These people know very well that the move of selling the new mine is not trivial, and if they are not careful, it is very likely that the entire group will fall into a situation from which they will never recover. They are not willing to put themselves in a position where they may be taking huge risks at such a critical juncture. Maintaining the status quo is the best option for them to protect themselves.

The two sides were at a stalemate, and Zheng Guorui took Li Xin's prediction of copper prices several times as an example, and it happened that Xue Chenzhi also wanted to hear other people's views on copper prices. In this matter, he thinks that Li Xin is still an understanding person, and what he said is not too outrageous. So he simply ordered Yu Hong to call Li Xin in and let him talk about his opinion at the meeting.

Hearing that they wanted to let themselves talk about their views on copper prices, Li Xin knew that these people at the conference table were already clear about the fact that copper prices had fallen to the limit today.

So he didn't do any foreshadowing, and said straight to the point: "I think copper prices will continue to fall, at least below the 50,000 yuan mark." ”

Xue Chenzhi then asked: "After breaking the threshold of 50,000 yuan, what will be the lowest position?"

"After breaking 50,000 yuan, it will continue to fall by about 1,000~2,000 yuan, that is, to 48,000 yuan. ”

"Why is this the position?

Li Xin said: "More than two years ago, the first line of 48,000 yuan was a dense transaction area. Looking down from above, after the price falls below 50,000 yuan, it will be a strong support point at that position. ”

After Xue Chenzhi listened, he turned his head to Zheng Guorui, who was sitting on the side, and said, "That is to say, there is still 5,000 yuan of space downward." ”

Zheng Guorui nodded: "Yes." ”

Jiang Hua asked Zheng Guorui at this time: "The price of copper is already so low, what can you do if you sell it at this price?"

Zheng Guorui asked rhetorically: "What do you mean, and what can you do? I don't understand what you mean?"

Jiang Hua explained: "I mean that the price of copper has fallen to this position, in case the price of copper rises again after we sell it, wouldn't it be a complete loss?"

Li Xin listened in a daze, and couldn't understand what they said they were selling.

At this time, I only heard Zheng Guorui say: "Copper prices must rise and fall, and the key issue now is that you have to consider where copper prices will rise for a long time in the future." Let me ask you, how likely do you think the price of copper will rise to more than 78,000 yuan in the next two or three years?"

Jiang Hua hesitated for a moment, and then said, "It's not impossible." ”

Zheng Guorui listened to Jiang Hua's answer and felt a little helpless: "I didn't say it was impossible, what is the possibility of you asking you to rise to the price of 78,000 yuan?"

Jiang Hua didn't say anything this time.

Zheng Guorui then said at this time: "You also think that the possibility of copper prices rising above the price of 78,000 yuan in the next two or three years is very small, right? The copper price of this new mine in our hands was around 78,000 yuan when we bought it that year. In other words, if the new mine is profitable, it will only be possible if the copper price rises above $78,000. Since the probability of copper prices rising above this price in the next two or three years is very small, that means that in the next two or three years, we will have to live the current hard life every day, and we will have to pay tens of millions of yuan in loan interest to the bank every month, which does not include the principal. You can think about it, if this kind of life continues for two or three years, will the group be able to sustain it? That's why I just said that the long pain is better than the short pain, and the most important thing now is to sell the mine as soon as possible. In this way, the whole group can throw away this long-term burden and move forward lightly. Otherwise, the copper price will be hovering between 50,000 or 60,000 yuan in the next two or three years, and this new mine will bring down the group. ”

Li Xin only understood when he heard this, and the thing they were discussing just now to sell turned out to be a new mine.

Zheng Guorui continued: "Another point worth noting is that the situation like our Southern Group is not a minority in the national non-ferrous metals industry. More than two years ago, in the process of rapid rise in copper prices, many companies rapidly expanded their scale, resulting in high raw material costs. Whether the current copper price of more than 50,000 yuan is high or low depends on who you compare it with. If it is compared with the historical high of more than 80,000 yuan two years ago, it must be very low. But if you compare it with 20,000 or 30,000 yuan three or four years ago, the price is still at a very high level. It is not difficult to figure out this question, and everyone can go back and think about what the copper price of our southern bloc is. If it weren't for the high cost of the new mine, the copper price of our original smelter would still be very profitable to sell, right? But after the cost of the new mine is amortized, and at the current price, we will lose a ton of copper when we sell it. ”

