Frequency of blowing the steel industry policy heater - steel, Baosteel, the steel market - steel industry

Frequency of blowing the steel industry policy heater - steel

, Baosteel, the steel market - steel industry

The global economy into recession, leading to sharp decline in the real economy. Iron and steel industry as a pillar industry, and is visible. The Baosteel recently announced price increases letting investors pick up the steel industry is full of expectations, while the follow-up on the Government introduced the policy of revitalizing the economy is expected than ever before, these factors will play a positive trend of the steel plate impetus. At present, many institutions steel stocks bullish short-term investment value, but the medium term, the agencies thought that the boom of the steel industry is not particularly optimistic.

Industry "winter" trigger impulse financing

Steel giant end of the year "storing food," busy

Yesterday by news of price hikes Baosteel impact of Baosteel, Wuhan Steel shares Anshan Steel shares and the three central giant iron and steel enterprise collective shares open higher and closed at their mouths with red plate. Steel plate index rose 0.48% yesterday, with the A-share market sharply lower, in sharp contrast.

With Dongbei Special Steel Group 500 million yuan corporate bond issue today, in just over a week period, including Angang Steel Company Limited, Valin Iron and Steel and other companies, including six large steel enterprises have opened the door to refinancing. Directional distribution, corporate bonds, short-term financing bonds a wide variety of financing behind, revealing the steel industry downturn enterprises under financial pressure. Angang Steel Company Limited referred to as: "the issuance of bonds to raise funds will be used to repay loans, debt restructuring, the development process to meet the company's long-term funding needs." In a recently held "the Fourth Forum on Bohai Bay Iron and Steel Market", the corporate finance and steel stocks also became nearly a thousand participants steel enterprises are most concerned issues.

Steel enterprises financing "hunger"

Experienced in the industry throughout 2007 and 2008, after the first half of the good times, since the second half by rising steel prices plummeted and stocks the dual pressures of operating steel prices plummeted. National Bureau of Statistics show a few days ago, in November China's steel output continued to fall. Pig iron, crude steel and rolled steel output was 33.516 million tons, 35.189 million tons and 42.301 million tons, down 16.2% year on year respectively, 12.4% and 11%. Crude steel production of which is to hit a 30-month low. 2008 Third Quarterly Bulletin revealed that 45 listed companies in the steel industry overall revenue, decreased 0.76%; total profits, decreased by 44.68%; net income, decreased by 42.04%. Projected rate of loss of steel enterprises will be amplified more in the fourth quarter.

Sales decline leading to high inventory directly take up the valuable steel liquidity of listed companies to make difficult business operation. Data show that 32 domestic steel companies debt rate from the first three quarters of the first half rose to 62.08 percent 61.37 percent. Short-term borrowing steel prices from January to September reached 412.318 billion yuan, up 35.14%, long-term loan 279.333 billion yuan, up 35.79 percent.

The face of the industry, "winter", various steel prices have started mass end of the year "to raise grain." In the past week, the Anshan Iron and Steel will be issued shares of the total amount raised not more than 10 billion yuan of corporate bonds; Handan Iron and Steel Group, the first issue of 2008, 3.0 billion of short-term financing bonds; Valin Iron & Steel Non-public offering of 600 million shares to raise cash 18.80 billion; TISCO Stainless the first issue of short-term financing of 2 billion yuan coupons. Recently a number of steel intensive enterprises financing only goal is to alleviate the high debt situation. As chairman of Shandong Iron and Steel Group said: "110 billion of credit in a considerable part of the liquidity for the company, and can not be used for project construction."

Earlier by Lange Iron and Steel Network's "The Fourth Forum on Bohai Bay Iron and Steel Market," attracted nearly a thousand steel companies around the country, focusing on the financial crisis in the context of the development of iron and steel situation and future development trend of the exchange and discussed. In the current iron and steel trade enterprises are generally facing greater pressure and financial pressure on the operating environment, how to expand into the battered financial pressure and operating pressure on the troubled capital of participants an important issue for iron and steel enterprises.

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