subject: Anshan Iron And Steel Prices Decline Led To Decreased Profits In The First Half Next Year, The [print this page] Northeastern Liaoning, one of the coldest winter in northern regions, ice cold trying to every corner of life.
And Angang?? New China's first steel company, has not stopped their fight for the honor footsteps. According to the latest media reports, after following the integration of Liaoning Benxi Steel Group, Anshan Iron and Steel is expected to win re-PZH opportunities. Once the successful integration, Anshan, Benxi Iron and Steel, Panzhihua Steel par three is expected to scale the overall strength further enhanced.
However, good news came, but also constantly heard the steel industry cut jobs and reduce salary information, and media reported that Anshan Iron and Steel blast furnace has been shut down three.
11 25, on the steel industry production cuts and a pay cut, reporters and secretaries to directorate to pay Kyrgyzstan Angang Steel Company Limited will carry out a dialogue. Anshan Iron and steel prices fell
profit decline caused Reporter: by macroeconomic impact, the steel market downturn, international and some domestic steel enterprises have cut production, please tell us about the current situation of Anshan.
Fu Ji will be: Anshan problems with the industry's situation is the same, the key contradiction is that relatively large decline in steel prices, demand is relatively weak. Angang now can do is adjust the product structure, adapt to market changes in rhythm. Market demand for more production and more marketable products, sales less production or does not produce good, low price products. At the same time, reduce costs, reducing spending.
Reporter: Angang how much the current rate cut?
Fu Ji will be: Through the adjustment of product structure, production inspection arrangements, which play the role of cut. However, the magnitude is small, the specific cut size has not, can not say.
Reporter: industry average 20% yield reduction, Anshan so high?
Fu Ji will be: Anshan Iron and Steel certainly is not so much yield reduction is quite small. But there is one thing, steel market prices and profits decline is a fact.
Reporter: Before October, there were media reports Angang has closed three blast furnaces, and have lower wages intention, is it?
Fu Ji will be: there is no such thing, Anshan Iron and it has not shut off furnace. Meanwhile, the Anshan Iron and Steel did not intend to reduce the wages of workers, however, because wages are linked with the effective part of, so if the benefit is not good, wages will certainly be affected.
Now weak steel demand Reporter: closing the third quarter of 2008, Anshan Iron and extract a greater amount of stock decline in value, while Angang's inventory turnover rate is 4.1%, compared with the previous year must fall, is this the second half of the market demand for steel decline has a lot?
Fu Ji will be: mainly two reasons, on the one hand, in the first half the price of steel has gone up a lot of raw materials, in accordance with the requirements of the new accounting standards, companies must be prepared to resist extraction of inventory to market price risk, it produced more decline in value; the other hand, weak demand made of steel steel inventory turns decreased, resulting in comparison with previous years, turnover decreased.
Reporter: Do you think that this round of iron and steel market downturn, steel prices down what causes it?
Fu Ji will be: iron and steel industries, the impact of the economy or a great side, so I think the economic fundamentals are currently running mainly poor, leading to weak demand for steel.
Mittal Steel is not China Reporter: iron and steel industry association with a high degree of many other industries, some people believe that, since late last year, real estate market downturn great impact on the steel industry, how do you see this problem?
Fu Ji will be: iron and steel is the basis for many industries, industry to steel as the key link Well.
