Paul Chen
Report of Chinese Iron & Steel Industry under International Financial Crisis, 2009
In 2008, the ironstones bought by Chinese iron & steel enterprises in the previous time were at a high expense, however, the market demands were depressed, leading to the decline in Chinese steel price, no profits for steel enterprises and consecutive losses of the steel industry. According to statistics, the yields of Chinese crude steel in 2008 were 500.9 million tons, increased by 2.4% of last year and a sharp reduction in growth speed. The yields of Chinese steel products were 584.88 million tons, up 3.4% of last year.
Affected by several factors, the total demands for steel products cut down in the world. From 2008, reduction in domestic demands and surplus of the yield capacity, the exports of Chinese steel products were impeded.
In 2008, Chinese enterprises dropped in production and price of steel products sharply. The whole industry got losses. By the end of 2008, more than half of the enterprises showed a deficit.
In order to cope with international financial crisis, from January to February of 2009, Chinese government issued ten adjustment and revitalization plans of major industries, including automobile industry, iron & steel industry, shipbuilding industry, textile industry, equipment manufacture, electronics and information industry, light and chemical industry and non-ferrous metal industry etc. The ten adjustment and revitalization plans of major industries not only promoted the development of each industry, but also promoted the development whole national economies.
In January, 2009, Chinese government issued adjustment and revitalization plan of iron & steel industry, including the replacement of lagging yield capacity, structural adjustment of steel types, the expansion of domestic demands and the duty adjustment so as to increase the exports of iron& steel products and the encouragement of mergers and acquisitions among enterprises etc, which clearly showed the determination Chinese government to support iron& steel industry.
By the end of 2008, Chinese government issued four-trillion-Yuan investment plans in large-scaled infrastructure constructions. With the influence of the plan, it is predicted that the annual demands for iron & steel products are above 30 million tons. The demands for iron & steel products are increased as well as the profitability. There was still opportunity in the field of mergers and acquisition in Chinese iron& steel industry. On the one hand, the asset value of Chinese iron& steel industry was in the historical lowest level, which provided good external condition for the asset mergers and acquisition. On the other hand, Chinese government put more money on the mergers and acquisitions among iron& steel enterprises, including capital supports. Although Chinese iron& steel industry cannot keep the previous growth speed in 2009 to 2010, it is predicted that the development speed will be slow in a whole but not slowdown.
The analysts of our company made a profound investigation into Chinese iron & steel industry and the enterprises by interviews with the purposes of helping the international and domestic iron& steel enterprises to tide over and cope with the challenges of international financial crisis through discovering opportunities in Chinese market.
Here we are extremely grateful for the valuable references and suggestions from Dr. Paul. Pan research expert in Chinese iron & steel market, who made a research on the prices and trends of steel products and ironstones for eight years.
Readers can obtain more following information:
- Present Production Situation of Chinese Iron & Steel Industry
- Demands of Chinese Iron & Steel Industry
- Development of the Major Sub-sectors in Chinese Iron & Steel Industry
- Imports and Exports of Chinese Iron and Steel Industry & the Trends
- Favorable Factors for the Development of Chinese Iron & Steel Industry
- Unfavorable Factors for the Development of Chinese Iron & Steel Industry
- Prediction on the Yields of Chinese Iron & Steel, 2009-2012
-Influences of International Financial Crisis on Chinese Iron & Steel Industry
- Operations and Development Strategies of Chinese major Iron & Steel Enterprises under International Financial Crisis
- Prediction on the Prices of Chinese Iron & Steel and Ironstone
- Short, Medium and Long Term Influences of Adjustment and Revitalization Plans of Iron & Steel Industry on Chinese Iron & Steel Industry
-Subsistent Opportunities for Chinese Iron & Steel Industry under International Financial Crisis
If you are interested in this report, please visit Report of Chinese Iron & Steel Industry under International Financial Crisis, 2009
About the Author
Alice is an industry analyst in this field for more than 5 years with depth insight in the recent market trends. Based on the database, Interviews and research methods from China Research and Intelligence, she analyzes the development and opportunities in this industry clearly.
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Paul Chen Shinto Katana