Steel charges fallen back to 15 years before, metal and iron alloy enterprises miserable 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 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, 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 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 greatest hard metal financial gatherings Nippon Steel Corporation said that its fiscal 2008 standard yield over the earlier fiscal year is looked frontwards to to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its prediction 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 iron alloy town of the second quarter of tough to base out." To the flow of metal and iron alloy analyst Productivity Center Rongliang He said that the Chinese iron alloy market after the end of the starting of the year short-term rebound, charges dropped harshly again. At present, the market demand, shrinking trade items, while iron alloy output furthermore did not accomplish the yearned objectives, the general worsening in iron alloy market. In the international finances is anticipated to extend down high ground, the surplus metal and iron alloy output under the force of the second quarter of the household iron alloy market has bottomed out, charges rebounded harshly 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 excess steel capacity significantly, the market supply pressure, more importantly, changed the trend of the global economy down." However, Rongliang He said that steel prices have fallen sharply, and costs have dropped to the low prices the latter space small. Steel prices in May in the overall business environment will be improved, will enter a relatively stable time period. - 18423
"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 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, 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 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 greatest hard metal financial gatherings Nippon Steel Corporation said that its fiscal 2008 standard yield over the earlier fiscal year is looked frontwards to to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its prediction 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 iron alloy town of the second quarter of tough to base out." To the flow of metal and iron alloy analyst Productivity Center Rongliang He said that the Chinese iron alloy market after the end of the starting of the year short-term rebound, charges dropped harshly again. At present, the market demand, shrinking trade items, while iron alloy output furthermore did not accomplish the yearned objectives, the general worsening in iron alloy market. In the international finances is anticipated to extend down high ground, the surplus metal and iron alloy output under the force of the second quarter of the household iron alloy market has bottomed out, charges rebounded harshly 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 excess steel capacity significantly, the market supply pressure, more importantly, changed the trend of the global economy down." However, Rongliang He said that steel prices have fallen sharply, and costs have dropped to the low prices the latter space small. Steel prices in May in the overall business environment will be improved, will enter a relatively stable time period. - 18423
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