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One, in the first half of the iron and steel industry operating conditions and difficulties existing
(a) in the first half of the iron and steel industry operating conditions
Crude steel production growth slightly, member enterprise crude steel output fell. In the first half of the total crude steel production 357 million tons, up 1.8% from a year earlier, at the same time member enterprise crude steel output fell 0.1% year on year, compared to the production of 310000 tons, 74 member enterprises there are 33 year-on-year decline in output. But non-members enterprise production jumped 12.9%, that is to say, since this year's new crude steel output all from non-members of local small and medium-sized enterprises.
—— a weak market, steel prices have been low. Since the price of steel fell sharply in the fourth quarter of last year, steel prices have been running low volatility. After the Spring Festival this year, as the weather gets warmer, steel prices have rebounded, but as a result of rapid steel production growth higher factors, inventory levels, in late April after continue to fall. Until July 6, the China iron and steel association, domestic steel composite price index was 114.53 points, 5.92 points lower than at the end of last year, a 4.91% decline; Sharp than the same period last year fell 19.31 points, down 14.43%.
——Profits have fallen sharply, industry is on the verge of loss. According to steel association statistics, in the first half of the members of iron and steel enterprises profit was only 2.385 billion yuan, total drastically reduced compared to the 54.549 billion yuan, 95.81% damping; Loss of loss of 14.248 billion yuan, KuiSunMian reached 33.75%. Return on sales from 3.06% during the same period last year, dropped to just 0.13%. Industry profit level is very low and on the verge of loss, if deduct investment returns, the steel business actually losing money.
——Iron and steel industry of investment in fixed assets continued to grow, but growth is falling. In the first half of the iron and steel industry accumulative total investment of 291.1 billion yuan in fixed assets, up 12.05% from a year earlier, but growth fell 4.8% year on year. Among them: ferrous metal acquisition investment 63 billion yuan, up 22.8% from a year earlier, growth year-on-year increase 4.2%; Smelting and rolling black investment 228.1 billion yuan, up 9.4% from a year earlier, fell 5.4% year on year growth.
——Steel export growth, but the structure need to be optimized. Converted into crude steel 28.99 million tons, exports during the first half of the steel imported steel, billet converted into 7.59 million tons of crude steel, reduced net exports during the first half of 21.4 million tons of crude steel, year-on-year increase of 4.36 million tons, an increase of 25.6%. To ease pressure played a role in the domestic market, but export steel unit price $960 per ton on average, imported steel unit price $1326 per ton on average, export steel structure to be optimized.
(2) the steel industry during the first half of the difficulty of operation
——Downstream industry growth is clearly slowing, steel demand is weak. In the first half of this year because of the country's real estate regulation policy implementation, as well as railways, highways and other infrastructure construction projects investment dropped sharply. Car production in China during the first half year-on-year growth of 4.1% only; National shipbuilding completions fell 10.1% year on year, and other major steel industry, steel demand growth slowly, therefore,In the first half of China's crude steel apparent consumption compared with almost no growth. So social consumption increment of steel mainly digestive inventory (including the end user and dealer inventories in the hands of a steel circulation). Our country construction and industrial manufacturing steel consumption intensity drops (adjustment) and demand growth slowed sharply, market oversupply caused by steel prices prompted society destocking is the main characteristics of the steel market in China during the first half of the year.
——Iron ore, etc. The original fuel prices high, companies face huge difficulties cost reduction. According to the association of monitoring data, imports of iron ore prices from $136.3 a tonne, late last year rose to $152.9 in mid-may,In iron ore imports in July average landed price is still $138.15 a tonne. Under the condition of the steel prices keep falling, imports of iron ore and other original fuel price remains high, this is not normal, should take further measures to encourage imports ore prices down further.
——Companies face financing costs is high, the dual pressure of money is tight. Since this year, companies are still facing the financing, financing difficulties, difficulties, can't afford to quite a number of enterprises of bank funds is used, the second is to use. Mainly displays in: loan interest costs too much; Discount interest payments; Loans are harder to borrow, especially of medium - and long-term loans. According to the association, member enterprise financial expenses rose 37% year-on-year in the first half of the year.Due to market continued weakness, iron and steel enterprises and users of funds are in a tight state, sales amount up there is a big difficulty, especially the payment collecting the cash ratio is low, cause enterprise financial strain.
