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History of the three steel mills slashed prices of domestic rare

High Pressure Boiler Tube News: Steel slashed prices of domestic history of the three rare

It is noteworthy that the three major steel mills in the price policy in July, led lower by surprise is the high-end products have been selling before the car plate. For example, Baosteel's automotive board cut 1,000 yuan / ton, Wuhan Iron and Steel cut 1,200 yuan / ton, basically taking the first half of the gains. So deep rate cut prices shown on steel orders in the afternoon, suffered a very great pressure. In fact, according to statistics of China Association of Automobile Manufacturers, China's vehicle production in March declined for two consecutive months since has been, in May of domestic production of 1,416,600 vehicles, down 9.4% chain.

Weakening of demand for downstream, Baosteel Group Chairman Xu Lejiang considered the automotive, appliance consumption after continuous high growth, "fatigue" caused by "the basic money bought, did not buy the still save money." In addition, from mid-April this also affected the real estate regulation, "If people do not buy the house, on cars, appliances and other durable consumer goods demand will decline."

Customs data released on the day before, after Baosteel, the country's two biggest steel central enterprises - Wuhan Iron and Steel and Anshan Iron and Steel Policy announced in July the price will be the mainstream product ex-factory price down 300 yuan / ton -1 200 yuan / ton range Baosteel cut prices drop and had quite. Down all three major steel mills, for the first time this year, while the magnitude of the past, was extraordinary.

Slowdown in consumption growth, leading to a rapid rise in steel stocks. China Federation of Logistics and Purchasing released in May PMI index, the ferrous metal industry, inventory of finished goods index was 62.3, compared with 39.3 in April rose 23 points, ranking first in the industry. "Observed the adjustment of the domestic steel prices can be divided into three stages: First, the spot market steel prices fell, and second, steel cut ex-factory price, three traders in the price of cleaning up inventory before they hit bottom. At present, the adjustment in the second stage. "UBS Securities report said, which means that in the short term is difficult to reverse the decline trend of steel prices.

Weak performance of steel prices, is also a high fever for this year's iron ore market has been poured cold water. Customs data released on the 10th, in May China imported 51.9 million tons of iron ore, up the chain have declined, this is the first time this year. In the amount minus the same time, prices have also dropped. According to "joint metal net," the latest data, 10, domestic iron ore spot price is only 150 U.S. dollars / ton, nearly 190 U.S. dollars over the previous / t correction of about 40 dollars.

Although the spot market iron ore "volume and price down," but according to International Mine's "quarterly pricing" model, three-quarter iron ore contract price will be from March to May based on the development of spot price, which means there is further room for improvement. "The decline in steel prices, while mine has a tough price to upgrade mine, based on even the leading steel enterprises are likely to occur the next monthly loss scenario." Researcher Liu Yuanrui Changjiang Securities, said. Once into the red, the domestic steel mills will be forced to "cut" in response. At present, although there is no phenomenon of large-scale production cuts, but "maintenance" in the name of the appropriate cuts have been created, which will sooner or later reflected in the upstream raw materials to the market.
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