In the second half of December 2011, the average daily output of crude steel in the country was 1.664 million tons, which was a drop of 2.38% compared with the previous period. Experts suggest that steel enterprises can moderately reduce production. After entering 2012, the profits of the steel industry fell to the “freezing pointâ€. Does this represent the beginning of the "cold winter" in the steel industry? Recently, due to poor demand and sluggish market, steel traders have no choice but to have earlier holidays than in previous years. What is more chilling for the industry is the news that last week the trading volume of the steel market was almost zero. At the same time, due to the fact that the market is still not optimistic after the Spring Festival, iron and steel traders' winter storage plans have also basically failed.
After the steel industry entered a period of low profit, the domestic steel market did not usher in a new year. According to report, in the first two weeks of 2012, steel prices showed a downward trend as a whole. As of January 13, the representative quality of secondary rebars in Shanghai was around RMB 4,160/ton, down 20 yuan/ton from last Friday; while the quality rebars in Shanghai were quoted at 4,360 yuan/ton. Compared with the previous Friday, the figure was lowered by RMB 20/t. In the same period, the steel price index of the domestic steel spot trading platform Nishimoto Shinkansen was at RMB 4,250/ton, down 10 yuan/ton from the previous Friday. In September last year, the steel price The index had reached 4,820 yuan/ton.
Looking back at last year, due to the rising cost of the steel industry, coupled with the poor market conditions, the profits of major steel mills in the country have plummeted, and the steel industry has gradually entered a period of “low profitâ€. The chairman of Baosteel Group once stated on this matter that in the current economic environment, China will maintain this kind of low-profit operation in the next two to three years.
Zhu Jimin, chairman of the China Iron and Steel Association and chairman of Shougang Corporation, pointed out that from January to November 2011, the profit of sales of member companies included in the statistics of the Association of Steel Associations fell to 2.55%, of which, in October and November, the member steel companies broke the profit and loss of the current month. After that, they only achieved profits of 1.4 billion yuan and 1.22 billion yuan respectively, and the average sales revenue profits were 0.48% and 0.43% respectively. He also stressed that the steel company of the China Iron and Steel Association was net loss of 920 million yuan in November 2011 if it deducted investment income. The loss of the company has exceeded 1/3.
The reason why the steel industry is experiencing a difficult period of time, the reporter learned that the primary reason should be that the cost of raw materials, mainly iron ore, remains high.
According to report, the average CIF price of imported iron ore from January to November 2011 was US$166.21/ton, which was a year-on-year increase of 31.49%. From January to November 2011, the cumulative import of 62.20 million tons of iron ore, an increase of 24.716 billion US dollars in expenditure. Taken together, the total cost of product sales from January to November 2011 for member companies included in the statistics of the Steel Association rose by 23.6% over the same period of the previous year.
“To sum up the current procurement principles of the downstream downstream steel industry, it must be 'on-demand purchases and appropriate amounts'. In 2011, the global economic growth slowed down, to ease domestic inflation and price pressures, and to respond to global market economic turmoil. The downstream industry of iron and steel can be said to have suffered the most stringent policy controls. The trouble is not only that the capital and the international financial environment turmoil also attacked the steel market at the same time, causing the downstream steel groups to bow in one fell swoop.†People have said.
Experts suggest that steel companies moderate production cuts From the perspective of steel enterprises, last week, the China Steel Association data show that in the second half of December 2011, the average daily output of crude steel was 1.664 million tons, a drop of -2.38%, which is the lowest output of the year. In this case, industry experts suggest that steel companies can take appropriate measures to reduce production.
Taking Wuhan Iron and Steel Group as an example, it is reported that the current group has already planned to reduce its business plan for the entire year of 2012. The specific adjustment is to adjust annual sales to RMB 230 billion and profit to RMB 3 billion. Compared with the profit of more than 3.5 billion yuan in 2011, this figure may show a negative growth this year. Prior to this, the general manager of Wuhan Iron and Steel Company once said: "In 2012, the steel industry will once again enter the 'winter'."
Industry analysts who asked not to be named stated that the environment at home and abroad is extremely complicated and there are many unstable factors. In addition, factors such as shortage of iron ore resources and high logistics costs have restricted the operation of the steel market this year. The factories have also looked at the steel market. It seems that the pressure on the steel makers in 2012 is not small.
Last year, industries such as automobiles, home appliances, real estate, and infrastructure construction were adversely affected. The slowdown in spot flow, the surge in inventories, and the serious losses have all been pushed into the cusp of the storm.
For 2012, with the loosening of the funding policy, 7 million sets of affordable housing construction will be on the right track, and the new home appliance policy will come down. This may stimulate a certain demand, but overall, the future of the steel market is still not tolerable. Optimistic, for the purchaser, it is still on-demand procurement, adequate and relatively safe.
U.S. Securities’ iron and steel industry analyst Tang Yibo once pointed out that China’s real estate will continue to be regulated in 2012. It is expected that the start of commercial housing will fall by 15%, but the new target for affordable housing in 2012 is 7 million units, plus 2011. For the part that has not actually started construction in the year, it is expected that the newly started construction area of ​​social security housing in 2012 will be a little more than in 2011, so that the essential driving force for steel demand will be more apparent than in 2011.