Although faces many difficulties, but the iron and steel industry according to the market demand control output and adjust the structure of varieties, production jacking and increase export achievements should be fully recognized. Because of the influence of shipbuilding, rail industry, in the first half of the thick plate, plate, medium plate, total output 3.26 million tons, compared to the pay cut by 8.45%; Heavy rail production fell 19.4%, medium thickness steel band wide fell 0.9%, large steel fell 3.5%, bar by 0.1%.
Enterprises to actively expand the market, in order to produce top into and expand the export has achieved remarkable results. Imports of steel year-on-year decrease during the first half of 1.078 million tons, including cold rolled plate imports to reduce 260000 tons, fell 14.3% year on year; Coating plate (with) increase exports of 257000 tons, up 9.9%; Electrical sheet (with) imports of 110000 tons, fell 21.7% year-on-year, while exports of 46000 tons, up 54.2% from a year earlier, seamless steel pipe exports increased by 16.4%, imports down by 8.8%.
Second, in the second half of the situation facing the steel industry
In the first half of this year, steel production growth a bigger drop than the same period last year, by the rapid growth of the past 10 years is to moderate growth; Under the same GDP, steel consumption intensity decreased, the steel structure change of user requirements, overall steel production and supply formed steel products most varieties of the structure adjustment of changes in market supply and demand.Macroeconomic situation requires transformation of the mode of development is of great urgency, iron and steel enterprise must take the initiative to adapt. Therefore, to fully understand the domestic and international economic situation influence on steel industry
One is the European debt crisis impact on steel industry.
Europe's financial crisis unrest caused by Europe's debt crisis, external demand fell significantly. Is negative growth in the first half of this year China's exports to the eu, because our country foreign trade export proportion of exports to the eu is larger) after (relegated to second in the United States during the first half, so has a significant influence on China's economic growth.
China's steel exports to the European Union's 27 countries in 2011 to 5.17 million tons, a year-on-year increase of 3.89 million tons, up by 33.3%, but I steel exports to the eu in the first half of this year has plunged 27%. Growth in China's steel exports during the first half of the total 12. %, mainly of asean, the Middle East, South America, Africa, and America's export growth. But is worthy of special attention，The eurozone PMI in June already in the bottom for three years, the PMI final value is 45.1, while the PMI fell below 50 for the first time in three years, to 49.7. These conditions will increase the difficulty of the second half of the our country mechanical and electrical products and steel products export Europe and the United States.
Second, fixed asset investment growth fell back to the influence of the steel industry.
Since May 2010, continuous adjustment of the real estate market in China, as well as the railway, highway investment in fixed assets is dropped sharply this year in our country the main cause of fixed asset investment dropped more than expected.
Fixed asset investment grew 20.4% year-on-year in the first half of the country, in the same period last year dropped 25.6% 5.2%, mainly by rail investment fell by 36.9%, the influence of highway investment growth fell by 7.8%.
Real estate, the housing construction investment growth and speculative housing is restrained under the joint action of real estate development investment grew 16.1% year-on-year during the first half, down 16.3% year-on-year. New construction area of the building fell 7.1%, and 23.6% growth for the same period last year.
Dropped sharply in the real estate investment growth, railway, highway investment was negative, and the first half of mechanical and electrical products export growth fell to 10.5% from 19.5% over the same period last year's large drop, make in the first half of this year our country industry growth rate from 14.3% in the first half of last year, dropped to 10.5%.
In the case of steel production capacity continues to grow, the combination of these factors contributed to weak steel market, prices, raw material cost is high, enterprise small profit even loss in difficult situation.
Three is a steel overcapacity and steel market prices are low is a sign of global.
