subject: 2008 Total Annual Production Capacity Of Steel Prices Changed Little But The Profit Drop - Steel, [print this page] New Year period, the steel mills have released their 2008 annual operating results of the report. According to these reports, although the global financial crisis in 2008 let the Chinese steel companies suffered, in September, October, November gradually discontinued limited production, but in 2008 the actual realization of China's iron and steel production capacity throughout the year but did not greatly affected.
Released under the operation of enterprises report, Wuhan Iron and Steel Group in 2008 produced 25.93 million tons of iron, steel 27.16 million tons, timber 26.3 million tons, respectively, an increase of 20%, 21% and 17%, production and sales have reached record levels. Wuhan Iron and Steel in 2008, the first time the annual sales income of 100 billion mark, reaching 120 billion yuan, profit 7.6 billion. 1.345 million tons while steel exports throughout the year, earning 1.2 billion U.S. dollars. Hebei Iron and Steel Group under
Tangshan Iron and Steel , 2008 is expected to produce 14.57 million tons of iron, 12.55 million tons of steel products were up 10.8% and 5.19%. To achieve the main business income in 2008 58 billion yuan, profits of 5.55 billion yuan, of which profit of 2.85 billion yuan.
Sand steel from January to November the completion of steel output 21.37 million tons, up 2.57%; sales revenue 133.6 billion yuan, profits of 14.5 billion yuan, up respectively 29.7% and 13.8%; estimated annual sales income and profits and taxes will be more than 1,400 billion and 15 billion yuan.
Days of iron production of 3.48 million tons of steel in 2008, up 53.98 percent; to achieve operating income of 500 billion yuan, up 60.25 percent.
Angang steel production 7.949 million tons in 2008, producing 7.043 million tons of steel. Sales revenue exceeded 51 billion yuan, 16.8 billion more than last year, 2.5 billion yuan in profits and taxes. Annual exports of 1,003,700 tons. It is the history of Anyang Iron and Steel sales revenue up, the biggest increase; variety of steel, wood species the highest yield, the largest share; the largest export product, import and export value of most of the year.
China Federation of Logistics and Purchasing latest data show that in 2007 the domestic steel production 560 million tons, accumulated 11 months of 2008 reached 531 million tons, 08 years ago, steel production accounts for 11 months in 2007 steel output 94.8 %. Despite the global financial crisis, China's iron and steel enterprises in the actual production capacity has not been greatly affected.
From the National Bureau of Statistics show that in 2007 China's apparent consumption of 514,228,900 tons of steel, closed in November 2008 while total to 488,655,500 tons. 11 months 08 years ago, apparent steel consumption accounted for 07 annual steel consumption of 95.1%. However, steel prices in 2008 cut-off date last year 12.26, the National average price of 4,553 yuan steel than the record high in mid-June fell 40%. At the same time, the state central rate 2008 profits fell 30 percent forecast, the steel industry in November appears monthly losses, losses amounted to 12.77 billion yuan. Among them, 48 loss-making enterprises, up 67.7% loss.
Hongyuan Securities believes that the State 4 trillion by 2009, investment-led demand for steel is about 065 million tons, apparent consumption of crude steel is expected to reach 485 million tons, and in 2008 the apparent consumption of 495 million tons of crude steel with ratio will fall 2% year on year.
Can be seen, and in 2007 compared to the actual domestic steel production in 2008 did not change much, the domestic steel market, consumption did not show significant attenuation, but a more substantial corporate profits decline. Demand changes in the market in 2009 and steel industries and enterprises to control their own production worthy.
