The steel trade has finally sit still.

The face of rapidly shrinking bank loans, the largest steel trade Chamber of Commerce in Shanghai the Zhouning Shanghai Chamber of Commerce has sent a letter to all commercial banks in Shanghai, requiring banks to smooth lending, reduce the costs of the middle to receive financing to avoid the steel trade across the board, accidental injury with good the credibility of the steel trade enterprise.

Obviously, a lot of running, suicide, the industry has become the object of the eyes of the banks strictly controlled. "Banks are increasingly tightening 'pocketbook' to face the pressure of the steel trade body is also increasing, the open letter of the Chamber of Commerce, to some extent reflects the industry has now reached a critical moment a matter of survival, do not take action The situation could be worse. "iron and steel industry insiders Xu Jianguo told reporters.

It is understood that in Zhouning Chamber of Commerce issued an open letter, only the Industrial Bank and Minsheng Bank to respond.

"In the case of the current steel market downturn, relax the loan risk of banks, so the steel trading business loans and has not substantially improved." Zhu Xian, senior steel industry analyst, told reporters.

The size of credit has shrunk by 23%

According to data provided by the the Zhouning Shanghai Chamber of Commerce, last year's total bank financing of the steel trade and industry reached 160 billion, from the beginning of the year to the present, the scale of financing has been over a year contraction for more than 23%. Many steel trade reflects the loan money has been difficult from banks.

Zhu Xian told reporters that this year the bank received the loan on the steel trade so tight in the final analysis or market reasons, "steel prices continue weak, banks to relax their restrictions, their own will face certain or even systemic risk . "

Steel trade and industry more than a decade to establish the integrity of the system has been badly hit, there has been a serious lack of liquidity and private funds have to get away from the steel trade enterprise, steel trade enterprise liquidity unprecedented difficulties faced by the industry-wide funds The risk of strand breaks, bank loan maturity is not the situation on the rise. "the Zhouning Shanghai Chamber of Commerce in an open letter with respect the current situation have adverse effects.

In the open letter, the Zhouning Shanghai Chamber of Commerce in addition to proposed requiring banks to smooth lending of the steel trade, also made recommendations to reduce financing the middle of fees, grace and cooperation Guarantee Corporation.

"These issues are the steel trade and providers need to be resolved, especially in the guarantee company in the steel trade and business loans, in order to control the risk of bank bad debts, bad debts, after widespread use of UNPROFOR, the mutual insurance class lending model. has entered the blacklist of many banks, and at least two large state-owned banks stopped the the UNPROFOR class business and the business of private security company in Shanghai. "steel trade analyst Liu Baoxing introduced to solve these problems, steel trading business funding issues to be resolved, otherwise the industry outlook is bleak. "

Good faith, however off?

Zhou Ning, Shanghai Chamber of Commerce executive president Xiaozhi Cheng told the media that "there is news that some banks on the closing of the steel trade and loan size of up to 30% -40%, while the actual situation according to their own liquidity, investment and construction, and debt liabilities, the bottom line can not exceed 25%, while some steel trading business is also concerned that banks will not be further reduced to 50% -60%, that will lead to greater systemic risk. "

Side of the Chamber of Commerce for the loans to be tightened and complain, the other side of the banks are also very wary of the steel trade and industry. "If the market some of the words, the banks of the steel trade and business lending may be more relaxed. In addition, the steel trade and industry self-regulation is not strong, the Bank has been constantly tightening of the 'pocketbook' one of the reasons." Zhu Xian told reporters.

Resting from on foot, and then to Nanjing suicide, surnamed Wang, female boss, the steel trade circles frequent event time for the bank sounded the alarm.

"These steel trading business funding strand breaks, not only did not take the normal approach, but to escape, and even death of as a solution to the left bank is a bunch of bad debts, leaving the industry to lend to their The huge funding gap, which allows banks to make up the determination of the tightening of lending. "Liu Baoxing told reporters.

In addition, the memory of the steel trade and industry in the "hidden rules" also makes the bank is not assured.

Part of the steel trade, the use of the vulnerability of the bank inventory management in order to obtain more loans, the steel repeatedly pledged in the market. Such behavior is more common in the industry, and seriously disturbed the normal trade order. "Liu Baoxing told reporters.

Although the pledge process is more stringent, there is still steel trading business to find ways to be abused and lead. Some steel trade enterprises have only a cargo, or simply out of stock and warehousing enterprises through various means to issuance of false warehouse receipts, and then holding the false warehouse receipts to the multiple applications of one or more banks pledge lending.


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