Li Xin had just figured out the topic of this meeting when he heard Xue Chenzhi say, "Li Xin, it's nothing for you, you can go out." ”

Of course, Xue Chenzhi knew that Li Xin, a young man, was still a bit of a real talent. When he was Liu Zhongzhou and Jin Changxing's deputy, he was also not used to Liu Zhongzhou, Jin Changxing and others' behavior towards Li Xin, because at that time he was a potential competitor of Liu Zhongzhou and Jin Changxing, and of course he was happy to see someone attack the number one. But now the angle is different, he is now in charge of the overall situation of the Southern Group, regardless of whether his subordinates have the ability or not, their absolute obedience to himself is the first. What's more, this meeting is one of the several high-level management meetings he has presided over since he became the leader, and he is at the time of establishing his personal prestige at this time, Li Xin's unruly personality is very clear to him, and he doesn't want Li Xin to make trouble for himself in such a meeting.

Li Xin stood up and walked out of the conference room after hearing this. Xue Chenzhi and others are accustomed to his calling and calling style, but the Southern Group has reached this juncture, and these bigwigs have not forgotten to put on an official show, which makes him feel a little ridiculous.

To be honest, he really didn't know much about the topic at the meeting, although he thought that what Zheng Guorui said made sense, but he really didn't have the right idea to tell him whether it was a good time to sell the mine. Because before that, Li Xin did not have a clear idea of how much copper the cost of the new mine corresponded to.

However, Zheng Guorui is different, as the group's finance minister, he has the most accurate cost data within the group.

After the price of copper fell from its high level in the past two years, no one knows the glaring figures on the financial statements better than him.

The continuous expansion of losses and the tens of millions of real money that he had to pay every month made him know that such a day could not be sustained, otherwise it was difficult to say how long his income could last, so he dared to express his judgment at this meeting again.

After Li Xin went out, the people in the conference room discussed for a long time. In the end, Xue Chenzhi finally made his attitude clear: "Then let's hang out the news of the sale of the mine on the major asset transfer platforms first." ”

Zheng Guorui's words just now touched Xue Chenzhi's heart, as the director of the smelter, he felt the deepest about the big burden that dragged the Southern Group to today. If you don't get rid of this burden, the originally profitable smelter will never be able to turn over, and the life of the acting chairman will not be better than that of Jin Changxing.

At this time, someone said: "But many of the procedures for this mine are in the hands of the bank, and they have to sell it." ”

Xue Chenzhi said: "Of course I know this, let's hang out the news to explore the market first, and then tell the bank when it comes to the actual operation stage." There's a process to this, and it's good to have clear news in a month or two. Besides, the bank also wants money, and if it really comes to the point where they can't pay the interest and the principal, they have an egg with this mine, don't they have to sell it?"

Li Xin came out of the small conference room and returned to the office, and then looked at the trend of London copper prices, before the close of the domestic futures market at 3:00 today, the trend of London copper prices followed the trend of domestic futures copper prices fell sharply, and before 3:00, London copper prices have been hovering at a low level, although they are not pressed on the falling limit like domestic copper prices, but the decline is also considerable.

By 5 p.m., the lowest copper price in London had reached $6,717, which was 5.48% lower than the closing price of $7,107 on the previous trading day, which was even much larger than the 4% decline in domestic futures copper prices.

However, after 6 p.m., the price of copper in London gradually began to rise from a low of $6,717.

At the close of trading at 2 p.m., the price of copper in London was $6,855, narrowing the decline to 3.54%.

Although this decline is not small, it is almost half compared to the 5.68% decline in the afternoon.

If calculated according to the lowest price in this trading day, then the lowest price of London copper on this trading day also hit a new low this year, but if calculated according to the closing price of this trading day, then the closing price of this trading day is actually not low, it is higher than the opening price on September 10.

The careful Li Xin has actually noticed that the trend of London copper prices bottoming out and rebounding is somewhat different from the trend of domestic copper prices pressing on the falling limit. But because the copper price in London still fell by 3.54%, he didn't take this anomaly to heart.

At 9 o'clock in the morning on September 17th, perhaps due to the impact of the bottoming out and rebounding trend of London copper prices last night, or perhaps the bears felt that the more than 30,000 short orders pressed on the falling limit board at the close of trading yesterday afternoon were a bit too much of a loss at such a low position yesterday.