Steel Prices Rise Increase Costs Of Mining Machine
Recently, a number of domestic construction machinery enterprises to publish first-half results notice
. From the available data, part of the company's profitability is worrying, the operating conditions may suggest the profitability of the construction machinery enterprises.
The XCMG expected first half net profit of about $ 300,000 profit status; the Zoom lion expected first-half net profit rose 100%, but this data is a major shareholder of a number of quality assets in the company acquired last year basis; Sunward also lowered its earnings forecast. Moreover, these are invariably will affect the factors attributed to the steel prices.
The composition of the cost of construction machinery products, steel is the most important raw materials. The 2007 annual average price increase of the plate and hot-rolled plates were 24.65%, 8.83%. Since 2008, steel prices, which accelerated the upward trend, the end of May, the board, the average price of hot-rolled plates were up 28.1%, 24.20%, or of other commonly used plate varieties also have more than 2007 annual increase.
Such as medium-sized crane products, raw materials, steel, ten tons of steel prices will inevitably erode the profitability of the machinery industry. "One worked for a well-known engineering machinery enterprise staff, told reporters. In the case of relatively mild steel prices rising, engineering machinery enterprises through internal potential to improve labor productivity will be able to defuse the pressure of rising costs. However, this year, the construction machinery industry is facing is the situation of the steel price increases, which formed a greater challenge to the ability of the transfer of cost pressures.
"In general, the direct steel products accounted for 13-15% of the cost; purchased parts of the main raw material is steel, Overall, therefore, the greater proportion of the cost of steel; a rough estimate, the proportion of the cost of all steel products accounted for 30%Therefore, most of the construction machinery companies steel price sensitive to changes. "SW researcher Huli Mei said.
CITIC Securities researcher Guo Yaling As companies advance procurement of low-cost steel exhaust, a lot of construction machinery manufacturers cost pressures will be significantly increased, especially the concentration is low, competition is more intense, low value-added products and difficult to pass the cost of sub-industries or companies will face greater pressure.
Last year's statistics may be evidence of the impact of steel prices on the construction machinery industry. The data show that from January to August 2007, the construction machinery industry average gross profit margin rose from 14.69% to 20.5%, while in November last year, upward pressure on steel prices started to become apparent, this data down to 16.03%.
Therefore, the industry believes that, considering the factors of raw material inventory, fluctuations in steel prices this year on construction machinery enterprises is likely to go to the third quarter in order to more fully reflected.
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