The port iron ore of iron ore spot trading platform last week, zero reporting, and iron ore spot trading platform in the zero trading week for two consecutive weeks only transaction sum. By the domestic steel industry overcapacity, the continued downturn in steel demand and the multiple factors affecting the international iron ore prices high, resulting in China's steel industry had to conduct a thorough structural adjustment.
At the same time, the domestic steel market continued to decline to continue to expand. The basis varieties rebar is still down, hot-rolled low, cold-rolled spot market is still in the doldrums. Last weekend, the steel price composite index closed at 108.08, down 3.93, long products price index closed at 111.13, down 4.45 plate price index closed at 105.57, down 4.12.
Industry experts believe that the steel industry downturn from the elimination of backward production capacity, optimize product and technology transformation and upgrading, and enhance the international iron ore and the right to speak to start.
The decline in steel prices and crude steel production of small and medium-sized steel mills did not fall but rise, further exacerbating the pressure of overcapacity. Steel Association for Zhu said: "The first half of the non-member companies yield substantial growth of 12.9%, that is new this year, crude steel production from non-members of local SMEs."
According to industry veteran told reporters that the domestic non-member steel prices mainly in Hebei, Shandong, Jiangsu and other provinces, the overcapacity in the current case, the non-member companies of these regions still adhere to the "incremental production.
At the same time, the latest statistics show further decline in China's manufacturing purchasing managers index (PMI) in July from 50.4 in May and June, 50.2 to 50.1, procurement, import, purchase price, production and management staff, suppliers delivery time of attainment indicators are weaker than in June.
Decline in demand impact of imported commodities, iron ore, aluminum and other import prices fell significantly. According to customs statistics, 1-July, China's iron ore imports of 420 million tons, an increase of 9.1%, the average import price of $ 138.5 per tonne, a decrease of 15.2%. According to statistics, last week's decline in imports of iron ore spot market. The data show that last week, the port of imported ore spot market prices in the range of 5-20 yuan / ton. Among them, 63.5% Indian powder, PB powder, the Yandi powder, 63 percent of Pakistan rough and low-grade printed powder price from the previous week were down of 10,15,15,15,5 $ / ton.
In order to reverse the unfavorable situation of the steel industry, Zhu said the association is summarized the difficulties faced by the steel business and preparing recommendations to the authorities, through the proactive fiscal policy and structural tax reductions to ease the current difficulties, enterprise energy saving, for example, the elimination of backward to the imported products, mergers and acquisitions work to give financial support and tax incentives; and called to give the necessary tax relief policies on the domestic mining development, and exempt from the various funds and charges I hope to further reduce the cost of corporate finance.
Recently, Rio Tinto (Rio Tinto) that adhere to the $ 16 billion investment program this year to development projects and look forward to China's economic growth accelerated. Rio Tinto chief executive Tom Albanese (Tom Albanese), said the company expects China's economic stimulus measures will be put in place at the end of this year, 500 infrastructure projects will start next year, he added that the company's orders already full.
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