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China Steel News: February 27th Steel Information Briefing

China Steel News: February 27th Steel Information Briefing

  • Categories:Industry News
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  • Time of issue:2021-04-01
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(Summary description)The daily output of crude steel fell for 30 consecutive days and hit a new low in nearly a year

China Steel News: February 27th Steel Information Briefing

(Summary description)The daily output of crude steel fell for 30 consecutive days and hit a new low in nearly a year

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2021-04-01
  • Views:0

1. The daily output of crude steel fell for 30 consecutive days and hit a new low in nearly a year

According to the latest data released by the China Iron and Steel Association, the daily crude steel output of key steel companies in early February fell by 3.57% month-on-month to 1.628 million tons, which has dropped for thirty consecutive days and hit a new low for nearly a year.

Relevant data shows that from January 4 to February 26, the average domestic steel spot price index fell from 2,840 yuan/ton to 2,530 yuan/ton, a cumulative decrease of 10.9%. (Great Wisdom Asdaq News Agency)

2. China-Korea Free Trade Zone has completed negotiations, a variety of steel products are expected to achieve trade liberalization

On February 25th, China and South Korea initialed the Free Trade Agreement (FTA) and disclosed the contents of the agreement involving tariff concessions. The two countries agreed to formally sign the agreement in the first half of this year. Among all the free trade agreements signed between South Korea and other countries, the China-South Korea FTA has the largest number of tariff preferences. Among them, in the field of iron and steel, the trade liberalization of products such as cold coils, medium and heavy plates and stainless steel hot-rolled steel plates will be realized. (Nishimoto Shinkansen website)

3. Shagang Rhapsody, the steel boss intends to run away from steel?

On the first day of the New Year, Shagang announced that Shagang Group transferred 55.12% of its shares to 9 natural persons. After Shagang Group reduced its shareholding, Shen Wenrong's actual control rights have not changed, but his absolute control rights have changed.

According to media analysis, although Shagang performed well in 2014, its profitability growth is still worrying. Therefore, Shen Wenrong's intention to withdraw from the steel industry cannot be ruled out. (China Economic Information Network)

4. The output of "the world's largest steel province" fell for the first time in 14 years

In 2014, Hebei Province produced 185 million tons of crude steel, a decrease of 0.60% year-on-year. This slight change has attracted much attention due to its first decline in 14 years.

The State Council requires that by the end of 2017, the country's steel production capacity should be reduced by 80 million tons, of which 60 million tons will fall in Hebei, which is equivalent to the crude steel output of Germany and France in 2014. Hebei, especially Qian'an, Wu'an, Fengnan and other counties and cities with "one steel dominates", felt the heavy pressure of the coming of winter. (Xinhua News Agency)

5. ArcelorMittal's operating profit surged last year but still suffered a loss

In 2014, the world’s number one steel mill ArcelorMittal’s sales revenue was US$79.282 billion, a decrease of 0.2% year-on-year, EBITDA was US$7.237 billion, an increase of 5.1%, and operating profit was US$3.034 billion, an increase of 153.5%, but it suffered a loss for the year. 1.08 billion U.S. dollars, losses for 3 consecutive years. (China United Steel Network)

6. Iron ore giant Vale’s fourth-quarter revenue fell 30.4% year-on-year

Iron ore giant Vale announced on Thursday that it lost 5 cents per share in the fourth quarter. This figure is 24 cents lower than market expectations. Revenue for the quarter was US$9.23 billion, a sharp drop of 30.4% year-on-year, but it was US$190 million higher than expected. (Netease Finance)

7. Panzhihua Iron and Steel Co., Ltd., the largest section of heavy rail steel production line in my country, went into operation smoothly

It is reported that the heavy rail steel billets cast for the first time after the transformation of the No. 2 billet continuous caster in the Panzhihua Vanadium Steelmaking Plant are of good quality. This marks that Panzhihua Iron and Steel has built a heavy rail steel casting production line with the largest section in my country, laying a foundation for increasing the output of heavy rail products and the development of new varieties. (China Iron and Steel News Net-Pangang Daily)

