The hottest Chinese iron and steel enterprises fel

2022-08-02
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China's iron and steel enterprises fell into the downturn again, and the sales profit margin was almost zero.

China's iron and steel enterprises fell into the downturn again, and the sales profit margin was almost zero.

China Construction Machinery Information

Guide: on the 8th, the Ministry of industry and information technology of China released the analysis of the operation of the iron and steel industry in 2012 and the operation outlook for 2013, pointing out that in 2012, affected by the slowdown of economic growth at home and abroad, excess capacity and high financial costs, The production and operation of China's iron and steel enterprises once again restricted the amount of steel used in construction, and fell into a downturn. The iron and steel industry entered the stage of transformation and upgrading

on August 8, the Ministry of industry and information technology of the people's Republic of China released the analysis on the operation of the iron and steel industry in 2012 and the operation outlook for 2013. It pointed out that in 2012, affected by factors such as slowing economic growth at home and abroad, overcapacity and high financial costs, China's iron and steel enterprises fell into a downturn again, and the iron and steel industry entered a "painful period" of transformation and upgrading. 80 key large and medium-sized iron and steel enterprises achieved a total sales revenue of 3544.1 billion yuan, a year-on-year decrease of 4.3%; The realized profit was 1.58 billion yuan, a year-on-year decrease of 98.2%, and the sales profit margin was almost zero (only 0.04%)

2012, affected by factors such as slowing economic growth at home and abroad, overcapacity and high financial costs, China's iron and steel enterprises fell into a downturn again, and the iron and steel industry entered a "painful period" of transformation and upgrading

I. operation of China's iron and steel industry

(I) crude steel output increased slightly and regional development was uneven. In 2012, China produced 716.54 million tons of crude steel, a year-on-year increase of 3.1%; Iron production was 657.91 million tons, an increase of 3.7%; 95.186 million tons of steel products (including duplicate materials) were produced, an increase of 7.7%, and the year-on-year growth rate dropped by 4.2, 4.7 and 2.2 percentage points respectively. In terms of various regions, the growth rate of crude steel output in Xinjiang, Guizhou, Fujian, Jilin, Yunnan and Guangxi exceeded 10%; The output of crude steel in Shanxi, Jiangsu, Hebei and other provinces increased by 9.4%, 8% and 6.2% respectively year-on-year, higher than the national average growth rate; The output of economically developed regions such as Tianjin and Shanghai, and provinces and cities with high capacity concentration such as Chongqing and Hunan decreased by more than 7%

(II) the growth rate of net steel export is stable, and the iron ore price has rebounded rapidly recently. In 2012, China exported 55.73 million tons of steel, a year-on-year increase of 14%; 13.66 million tons of imported steel, down 12.3%; 360000 tons of imported steel billets, down 43.3%; The total amount of billets converted into net exports of crude steel was 42.07 million tons, a year-on-year increase of 26.3%, and the growth rate was basically the same as that of the previous year. In 2012, China imported 743.55 million tons of iron ore, a year-on-year increase of 8.4%, and the average import price was $128.6/t, a year-on-year decrease of $35.4/t. The monthly average ore price began to rise after falling to the annual low of 104.9 US dollars/ton in October. Especially in the past more than one month, the ore price rebounded rapidly. By January 2013, the transaction price had risen rapidly to more than 150 US dollars/ton

(III) the price of steel fell sharply, and the price of long products fell significantly. In 2012, the steel price level on the technical use and technical push instructions of the experimental machine was generally lower than that of the previous year. Especially since the middle of April, the market has experienced a continuous sharp decline, and the price once fell to the 1994 level. At the end of December, the comprehensive steel price index of China Iron and steel industry association was 105.3 points, down 15.2 points from the beginning of the year, down 12.6%. From the perspective of product structure, the price decline of long products (rebar, wire rod, etc.) is greater than that of plates (thin plate, medium and heavy plate, etc.), and the long-term situation of "long, strong and weak" has changed. By the end of 2012, the national average price of grade III deformed steel bar was 3808 yuan/ton, down 672 yuan/ton compared with the same period of the previous year; The average price of 3.0mm hot rolling was 4081 yuan/ton, down 273 yuan/ton

