Steel charges fallen back to 15 years before, metal and iron alloy enterprises miserable day

08.05.2009 | Author: zou yuhong | Posted in Career

by Zou himfr

Affected by hard metal costs waited small, and foreign hard metal financial gatherings through the days it looks like that the more aching – yield carried on to descent, more and more losses.

“My iron and steel,” the latest statistics show that over the past week, domestic steel prices continued to trend down, this is the tenth consecutive week of decline steel. Plate prices continued to decline, has been narrowed, the biggest price reduction in tons of 100 yuan or less; hot and cold rolled slightly lower prices, the Shanghai market thick hot-rolled product specifications tons around 3080 yuan price level consolidation; large tons of material prices in the price drop of 20 yuan.

And the tendency of iron alloy charges proceeded to drop in line, the profitability of household iron alloy businesses are furthermore drastically reduced.

The night of April 19, China’s Wuhan Iron and Steel Company portions of foremost iron alloy output in 2008 Annual Report issued in 2009 and the quarter described by the provision for down turn in worth of large supplies, as well as groundwork for the considerable decline in iron alloy demand for the influence of the year in 2008, as well as the presentation of the first quarter of this year, there down turn – 2008 functioning earnings was accomplished 73.339 billion yuan, up 35.41 per hundred development, but down turn as a outcome of provision of supply prepared to 1.645 billion yuan, ascribed to shareholders of recorded businesses snare earnings of 5.189 billion yuan, up 20 per hundred decline. Worse still, the realization of the first quarter 2009 functioning earnings 10.913 billion yuan, up 30 per hundred fall in snare earnings 263 million yuan, up 87.17 per hundred year-on-year decline. Wuhan Steel portions pessimistically state that this year is still hopeful about the general position, the first half of the presentation of the identical time span last year will be down more than 50%.

Prior to this, steel and hard metal enterprises in China Baoshan Iron & Steel advertised in 2008 the total yield was 86.7 billion yuan, up 55.1 out of 100 descent, down more than WISCO.

The downturn in steel market is not only the impact of iron and steel enterprises in China, the international steel giant is also “very injured.”

April 20, Japan’s largest steel companies Nippon Steel Corporation said that its fiscal 2008 regular profits over the previous fiscal year is expected to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its forecast in January when the 400 billion yen.

Nippon Steel said that the automotive and electric commerce as a outcome of foremost customers to elaborate output of its iron alloy yield proceeded to decline. First quarter of this year dropped to the output design the company’s annals since the origin of the smallest issue, only five million tons. Actual output may be poorer, even less than the design for more than 300,000 tons.

Earlier in the day, another very large South Korean Pohang Iron and Steel Rail said that as of March 31, its last year’s mesh wages plunged 68 out of 100, which is the financial gathering since the first quarter of 2001, the greatest descent since.

“China’s hard metal habitation of the second quarter of arduous to foundation out.” To the flow of steel and hard metal analyst Productivity Center Rongliang He said that the Chinese hard metal market after the end of the commencing of the year short-term rebound, costs plunged stridently again. At present, the market demand, shrinking trade overseas, while hard metal goods produced in addition did not realise the wished for objectives, the complete downward spiral in hard metal market. In the worldwide economic procedure is looked frontwards to to carry on heading down, the overload steel and hard metal goods produced under the insist of the second quarter of the in the household hard metal market has bottomed out, costs rebounded stridently difficult.

China Steel Association newest statistics display that 3 at the end of the household composite iron alloy cost catalogue to 97.59 points, dropped 44.72 points, 31.42 per hundred decline. China Steel Association in the groundwork of the cost catalogue in April 1994 of the composite iron alloy cost for 100 points, it is clear-cut that the integrated iron alloy charges have now less than 15 years ago.

“China’s overload hard metal scope for notably, the market deliver insist, more meaningfully, modified the movement of the worldwide economic procedure down.” However, Rongliang He said that hard metal costs have plunged stridently, and charges have declined to the small costs the second referred space small. Steel costs in May in the complete enterprise surroundings will be enhanced, will move into a quite unwavering time period.

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