8. POSCO Engineering Construction Actively Promotes Latin American Business

POSCO E&C, a subsidiary of South Korean steel company POSCO E&C, plans to further expand its business in Latin America and has high hopes for the region's economic development potential. An executive of POSCO E&C revealed that it had previously completed the diversified expansion of its overseas business. Competitors have focused their attention on the Middle East, while POSCO E&C has decided to make a breakthrough in the Latin American market. (China Steel News Network)

9. Nanjing City's use of 10 years to rectify and shut down heavy industrial enterprises, steel and other projects shall not be approved

The executive meeting of the Nanjing Municipal Government was held on the 25th. The city issued relevant decisions last year to realize the withdrawal of all heavy industry enterprises in 10 years, and complete the relocation and shutdown of Nangang, Meishan Iron and Steel (including Meishan Iron Mine and related enterprises), and other key enterprises. This year, Nanjing will continue to vigorously promote the prevention and control of industrial pollution, and the city-wide approval, approval, and filing of steel and other projects will not be allowed. (Xinhua Daily)


10. The Bureau of Statistics released the 2014 Statistical Bulletin, and the economic growth rate shifted without losing momentum

The National Bureau of Statistics recently released the 2014 National Economic and Social Development Statistical Bulletin. According to preliminary calculations, the annual gross domestic product was 6,36463 trillion yuan, an increase of 4.4% over the previous year.

From the perspective of fiscal revenue, the national general public service fiscal revenue for the whole year was 14,035 billion yuan, an increase of 1,114 billion yuan over the previous year, an increase of 8.6%, and tax revenue also reached 1195.8 billion yuan, an increase of 862.7 billion yuan. Yuan, up 7.8%.

Xie Hongguang, deputy director of the National Bureau of Statistics, said that it should be the new normal that gave birth to new impetus, and new progress gave birth to new hope. This data shows that the economy has entered the new normal and shifted gears but did not lose momentum in the past year. (Central Broadcasting Network)

11. The Ministry of Finance issued a notice to promote the revitalization of local fiscal stock funds

A few days ago, the Ministry of Finance issued a notice on the promotion of local fiscal stock funds.

The notice pointed out that financial departments at all levels should aim at stabilizing growth, promoting reforms, adjusting structure, and benefiting people’s livelihoods, and appropriate funds used for their original purposes as soon as possible to put them into use; for funds that do not need to be used for their original purposes, recover the main overall plan. It is used in key areas such as shantytown renovation, urban infrastructure, railway and highway construction, and major water conservancy projects to improve the efficiency of the use of financial funds. (Website of the Ministry of Finance)

12. The State Administration of Taxation: This year will promote real estate tax and other related tax legislation

On the 26th, the State Administration of Taxation issued the "Guiding Opinions on Comprehensively Promoting Tax Administration by Law." Jin Wanjun, deputy director of the Department of Policy and Regulation of the State Administration of Taxation, said that this year will improve the quality of taxation system construction, including actively promoting real estate tax, environmental protection tax and other related tax legislation, insisting on the unification and cohesion of reform and legislative decisions; speeding up the standardization of tax policy work Construction, implement the requirements of the rule of law in the establishment, reform, abolition and interpretation of taxation policies; broaden the scope and content of the legality review of tax normative documents; and participate in the formulation of international tax rules. (Capital Securities Network)

13. Global renminbi reserves may increase by US$500 billion in the next five years

On February 26, UBS (UBS) stated that more than 60 central banks hold renminbi in currency reserves, and the renminbi held by global central banks and sovereign wealth funds is expected to increase by US$500 billion in the next five years. According to UBS current data, the renminbi accounts for about 0.1% to 0.3% of global reserves, and this proportion should rise to 2% in the next five years.