(IV) the social inventory of steel continues to decline, and the inventory pressure of steel enterprises also provides a strong driving force for the development of instrument and equipment technology and industry. In 2012, the domestic social inventory of steel showed a continuous downward trend. From February to the end of December, the social inventory of major steel markets in China was 11.88 million tons, 7.06 million tons lower than the highest point in the year, and 1.02 million tons lower than the same period of the previous year. The continuous decline of social steel inventory transmitted the pressure of market supply and demand contradiction to the production enterprises. Last year, the steel inventory of steel enterprises remained at a high level, of which 12.32 million tons reached the historical peak in July. By the middle of November 2012, the inventory of steel enterprises had reached 10.64 million tons, an increase of 6.1% over the same period in 2011

(V) the enterprise's benefit has fallen sharply, and the investment in fixed assets has dropped significantly. In 2012, 80 key large and medium-sized iron and steel enterprises achieved a cumulative sales revenue of 3544.1 billion yuan, a year-on-year decrease of 4.3%; The realized profit was 1.58 billion yuan, a year-on-year decrease of 98.2% 8. Test space: 600mm, and the sales profit margin was almost zero (only 0.04%). In 2012, the total investment in fixed assets of the iron and steel industry was 658.4 billion yuan, a year-on-year increase of 3%, of which the investment in ferrous metal smelting and rolling processing industry was 505.5 billion yuan, a year-on-year decrease of 2%, and the growth rate dropped significantly

II. Problems in the operation of the iron and steel industry

(I) the growth rate of downstream consumer demand fell, and overcapacity became more prominent. In 2012, the national real estate development investment increased by 16.2% in nominal terms over the previous year, and the growth rate dropped by 11.9 percentage points year-on-year; The growth rate of gross industrial output value (product output) of machinery, automobile and household electrical appliance industries has also dropped significantly. The weak demand in the steel market has continued, and the utilization rate of crude steel production capacity has only reached 72%

(II) the trend of ore price is stronger than that of steel price, and steel enterprises are in a passive position. In September 2012, the price of imported iron ore fell by 43 dollars/ton compared with the same period of the previous year, equivalent to a decrease of about 450 yuan per ton of material cost, while the price of steel fell by about 1200 yuan/ton in the same period. When the market rebounded from September to December 2012, except for hot-rolled plate and medium plate, most steel varieties increased by about 200 yuan/ton, while the price of imported iron ore increased by about 50 dollars/ton in the same period. Iron ore alone increased the cost of per ton material by about 500 yuan. Large fluctuations in ore prices have caused serious losses to many enterprises. In the first 11 months of 2012, Shougang Group reduced its profits by 10.7 billion yuan due to product decline, increased its profits by 7billion Yuan due to raw fuel price reduction, and reduced its consolidated profits by 3.7 billion yuan

(III) the industrial concentration is reduced, and the investment growth rate of non key enterprises is not reduced. Since 2012, most key large and medium-sized iron and steel enterprises have taken measures to reduce production due to the market downturn, which has eased the market supply-demand relationship to a certain extent, but some non key enterprises have increased production with the help of low-cost advantages. For example, in the first 11 months, the output of key large and medium-sized iron and steel enterprises decreased by 0.6% year-on-year, non key enterprises increased by 23.3%, and the industrial concentration of the top ten iron and steel enterprises also decreased from 48.3% to 46.1%. While the investment in key large and medium-sized iron and steel enterprises decreased by 27.8% year-on-year, the investment in non key enterprises increased by 17.4%. Non key enterprises accounted for 83.6% of the fixed asset investment in the iron and steel industry, far exceeding the key large and medium-sized enterprises

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