First of all, the excess capacity is a global problem. International steel association released 62 major steel-producing countries and regions in the world in May 2012 product steel 131 million tons, up 0.7% from a year earlier, capacity utilization rate of 79.6%. Domestic if calculated according to above 900 million tons of production capacity, according to the level of crude steel nissan in May, capacity utilization rate is less than 80%.
Second, the international and domestic steel prices are falling. CRU international market steel prices from the end of March 2011 high of 222.8 month fell to 186.1 points at the end of may this year, prices fell 16.47%, while China's domestic steel composite price index from 2011 at the end of may is 135.93 high every month back to 117.52 points at the end of may this year, the price also fell 13.54%. Cif to end of may this year, China imported steel in the far east, for example, compared with market price in China can see slightly different. Recently due to a weak market, part of the iron and steel products in international market, export price down further.
From international and domestic macroeconomic situation and forecast market demand analysis, the domestic iron and steel enterprises to face difficulties and "winter" prepared for the long term.
Third, in the second half of the industry focus on work
(1) must be vigorously reduce steel inventories, promote market stability
In the second half of the year some positive policies will likely stimulate rebound in steel output, lead to enterprise and social inventory increase, make the enterprise's achievements disqualified production, during the first half of this member enterprise must remain on high alert. Enterprise must adhere to in order to fix the quotas for marketing, manufacturing-according-to-sale, effective control of production. Control output is stable steel market, the key factor to lower the price of the original burning material, organization and must adhere to the contract no less than manufacturing industry self-discipline that doesn't cost production requirements
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(2) increasing loss-mitigation turnround, achieve "profitability"
First of all, carry out "for the development" activities, to reduce the cost. Iron and steel enterprises to further strengthen from the original burning material procurement to production, sales, logistics, comprehensive cost control of construction, especially to reduce the purchasing cost. Second, strengthen the capital management, further improve the service efficiency of funds, adhere to the principle of don't give money not to deliver goods, and strictly control the accounts receivable, effectively improve the service efficiency of funds, reduce bank lending, reduce financial expenses.
(3) actively develop high value-added steel products on the international market
Actively create conditions, to promote high technology content, high value-added steel products export. The combination of products in the first half of this year our country import year-on-year decline further, but I steel exports average unit price than imported steel unit price less $366 per ton on average, 27.6% below. Therefore, we must adjust the export structure, and actively create conditions to promote the combination product exports, the export amount is not the case, reduce raw material consumption, and to gradually reduce low-value steel exports. Should be clear, the extensive use of high iron ore imports to exports low-value steel instead of iron and steel enterprises in our country development direction.
(4) to strengthen the construction of the steel from iron ore supply chain
Given the height of imported iron ore monopoly situation, increase its self-sufficiency rate of iron ore iron and steel enterprises is to keep steady supply of raw materials, reduce operating costs, enhance the competitive advantage of important ways. On the one hand, to continue to adhere to the "going out" development strategy, to obtain overseas iron ore resources, speed up the implementation of the iron ore import strategy. To accelerate the development of domestic iron ore resources, on the other hand hope countries from the policy support for the development of domestic iron ore, iron and steel enterprises at the same time to reduce mining enterprise tax burden. Work to further strengthen industry self-discipline, to conscientiously implement the requirements of imported iron ore trade agency system, to give full play to the leading role of China's iron ore price index, to make the nascent iron ore spot trading platform in Beijing really ?
(5) seize the favorable opportunity, positive in terms of product structure adjustment, vigorously promote energy conservation and emissions reduction work, promote transformation and upgrading of structure optimization, the iron and steel industry
Work should grasp the following four aspects: one is the improved variety, improve quality, to produce more high strength, corrosion resistance, long life of high quality steel, the overall decrease in steel; 2 it is the energy conservation and emissions reduction as the main attack direction in the transformation and upgrading of enterprises and breakthrough, adhere to the green development, the real focus on reducing energy consumption, pollution management, and emissions reduction; Three is outspread, optimize industrial chain, and docking of downstream users, prominent specialization, implement differentiation, the product promoted to include services, reputation of brand; Four use informationization to promote industrialization, in the process of "two" depth fusion, promote technology, improve technology, equipment, management, cultivating core competitiveness has its characteristics.
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