Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Dowa Holdings has withdrawn its FY2020 forecast as a result of COVID-19’s detrimental effects on its business.


As recently as early April, the company projected its copper and lead outputs would increase while its zinc production would be flat in H1 2020 from a year earlier. 


In FY2019, company’s net sales of non-ferrous metals increased to $2.1bn from $2bn during its previous fiscal, largely because of favorable raw material buying conditions. 


However, Dowa’s metal processing division’s net sales declined to $765mn in FY2019 from $856bn in FY2018 on fewer copper alloy sales for use in automobiles and smartphones.


Dowa’s total net sales in FY2019—which include environmental recycling, electronics material, heat treatment, nonferrous metals, and metals recycling—jumped to $4.5bn from $4.2bn in FY2018. The firm’s total operating income increased in FY2019 to $241bn from $173bn in FY2018. 


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