China Steel Association: steel market is expected to remain stable overall-Zhongrui Metal Material

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China Steel Association: steel market is expected to remain stable overall

Release time:

2017-10-26

In order to further improve the CSPI China steel price index monitoring system and provide more comprehensive, accurate and timely price information services for relevant national ministries and commissions, relevant industries and enterprises, on September 22, the Iron and Steel Association held a forum on the work of steel price index in Jinan, Shandong Province. Qu Xiuli, vice chairman of the Iron and Steel Association, Zhang Li, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, Zheng Yulan, and Wang Zhe, director of the Price Department of the National Development and Reform Commission attended the meeting. Relevant personnel from the Financial Assets Department of the Iron and Steel Association, the Metallurgical Industry Information Center, and nearly 90 representatives from steel companies, trading companies, websites and related industries across the country attended the meeting.

Zhang Li, deputy director of the State-owned assets Supervision and Administration Commission, said in his speech that since the beginning of this year, with the continuous promotion of the country's supply-side structural reform, the iron and steel industry has shown a good trend of improving supply and demand, rebounding steel prices, and improving enterprise efficiency. China's steel price index is becoming more and more perfect, and it has played an increasingly important role in reflecting market changes and serving the government and enterprises. It has become an important indicator for national ministries and all sectors of society to understand the economic operation of the industry, and strengthen and improve macro-control for the country., Promote the healthy development of the industry, and guide the production and operation of enterprises to provide an important basis for decision-making. As a project supported by the SASAC price index, the Iron and Steel Association should continue to strengthen the basic work of the steel price index, improve the price index monitoring system, and further improve the ability to serve the government and enterprises. At the same time, it is necessary to strengthen the management of the use of funds and rationally arrange project expenditures.

In his speech, Wang Zhe, director of the National Development and Reform Commission, fully affirmed the achievements made by the Iron and Steel Association in the monitoring of steel price index, and believed that China's steel price index is highly representative and standardized in operation, which can accurately reflect the changes in steel market prices and has been widely recognized by government departments and market entities, it is of great significance to improve the transparency of steel market price, reduce the information cost of market transaction and enhance the game ability of China's steel industry in the international market. It is expected to play a greater role in leading the market and stabilizing the market in the future.

Qu Xiuli, vice president of the Iron and Steel Association, made an analysis report on the operation and later trend of the iron and steel industry from January to August. She mentioned in the report that since the beginning of this year, the steel industry has accelerated the release of advantages and compliance capacity, the contradiction of market oversupply has been alleviated, and the economic benefits of enterprises have improved significantly. There are three main reasons for the obvious improvement in the operation of the iron and steel industry: first, the national economy has maintained a steady and positive development trend, infrastructure investment and real estate development investment have maintained year-on-year growth, automobile, shipbuilding and other major steel industries have been running smoothly, and the demand for steel has not declined. Second, the elimination of excess capacity and the ban on "strip steel" have freed up a certain amount of market space, and the supply-side structural reform has achieved remarkable results. Third, iron and steel enterprises have done a lot of work in tapping potential and increasing efficiency, reform and innovation, and have made great efforts in controlling the procurement cost of raw materials and fuels such as iron ore, controlling steel inventory, improving labor productivity, promoting energy conservation and emission reduction, improving the level of comprehensive utilization of resources, and promoting the reform of system and mechanism.

Chairman Qu believes that there are some outstanding problems in the operation of the steel industry. First, market expectations are too optimistic and there is excessive interpretation of the impact of policies. At present, the market has over-interpreted the production capacity, the removal of "strip steel" and environmental supervision, as well as the "2+26" urban air pollution prevention and control plan. It is believed that the supply of steel products will be greatly reduced due to the impact of environmental protection in the later period, and the price of steel will continue to rise sharply. Judging from the current situation, the market supply and demand are basically stable, and it is difficult for steel prices to continue to rise sharply in the later period; second, the price of raw materials has risen, the cost support effect is obvious, and the profit margin of steel companies is still low. In the third quarter, the prices of raw materials and fuels such as iron ore, coal and coke showed an upward trend, and the effect of the price increase will be reflected in the fourth quarter. From January to August, the sales profit margin of member steel companies was less than 4%, which was still significantly lower than the level of 6.09 in the industrial industry; third, the problems of financing difficulties and expensive financing were still prominent. Although the state has taken many measures to promote financial policies to support the development of the real economy, affected by the overcapacity of the steel industry, the problems of financing difficulties and expensive financing for steel companies are still prominent, and the debt burden is heavy. At the same time, the "debt-to-equity swap" implemented by iron and steel enterprises is actually a real debt, the capital cost is higher after the conversion, and the progress and pace of deleveraging need to be further accelerated.

Regarding the development trend in the later period, Chairman Qu pointed out that the macroeconomic environment at home and abroad will continue to maintain a stable and positive development trend in the later period. The iron and steel industry will continue to step up efforts to eliminate backward production capacity and strictly prevent the resurgence of "strip steel. It is expected that the steel market will remain stable as a whole, and steel prices will fluctuate slightly. The economic benefits of the company throughout the year are significantly better than in 2016.

President Qu asked the Financial Assets Department of the Iron and Steel Association and the Metallurgical Industry Information Center to seriously study and actively implement the instructions and requirements of the leaders of the national ministries and commissions on the price index work, and further improve the steel price index work.

Participants discussed and exchanged the characteristics of recent steel price trends, studied and passed the "CSPI China Steel Price Index Compilation Method" and "Steel Price Index Information Staff Work Management Measures", and how to further improve the CSPI China Steel Price Index Monitoring System, Improve the application level of the price index put forward suggestions. The meeting also praised the excellent information staff, and 22 information staff were rated as "excellent information staff in China's steel price index monitoring work" in 2016-2017 ".

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