July 6, 2012, according to a Reuters report, sources said on Friday, the number of banks have agreed to resume lending to the domestic steel trading company, these traders had joint appeal to the bank in June.
 
Domestic banks tightening of new loans to steel traders since April, after the CBRC warned to be cautious lending to such enterprises, saying they are big loans for real estate and stock speculation.
 
Reported that the resume lending to the domestic steel supporting role will be limited due to the improvement of the lending channel is basically restricted to established trade enterprises. Bank sources said the still cautious about the lesser-known companies, these companies may still funds for investment in risky assets.
 
"Recently we have been in consultation with a number of banks, they have agreed to open credit lines and lower lending rates." Zhou Huarui, Shanghai Iron and Steel Industry Industry Association, China CITIC Bank has agreed to the loan interest rate of the will of steel traders from June 1 35% to 10%, Minsheng Bank also agreed to reduce the more than two percentage points.



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