However, some steel mills and steel traders were cautious about the "safe housing market" after experiencing last year's expectations. A number of steel traders have publicly stated that in the first half of last year, the industry generally had hopes for the construction of affordable housing, and actual demand release was not expected to be as large as it was. In 2011, the indicator was that 10 million sets of affordable housing should be started, but Starting piling does not necessarily lead to continuous construction. The actual speed of construction is not so fast. Many local governments and developers do not have sufficient incentive to ensure the construction of affordable housing.
After the steel industry entered a period of low profit, the domestic steel market did not usher in a new year. According to report, in the first two weeks of 2012, steel prices showed a downward trend as a whole. As of January 13, the representative quality of secondary rebars in Shanghai was around RMB 4,160/ton, down 20 yuan/ton from last Friday; while the quality rebars in Shanghai were quoted at 4,360 yuan/ton. Compared with the previous Friday, the figure was lowered by RMB 20/t. In the same period, the steel price index of the domestic steel spot trading platform Nishimoto Shinkansen was at RMB 4,250/ton, down 10 yuan/ton from the previous Friday. In September last year, the steel price The index had reached 4,820 yuan/ton.
Looking back at last year, due to the rising cost of the steel industry, coupled with the poor market conditions, the profits of major steel mills in the country have plummeted, and the steel industry has gradually entered a period of “low profitâ€. The chairman of Baosteel Group once stated on this matter that in the current economic environment, China will maintain this kind of low-profit operation in the next two to three years.
Zhu Jimin, chairman of the China Iron and Steel Association and chairman of Shougang Corporation, pointed out that from January to November 2011, the profit of sales of member companies included in the statistics of the Association of Steel Associations fell to 2.55%, of which, in October and November, the member steel companies broke the profit and loss of the current month. After that, they only achieved profits of 1.4 billion yuan and 1.22 billion yuan respectively, and the average sales revenue profits were 0.48% and 0.43% respectively. He also stressed that the steel company of the China Iron and Steel Association was net loss of 920 million yuan in November 2011 if it deducted investment income. The loss of the company has exceeded 1/3.
The reason why the steel industry is experiencing a difficult period of time, the reporter learned that the primary reason should be that the cost of raw materials, mainly iron ore, remains high.
According to report, the average CIF price of imported iron ore from January to November 2011 was US$166.21/ton, which was a year-on-year increase of 31.49%. From January to November 2011, the cumulative import of 62.20 million tons of iron ore, an increase of 24.716 billion US dollars in expenditure. Taken together, the total cost of product sales from January to November 2011 for member companies included in the statistics of the Steel Association rose by 23.6% over the same period of the previous year.
“To sum up the current procurement principles of the downstream downstream steel industry, it must be 'on-demand purchases and appropriate amounts'. In 2011, the global economic growth slowed down, to ease domestic inflation and price pressures, and to respond to global market economic turmoil. The downstream industry of iron and steel can be said to have suffered the most stringent policy controls. The trouble is not only that the capital and the international financial environment turmoil also attacked the steel market at the same time, causing the downstream steel groups to bow in one fell swoop.†People have said.
Experts suggest that steel companies moderate production cuts From the perspective of steel enterprises, last week, the China Steel Association data show that in the second half of December 2011, the average daily output of crude steel was 1.664 million tons, a drop of -2.38%, which is the lowest output of the year. In this case, industry experts suggest that steel companies can take appropriate measures to reduce production.
Taking Wuhan Iron and Steel Group as an example, it is reported that the current group has already planned to reduce its business plan for the entire year of 2012. The specific adjustment is to adjust annual sales to RMB 230 billion and profit to RMB 3 billion. Compared with the profit of more than 3.5 billion yuan in 2011, this figure may show a negative growth this year. Prior to this, the general manager of Wuhan Iron and Steel Company once said: "In 2012, the steel industry will once again enter the 'winter'."
Industry analysts who asked not to be named stated that the environment at home and abroad is extremely complicated and there are many unstable factors. In addition, factors such as shortage of iron ore resources and high logistics costs have restricted the operation of the steel market this year. The factories have also looked at the steel market. It seems that the pressure on the steel makers in 2012 is not small.
Last year, industries such as automobiles, home appliances, real estate, and infrastructure construction were adversely affected. The slowdown in spot flow, the surge in inventories, and the serious losses have all been pushed into the cusp of the storm.
For 2012, with the loosening of the funding policy, 7 million sets of affordable housing construction will be on the right track, and the new home appliance policy will come down. This may stimulate a certain demand, but overall, the future of the steel market is still not tolerable. Optimistic, for the purchaser, it is still on-demand procurement, adequate and relatively safe.
U.S. Securities’ iron and steel industry analyst Tang Yibo once pointed out that China’s real estate will continue to be regulated in 2012. It is expected that the start of commercial housing will fall by 15%, but the new target for affordable housing in 2012 is 7 million units, plus 2011. For the part that has not actually started construction in the year, it is expected that the newly started construction area of ​​social security housing in 2012 will be a little more than in 2011, so that the essential driving force for steel demand will be more apparent than in 2011.
However, some steel mills and steel traders were cautious about the "safe housing market" after experiencing last year's expectations. A number of steel traders have publicly stated that in the first half of last year, the industry generally had hopes for the construction of affordable housing, and actual demand release was not expected to be as large as it was. In 2011, the indicator was that 10 million sets of affordable housing should be started, but Starting piling does not necessarily lead to continuous construction. The actual speed of construction is not so fast. Many local governments and developers do not have sufficient incentive to ensure the construction of affordable housing.
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