"The dominance of the US dollar is difficult to be shaken in the short term, and it may gradually be replaced by a multi-currency system. The US dollar will not be able to dominate in the future, and the renminbi is likely to become one of the global reserve currencies around 2025." Related experts said. (China Business News Daily)

14. The construction of the coking industry chain is imminent

The China Coking Association recently announced the 2014 industry operation report. The report shows that from January to November 2014, the profits of industrial enterprises above designated size in my country's coking industry had a cumulative loss of 3.7 billion yuan; the total losses of 321 loss-making enterprises amounted to 16.2 billion yuan, and the industry's loss was as high as 49%.

In this regard, Cui Pijiang, President of the China Coking Industry Association, pointed out that “now is the best time to integrate and build an efficient industrial chain.” (Economic Daily)

15. The equipment manufacturing industry accounts for over 30%, and the economy is moving towards mid-to-high end

The National Bureau of Statistics further disclosed that the added value of high-tech manufacturing increased by 12.3% over the previous year, accounting for 10.6% of the added value of industrial enterprises above designated size. The added value of the equipment manufacturing industry increased by 10.5%, accounting for 30.4% of the added value of the industrial enterprises above designated size.

Xie Hongguang, deputy director of the National Bureau of Statistics, said that the economic structure and growth momentum are undergoing profound changes. The rapid development of high-end manufacturing and modern service industries shows that my country's economy is in the process of evolving to the mid-to-high end, and this process will continue. (China Business News Daily)

16. Yue Fubin: Coal-to-liquid is an important direction for clean coal utilization

Recently, the National Energy Administration, the Ministry of Environmental Protection, and the Ministry of Industry and Information Technology jointly issued opinions on promoting safe, green development and clean and efficient use of coal, proposing to actively promote the transformation of coal development mode and improve the level of comprehensive development and utilization of coal resources. Regarding how to make clean and efficient use of coal, Yue Fubin, dean of the China Coal Economic Research Institute of Central University of Finance and Economics, believes that coal-to-liquid is an important direction for clean coal utilization. He believes that my country is a coal-rich country, and the development of coal-to-liquid is epoch-making in my country and is of great strategic significance. (China News Network)

17. China Banking Regulatory Commission: total liabilities of financial institutions increased by 13.4% year-on-year at the end of January

On February 26, the China Banking Regulatory Commission announced the January asset data of banking financial institutions.

Data show that the total domestic assets of China's banking financial institutions at the end of January was 169.7 trillion yuan, an increase of 13.9% year-on-year. At the end of January, China's banking financial institutions had a total domestic debt of 157.2 trillion yuan, a year-on-year increase of 13.4%. The growth rate has increased compared with December of the previous year. (China Securities Net)

18. The central bank releases another 38 billion yuan of water, continuous drip irrigation is difficult to quench thirst

Yesterday, the central bank conducted a 14-day reverse repurchase operation of 38 billion yuan in the open market, and the winning interest rate continued to be flat at 4.10%.

"The central bank's continued reverse repurchase operations after the Spring Festival show its attitude towards maintaining market stability. It also means that drip irrigation will continue to be an important channel for the central bank to supplement market liquidity." A person in the industry said, but judging from the current situation, it only depends on it. Drip irrigation may not be able to overcome the thirst of the real economy, and the fight against deflation will also require a big move to cut interest rates. (Securities Daily)

19. In 2014, the national raw coal production was 3.87 billion tons

Data from the 2014 National Economic and Social Development Statistical Bulletin recently released by the National Bureau of Statistics shows that my country's raw coal production in 2014 was 3.87 billion tons.

The communiqué indicated that the raw coal production in 2014 fell 2.5% from the same period last year, the first decline since the Bureau of Statistics released the annual report data. (China Coal Resources Net)

20. International oil prices plummeted by 5.53% on Thursday, the lowest in a month

Affected by the rise of the US dollar and investor profit-taking, international oil prices fell on the 26th.

The exchange rate of the U.S. dollar against other major currencies rose across the board that day, reducing the investment attractiveness of U.S. dollar-denominated oil and putting pressure on oil prices.

As of the close of the day, the price of light crude oil futures for April delivery on the New York Mercantile Exchange fell 2.82 US dollars to close at 48.17 US dollars per barrel, a decrease of 5.53% (the lowest closing since the end of January for the main contract) price).


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