Baoshan Iron and Steel Co., Ltd. introduced the September price policy on August 13th, down by 100 yuan for hot rolling, 150 yuan for Pulao, 180 yuan for pickling, 80-180 yuan for galvanizing, and 130 yuan for galvanized steel, and no-oriented silicon steel. constant.
Wuhan Iron and Steel Co., Ltd. announced its September price policy on August 14th, with HRC reduced by 200 yuan, cold rolled down by 200 yuan, plate lowered by 200 yuan, hot-dip galvanized by 100 yuan, tin-plated by 200 yuan, and color-coated by 200 yuan. Non-oriented silicon steel, oriented silicon steel, and electro-galvanized steel remain unchanged.
Angang Steel Co., Ltd. launched its September price policy on August 20, with HRC reduced by 250 yuan, cold roll down by 150 yuan, cold hard down by 250 yuan, plate down by 100 yuan, hot-dip galvanized down by 100 yuan, and color coating by 150-200. Yuan, pickling down 250 yuan, non-oriented silicon steel down 150-500 yuan, 320 yuan down the wire.
Both Baosteel and Wuhan Iron and Steel have adjusted their prices and directions in line with expectations. Anshan Iron & Steel's price adjustment has slightly exceeded expectations. Baosteel's price reduction this month has slowed down since last month. The hot rolling price has been reduced by RMB 200/ton from the previous month to RMB 100/ton, and the average cold temperature and pickling rate has been reduced by RMB 150 to RMB 180/mm. Ton, other varieties are slightly down; WISCO has an increasing trend compared with last month's price reduction, with the exception of electrical steel, other major varieties than the previous month to expand the 50-100 yuan / ton decline; Anshan Iron and Steel decreased slightly more than expected, including hot rolling The downward adjustment of 250 yuan/ton has continued to expand, cold rolling, hot-dip galvanizing, and color coating have been reduced to 100-150 yuan/ton, and the plate has dropped by 100 yuan/ton.
The downturn in downstream demand and the continuous breakdown in cost support are the main reasons why the three major steel mills continue to lower their prices this year. The three major steel mills have consistently issued downward price adjustment policies since the second quarter of 2012. Among them, Baosteel has lowered the order price for three consecutive months, and Wuhan Iron and Steel and Angang have lowered their order prices for four consecutive months. The cumulative declines in the main varieties in the past four months have been respectively. Up to 100-700 yuan / ton and 150-600 yuan / ton; this is mainly due to the poor demand caused by the downstream orders since the second quarter caused by the adverse effects of order organization; at the same time, the original as "cost support" of iron ore and coking coal prices in the steel industry As the profitability deteriorated, the price of Chinese iron ore fell by RMB 200/t in the past four months, and the price of main coking coal decreased by RMB 170/t. Continuously low raw material prices kept steel prices at a downward trend.
The difference between the ex-factory price and the market price is higher than the historical average, and there is still room for price reduction. According to calculations, the average price spread between Baosteel's hot and cold rolled steel and the market during 2010-2011 was 1,172 yuan, 879 yuan per ton, that of Wuhan Iron and Steel was 1,453,707 yuan per ton, and that of Anshan Iron and Steel was 27,35 yuan per ton. Currently, Baosteel's, Wuhan Iron and Steel's and Anshan Iron & Steel's ex-factory prices are in contrast to market price spreads. The vast majority of varieties are still above the historical average of two years and are in an upside-down state.
Maintain the industry "neutral" rating and carefully configure the steel sector. In early August, the industry gross profit touched the production stoppage point, and steel companies began to reduce production, but the effect of reducing production remains to be seen. The market is generally looking forward to the “Jin 9 Silver 10†price market, but the current funding is tight, the downstream demand is weak, and the industry fundamentals are difficult to have substantial short-term As a result, the industry maintains a “neutral†rating. It is recommended to carefully configure the steel sector, focus on low-risk and low-risk varieties, and devaluate Baosteel.
Wuhan Iron and Steel Co., Ltd. announced its September price policy on August 14th, with HRC reduced by 200 yuan, cold rolled down by 200 yuan, plate lowered by 200 yuan, hot-dip galvanized by 100 yuan, tin-plated by 200 yuan, and color-coated by 200 yuan. Non-oriented silicon steel, oriented silicon steel, and electro-galvanized steel remain unchanged.
Angang Steel Co., Ltd. launched its September price policy on August 20, with HRC reduced by 250 yuan, cold roll down by 150 yuan, cold hard down by 250 yuan, plate down by 100 yuan, hot-dip galvanized down by 100 yuan, and color coating by 150-200. Yuan, pickling down 250 yuan, non-oriented silicon steel down 150-500 yuan, 320 yuan down the wire.
Both Baosteel and Wuhan Iron and Steel have adjusted their prices and directions in line with expectations. Anshan Iron & Steel's price adjustment has slightly exceeded expectations. Baosteel's price reduction this month has slowed down since last month. The hot rolling price has been reduced by RMB 200/ton from the previous month to RMB 100/ton, and the average cold temperature and pickling rate has been reduced by RMB 150 to RMB 180/mm. Ton, other varieties are slightly down; WISCO has an increasing trend compared with last month's price reduction, with the exception of electrical steel, other major varieties than the previous month to expand the 50-100 yuan / ton decline; Anshan Iron and Steel decreased slightly more than expected, including hot rolling The downward adjustment of 250 yuan/ton has continued to expand, cold rolling, hot-dip galvanizing, and color coating have been reduced to 100-150 yuan/ton, and the plate has dropped by 100 yuan/ton.
The downturn in downstream demand and the continuous breakdown in cost support are the main reasons why the three major steel mills continue to lower their prices this year. The three major steel mills have consistently issued downward price adjustment policies since the second quarter of 2012. Among them, Baosteel has lowered the order price for three consecutive months, and Wuhan Iron and Steel and Angang have lowered their order prices for four consecutive months. The cumulative declines in the main varieties in the past four months have been respectively. Up to 100-700 yuan / ton and 150-600 yuan / ton; this is mainly due to the poor demand caused by the downstream orders since the second quarter caused by the adverse effects of order organization; at the same time, the original as "cost support" of iron ore and coking coal prices in the steel industry As the profitability deteriorated, the price of Chinese iron ore fell by RMB 200/t in the past four months, and the price of main coking coal decreased by RMB 170/t. Continuously low raw material prices kept steel prices at a downward trend.
The difference between the ex-factory price and the market price is higher than the historical average, and there is still room for price reduction. According to calculations, the average price spread between Baosteel's hot and cold rolled steel and the market during 2010-2011 was 1,172 yuan, 879 yuan per ton, that of Wuhan Iron and Steel was 1,453,707 yuan per ton, and that of Anshan Iron and Steel was 27,35 yuan per ton. Currently, Baosteel's, Wuhan Iron and Steel's and Anshan Iron & Steel's ex-factory prices are in contrast to market price spreads. The vast majority of varieties are still above the historical average of two years and are in an upside-down state.
Maintain the industry "neutral" rating and carefully configure the steel sector. In early August, the industry gross profit touched the production stoppage point, and steel companies began to reduce production, but the effect of reducing production remains to be seen. The market is generally looking forward to the “Jin 9 Silver 10†price market, but the current funding is tight, the downstream demand is weak, and the industry fundamentals are difficult to have substantial short-term As a result, the industry maintains a “neutral†rating. It is recommended to carefully configure the steel sector, focus on low-risk and low-risk varieties, and devaluate Baosteel.
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