Jul. 2, 2008 Overview of the steel industry – iron and steel investment, the price of steel – steel industry
12 energy saving this year, mainly under the clear-out 9 lagging production capacity: the morning of July 1, Premier, State Council Leading Group, energy conservation, energy conservation, Wen Jiabao chaired the leadership group meeting, to listen to energy saving by 2007 row of the progress report on arrangements for the 2008 energy conservation and emission reduction. The meeting, in 2007, all localities and departments to seriously implement the Party Central Committee and State Council's plan, the energy saving as the adjustment of economic structure, change the mode of development and an important starting point for a breakthrough in energy conservation to achieve positive progress. But the situation remained dire, prominent in the economic fast growth rate, particularly high energy consumption, high emission industry growth is still too fast, the proportion of GDP, value added services, high-tech manufacturing value added decreased the proportion of total industrial value added , Heavy industrial structure has not changed the pattern. Energy reduction targets to achieve five years, the task is arduous. The new export orders index in June near the critical point of balance between flexibility austerity targeted: July 1, China Federation of Logistics and Purchasing released the latest edition of the manufacturing purchasing managers index (PMI), which, in June experienced new export orders index fell for 3 months, 50.2 at the critical point this month, the edge (usually PMI index above 50, reflecting the overall economic expansion, or reflect the economic recession). June's new export orders index seems to indicate that future exports is not optimistic. June purchasing managers index for manufacturing in China 52, has been dropped for two consecutive months to reach the lowest point of the past two years. As the manufacturing sector accounted for the largest share of industrial economy, this means that future economic growth is uncertain.
Department of Commerce: short-term upside limited domestic steel: Ministry of Commerce to monitor showed last week (June 23 to 29) the average price of domestic steel market was flat with the previous week, some species were mixed. Despite the recent jump in ore prices, but the arrival of resources because the cost of the market has been very high, traders purchase pressures, is expected to rise in steel prices soon space is limited. Association of Coke: coke export tariff adjustments triggered a rebound fear: China Coking Industry Association said recently the gold dry, coke export increment has gained momentum, and this will raise export tariffs on a new round. Coking Industry Association of Hebei fourth session held in the Council, the gold dried, said in 2008 China's crude steel capacity will increase tons in 4000-5000 to continue to maintain a high growth, stimulating demand for Coke to continue to show rapid growth . Meanwhile, China's coke exports showed continued growth overall 1-May exports of 960,000 tons, respectively, 73 million tons, 1.244 million tons, 134 million and 1.66 million tons. BHP Billiton deadline passed without any agreement on a steel prices: "June 30th" deadline has passed, still not BHP Billiton and steel enterprises in any long-term price agreements reached in 2008, a number of contracts with Chinese steel mills there are "two sides have the right to cancel" possible. In this regard, close to BHP Billiton's analysts said yesterday, although BHP Billiton does not immediately agree to Baosteel and Rio Tinto agreed price, it is expected that BHP Billiton will eventually be accepted Iron ore price Price level increased to the same views, as BHP Billiton also reluctant to turn the spot market iron ore sales, and the implementation of BHP Billiton's pricing method based on temporary price index also can not run. Furthermore, as Baosteel and CVRD, Rio Tinto higher than in Brazil reached a long-term agreement price increase, the traditional pricing mechanism has been broken in fact. Chinese negotiators, Japan and South Korea into the Asian benchmark were to accept Rio Tinto rose: Yesterday, the long-running Rio Tinto Iron ore talks Finally over, the world's third-largest mining company Rio Tinto announced that it has reached an agreement with all the Asian steel customers, will raise iron ore contract prices up 96.5%, and the earlier agreement reached with the Chinese steel mills in line. Japan's Nippon Steel, JFE Steel and other large steel manufacturers in Japan and South Korea POSCO and other major Asian steel prices with Rio Tinto iron ore price agreement reached in 2008, receiving lump ore prices rose 96.5%, powder ore prices up 79.88 percent. Cite the EU anti-dumping exports of seamless steel tubes were cold stick: The EU will launch China's exports of seamless steel anti-dumping investigation, which is following the United States on China's two types of steel anti-dumping and countervailing duty investigations, the Chinese steel industry in the foreign trade once again attacked. It is understood, the European Commission has issued a note, said it has received applications for the EU industry, will soon lose my EU anti-dumping investigations initiated by the seamless steel tubes.
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