Asia Carbon Industries completes conversion project for carbon black

On August 14, Asia Carbon Industries announced its earnings for the quarter ended June 30, 2013, reporting net sales of $5,487,310 for the quarter, down 58% from $13,194,534 for the same quarter of 2012. Selling prices for the company’s products averaged $796/tonne during the quarter, down 14% from $929/tonne for the same period of 2012 (pricing average includes both carbon black and naphthalene oil). The company sold 6,890 tonnes of carbon black and oil during 2Q 2013, down 52% from 14,208 tonnes of product sold during the same quarter of 2012. The decrease in sales volumes was due primarily to the suspension of production as the company converted three of of its production lines to specialty carbon black, a project that was begun in October 2012 and completed during 2Q 2013. The decrease in pricing was due to lower coal tar oil prices, which is the primary feedstock for carbon black production.