Steel charges fallen back to 15 years before, metal and iron alloy enterprises miserable day
Affected by steel prices remained low, and foreign steel companies across the days it seems that the more painful - profits continued to decline, more and more losses.
"My metal and steel," the newest statistics display that over the past week, household iron alloy charges proceeded to tendency down, this is the tenth successive week of down turn steel. Plate charges proceeded to down turn, has been tapered, the large-scale cost decrease in tons of 100 yuan or less; warm and freezing revolved somewhat smaller charges, the Shanghai market broad hot-rolled merchandise specifications tons round 3080 yuan cost grade consolidation; large tons of material charges in the cost fall of 20 yuan.
And the trend of steel prices continued to fall in line, the profitability of domestic steel companies are also 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 downward spiral in hard metal market is not only the consequence of steel and hard metal enterprises in China, the global hard metal oversized is in addition "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 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 current statistics present that 3 at the end of the in the household composite hard metal charge indicator to 97.59 points, plunged 44.72 points, 31.42 out of 100 decline. China Steel Association in the training of the charge indicator in April 1994 of the composite hard metal charge for 100 points, it is blatant that the integrated hard metal costs 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. - 21392
"My metal and steel," the newest statistics display that over the past week, household iron alloy charges proceeded to tendency down, this is the tenth successive week of down turn steel. Plate charges proceeded to down turn, has been tapered, the large-scale cost decrease in tons of 100 yuan or less; warm and freezing revolved somewhat smaller charges, the Shanghai market broad hot-rolled merchandise specifications tons round 3080 yuan cost grade consolidation; large tons of material charges in the cost fall of 20 yuan.
And the trend of steel prices continued to fall in line, the profitability of domestic steel companies are also 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 downward spiral in hard metal market is not only the consequence of steel and hard metal enterprises in China, the global hard metal oversized is in addition "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 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 current statistics present that 3 at the end of the in the household composite hard metal charge indicator to 97.59 points, plunged 44.72 points, 31.42 out of 100 decline. China Steel Association in the training of the charge indicator in April 1994 of the composite hard metal charge for 100 points, it is blatant that the integrated hard metal costs 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. - 21392
posted by X - Men @ 12:25 AM
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