Affected by iron alloy charges stayed reduced, and foreign iron alloy businesses over the days it appears that the more sore – earnings proceeded to down turn, more and more losses.

“My steel and steel,” the current statistics present that over the past week, in the household hard metal costs carried on to movement down, this is the tenth following week of descent steel. Plate costs carried on to descent, has been constricted, the largest charge lessening in tons of 100 yuan or less; sultry and chilled turned over to some extent worse costs, the Shanghai market wide hot-rolled wares specifications tons throughout 3080 yuan charge stage consolidation; large tons of material costs in the charge decline of 20 yuan.

And the trend of steel prices continued to fall in line, the profitability of domestic steel companies are also drastically reduced.

The night time of April 19, China’s Wuhan Iron and Steel Company allocations of greatest hard metal goods produced in 2008 Annual Report liberated in 2009 and the quarter stated by the provision for descent in worth of large stores, as well as training for the extensive diminish in hard metal demand for the consequence of the year in 2008, as well as the recital of the first quarter of this year, there descent – 2008 running wages was realised 73.339 billion yuan, up 35.41 out of 100 expansion, but descent as a effect of provision of store geared up to 1.645 billion yuan, linked to shareholders of registered financial gatherings mesh yield of 5.189 billion yuan, up 20 out of 100 decline. Worse still, the realization of the first quarter 2009 running wages 10.913 billion yuan, up 30 out of 100 decline in mesh yield 263 million yuan, up 87.17 out of 100 year-on-year decline. Wuhan Steel allocations pessimistically declare that this year is still confident about the complete circumstances, the first half of the recital of the matching interval last year will be down more than 50%.

Prior to this, steel and hard metal enterprises in China Baoshan Iron & Steel advertised in 2008 the total yield was 86.7 billion yuan, up 55.1 out of 100 descent, down more than WISCO.

The worsening in iron alloy market is not only the influence of metal and iron alloy enterprises in China, the worldwide iron alloy monster is furthermore “very injured.”

April 20, Japan’s greatest hard metal financial gatherings Nippon Steel Corporation said that its fiscal 2008 standard yield over the earlier fiscal year is looked frontwards to to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its prediction in January when the 400 billion yen.

Nippon Steel said that the automotive and electric-powered businesses as a effect of greatest customers to extend goods produced of its hard metal end wares carried on to decline. First quarter of this year plunged to the goods produced arrange the company’s past files since the start of the least purpose, only five million tons. Actual goods produced may be inferior, even less than the arrange for more than 300,000 tons.

Earlier in the day, another big South Korean Pohang Iron and Steel Rail said that as of March 31, its last year’s net income fell 68 percent, which is the company since the first quarter of 2001, the largest decline since.

“China’s steel city of the second quarter of difficult to bottom out.” To the flow of iron and steel analyst Productivity Center Rongliang He said that the Chinese steel market after the end of the beginning of the year short-term rebound, prices fell sharply again. At present, the market demand, shrinking exports, while steel production also did not achieve the desired objectives, the overall downturn in steel market. In the global economy is expected to continue downward, the excess iron and steel production under the pressure of the second quarter of the domestic steel market has bottomed out, prices rebounded sharply difficult.

China Steel Association latest statistics show that 3 at the end of the domestic composite steel price index to 97.59 points, fell 44.72 points, 31.42 percent decline. China Steel Association in the preparation of the price index in April 1994 of the composite steel price for 100 points, it is apparent that the integrated steel prices have now less than 15 years ago.

“China’s surplus iron alloy capability considerably, the market provide force, more significantly, altered the tendency of the international finances down.” However, Rongliang He said that iron alloy charges have dropped harshly, and charges have fallen to the reduced charges the last cited space small. Steel charges in May in the general enterprise natural environment will be advanced, will go in a somewhat steady time period.