Steel prices dropped back to 15 years ago, iron and steel enterprises sad day
Affected by iron alloy charges stayed reduced, and foreign iron alloy businesses over the days it appears that the more sore - earnings proceeded to down turn, more and more losses.
"My steel and steel," the current statistics present that over the past week, in the household hard metal costs carried on to movement down, this is the tenth following week of descent steel. Plate costs carried on to descent, has been constricted, the largest charge lessening in tons of 100 yuan or less; sultry and chilled turned over to some extent worse costs, the Shanghai market wide hot-rolled wares specifications tons throughout 3080 yuan charge stage consolidation; large tons of material costs in the charge decline of 20 yuan.
And the movement of hard metal costs carried on to plunge in line, the profitability of in the household hard metal financial gatherings are in addition 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, iron and steel enterprises in China Baoshan Iron & Steel announced in 2008 the total profit was 86.7 billion yuan, up 55.1 percent decline, down more than WISCO.
The worsening in iron alloy market is not only the influence of metal and iron alloy enterprises in China, the worldwide iron alloy monster is furthermore "very injured."
April 20, Japan's biggest iron alloy businesses Nippon Steel Corporation said that its fiscal 2008 normal earnings over the preceding fiscal year is anticipated to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its outlook in January when the 400 billion yen.
Nippon Steel said that the automotive and electrical industries as a result of major customers to expand production of its steel output continued to decline. First quarter of this year fell to the production plan the company's history since the founding of the lowest point, only five million tons. Actual production may be worse, even less than the plan for more than 300,000 tons.
Earlier in the day, another big South Korean Pohang Iron and Steel Rail said that as of March 31, its last year's net income fell 68 percent, which is the company since the first quarter of 2001, the largest decline 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 latest statistics show that 3 at the end of the domestic composite steel price index to 97.59 points, fell 44.72 points, 31.42 percent decline. China Steel Association in the preparation of the price index in April 1994 of the composite steel price for 100 points, it is apparent that the integrated steel prices have now less than 15 years ago.
"China's surplus iron alloy capability considerably, the market provide force, more significantly, altered the tendency of the international finances down." However, Rongliang He said that iron alloy charges have dropped harshly, and charges have fallen to the reduced charges the last cited space small. Steel charges in May in the general enterprise natural environment will be advanced, will go in a somewhat steady time period. - 18758
"My steel and steel," the current statistics present that over the past week, in the household hard metal costs carried on to movement down, this is the tenth following week of descent steel. Plate costs carried on to descent, has been constricted, the largest charge lessening in tons of 100 yuan or less; sultry and chilled turned over to some extent worse costs, the Shanghai market wide hot-rolled wares specifications tons throughout 3080 yuan charge stage consolidation; large tons of material costs in the charge decline of 20 yuan.
And the movement of hard metal costs carried on to plunge in line, the profitability of in the household hard metal financial gatherings are in addition 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, iron and steel enterprises in China Baoshan Iron & Steel announced in 2008 the total profit was 86.7 billion yuan, up 55.1 percent decline, down more than WISCO.
The worsening in iron alloy market is not only the influence of metal and iron alloy enterprises in China, the worldwide iron alloy monster is furthermore "very injured."
April 20, Japan's biggest iron alloy businesses Nippon Steel Corporation said that its fiscal 2008 normal earnings over the preceding fiscal year is anticipated to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its outlook in January when the 400 billion yen.
Nippon Steel said that the automotive and electrical industries as a result of major customers to expand production of its steel output continued to decline. First quarter of this year fell to the production plan the company's history since the founding of the lowest point, only five million tons. Actual production may be worse, even less than the plan for more than 300,000 tons.
Earlier in the day, another big South Korean Pohang Iron and Steel Rail said that as of March 31, its last year's net income fell 68 percent, which is the company since the first quarter of 2001, the largest decline 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 latest statistics show that 3 at the end of the domestic composite steel price index to 97.59 points, fell 44.72 points, 31.42 percent decline. China Steel Association in the preparation of the price index in April 1994 of the composite steel price for 100 points, it is apparent that the integrated steel prices have now less than 15 years ago.
"China's surplus iron alloy capability considerably, the market provide force, more significantly, altered the tendency of the international finances down." However, Rongliang He said that iron alloy charges have dropped harshly, and charges have fallen to the reduced charges the last cited space small. Steel charges in May in the general enterprise natural environment will be advanced, will go in a somewhat steady time period. - 18758
posted by X - Men at
12:14 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home