

First half: Net loss of -57.1 MM Yuan versus 2015 first half profit of 42.3 MM Yuan.


RCCL Industry Analysis:

Analysis Snippet: Jiangxi Black Cat Carbon Black

The figure below inidicates the current issue for Chinese carbon black manufacturers. Direct costs (all costs associated with manufacture of the product) are compared with sales revenue and sales volume. It can be seen that sales revenue and direct costs are converging in the period 2014 Q4 to 2016 Q2 while the sales volume has remained flat. This indicates that the balance of direct costs and selling price is less favourable to margin generation resulting from differences in regional feedstock pricing (due to different feedstock mixes) and market pressures (over supply in China and slow down of demand in other regions).

Given the current circumstances, the reduced gross margin for suppliers such as Black Cat will lead to internal pressures to reduce both direct and indirect costs.


black cat financials q2 2016

April (2016)

Jiangxi Black Cat: 2016 Q1 Results  Link...

All Segments: YOY Income down 29% (869 vs 1217 MM Yuan) and net loss of -64.7 MM Yuan vs 7.9 MM Yuan profit in the previous Q1.

QOQ Income down 28% and margin dropped from a profit of 36.3 to a loss of -64.7 MM Yuan.


March (2016)

Jiangxi Black Cat: 2015 FY Results  Link...

Feedstock price differentials reversed the historic benefit for Chinese carbon black manfuacturers leading to pricing pressures and unfavourable economics for export. The domestic over supply situation gave significant pricing pressure with product prices declining faster than the reduction in feedstock price leading to reduced margins.

Production was 985 kMT with sales of 1022 kMT and a sales revenue of 477.5 MMM RMB (down 22.6%) with profit of 1.7 MM RMB (down 82%).


March (2014)

Jiangxi Black Cat Carbon Black Co., Ltd: Stage 1 of Jining Plant Completed  Link...

Hamburg, Germany – Lehmann & Voss announced that its Luvomaxx range’s partner JiangXi Black Cat has opened its eighth production facility for furnace black and carbon black in Jining, Shandong province, China. The new plant in Jining commenced production in mid-March 2014 initially with two lines each producing 40 kilotonnes (kt) of reinforcing furnace black. An additional line for reinforcing and another for semi-reinforcing carbon black are set to be added by the end of 2014. When investment is complete, the plan is to operate a total of four lines at 40 kt of active carbon black and one line at 40 kt of semi-active carbon black, giving a total capacity of 200,000 tonnes. The “largest manufacturer of furnace black“ in China will then have an overall capacity of 1.09m tonnes and “should therefore occupy at least the number four position in the world rankings“.


September (2011)

Jiangxi Black Cat Carbon Black Co., Ltd: Acquire Land in Tangshan, Hebei for New Carbon Black Plant  Link...

Jiangxi Black Cat Carbon Black have aquire a plot of land in Tangshan, Hebei province for a new carbon manufacturing facility. The company plans to build a 200 kMTpa production facility on the site.


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