August 19, 2008 Overview of the steel industry – steel prices, steel industry – steel industry
Chinese economy is still likely to remain around 9% growth rate: This year, the Chinese economy has maintained steady and fast development momentum, but the growth slowed down. Figures show that 10.4% of China's economic growth during the first half, compared with 1.8 percentage points a year earlier. At present, China's economic activities in the complexity, uncertainty over the past, new situations and new problems come one after another. "In this context, to grasp the trend of the Chinese economy, more attention to China's economic fundamentals." Deputy director of the State Council Development Research Center, said Liu Shijin. Liu Shijin that for some time, even if economic growth to enter this round of adjustment, there are fundamental factors that support and the effective macro-control and structural adjustment policy support, the Chinese economy is still likely to remain around 9% growth rate. Three ministries jointly issued a notice to further improve the management of small secured loans: For the "The People's Republic of China Employment Promotion Law" and "the State Council on the good work of promoting employment notice" (Guo Fa [2008] 5) the spirit, and actively promote the business to improve employment, by the State Council, PBC, Ministry of Finance, Human Resources and Social Security jointly issued recently on "Further improvement of secured loans to actively promote small business and promote employment notice." "Notice" clear policies to further improve the small secured loans, secured loans small innovative management and service delivery.
NDRC: high energy consumption of steel exports are still increasing: National Development and Reform Commission yesterday released in July of that foreign trade situation, the 1 July, China's exports over the previous year (the same below) 26.9% growth, 8.5 percentage points lower than the import growth, trade surplus accumulated 123.72 billion U.S. dollars, down 9.6 %. The report reminded the current Foreign Trade in a number of issues that need attention, present a "two high and one capital" (high pollution, high energy and resource) exports continue to increase. In fact, it is decision-makers do not want to see, since last July 1, 2831 commodity export tax rebate adjustment, the purpose is to reduce the "two high and one capital" exports. From now, the policy in a number of export commodities still have not received results, such as urea, steel and so on. Increase in volume and prices go steel industry performance "good news" or no suspense: Today, Lingganggufen, Liu Gang Shares are scheduled semi-annual report in 2008 revealed, now, listed 32 steel enterprises in more than 10 companies opened in the first half of the "performance veil." Although iron ore, coal and other raw materials prices increased to some extent the cost burden of each company, but iron and steel enterprises in the first half but still maintained a "profit-maker," the character, while the sales volume increases, price increases become increase their performance direct "catalyst." Zhang: Olympic Games coal price adjustment will depend on the circumstances: National Development and Reform Commission deputy director, National Energy Secretary, said Zhang in Beijing on the 18th, after the Olympic Games of coal, electricity, oil price trend will be the country's overall economic development, domestic and international energy situation and the relationship between market supply and demand factors. Zhang said, had for some time, concern the supply of diesel, fuel line phenomenon has eased, particularly gasoline supply has been fairly relaxed. How will the Olympics change the future price of oil, according to the overall economic development after the Olympic Games as well as domestic and international energy conditions. Upward pressure on tax rates than coal coke: Coal frequent emergency, the government stabilize the price of coal, to ensure domestic supply of re-shot: August 20, the China's coke export tentative tax rate from 25% to 40%; coking coal exports of provisional tax from 5% to 10 %; and other bituminous coal and other export levy provisional tariffs on provisional rate is 10%. Increasing tax rates affect different pairs trades. We believe that the tax rate from 25% to 40% greater impact on the coke industry, coal tax rate from 5% to 10% less impact on the coal industry. Shugang so hard to drop the import stock Iron ore price Pudie: Yesterday was informed that the import of iron ore spot prices last week, a significant drop in imports of iron ore port of spot prices of various varieties fell 40-60 yuan / ton, down 4% -6% range, but did not enlarge the market volume, trading The two sides are still optimistic expectations, it may be the next market continued to fall. Last week, stocks in major ports ore imports 73.42 million tons, an increase of 38 million tons, of which India was 20.9 million tons ore.
[Steel City Review] Today, the domestic steel market as a whole is still in the sidelines, the recent downturn in demand, the market cheap Paohuo phenomenon is more evident.
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