Bank: "snatches anti-theft anti-steel trade
July 13, 2012, National Bureau of Statistics, China's GDP grew 7.8 percent in the first half of this year, second quarter growth of 7.6%. This is three years of quarterly GDP growth fell below 8% for the first time.
The decline in economic growth, bear the brunt of steel prices. By the steel industry climate index report, the 2012 first quarter iron and steel, nonferrous metals, equipment manufacturing, home appliances, clothing and other five industries downstream to cool light blue light zone ", where the steel industry is fast approaching too cold blue light zone. "
Vane as the price of domestic steel enterprises, the Shanghai Baoshan Iron & Steel Co., Ltd. in July and August for two consecutive months, lower product prices. In high yield, high inventories, low demand, low prices, "two high and two low squeezed the steel industry has become the hardest hit of the performance loss in the first half of this year. According to display Flush iFinD statistics, as of July 18, 34 ferrous metal industry companies, accumulated more than 20 companies released the interim results notice, only Baoshan Iron & Steel, special materials, long established, Panzhihua Steel Vanadium Titanium year on year performance pre-growing the remaining 17 steel enterprises are reporting only bad news.
Results of first-line steel companies cold case will naturally transfer to the steel trade. LIU Guo-ming in the steel trade for many years, he said, now part of bank lending departments to talk about the mere mention of "steel", many of the commercial banks' internal flow "snatches anti-theft anti-steel trade" argument.
The end of April this year, the CBRC issued a notice requiring the banking financial institutions in a timely manner to adjust the direction and policies of the steel trade and industry credit. At the same time, the major commercial banks in order to prevent and control risks in the risk horizon when the steel trade, steel trading business, the implementation of the emergency closing loan policy. According to preliminary statistics of the Shanghai Iron and Steel Services Association, from the beginning of the year so far, the scale of financing contracted by more than 25 percent, especially since the first quarter of this year, the bank credit structure adjustment on the grounds, improve corporate lending credit threshold, the current steel trade 10 years establish the integrity of the HSP system has been badly hit, steel trade enterprise liquidity unprecedented difficulties.
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