China steel mills slipped back into losses in the first quarter, the Association said.
FORBES: China's Steel Demand Seen Softening, Industry Group Says
China steel companies are still in the red on the year as of November.
We like China Steel not just because it will be an important component of the MSCI index.
China Steel also has new capacity coming on stream later this year with output rising up to 40%.
She recently roped in Marubeni, China Steel and Posco as strategic partners taking up 30% of the multibillion-dollar project.
As of mid-2000 the government had sold off more than 50% of its shares of 23 companies, including China Steel and Chiao Tung Bank.
Fact: So far this year, the U.S. Department of Commerce has imposed countervailing or anti-dumping duties on a variety of China steel products.
FORBES: The Curious Case Of Anshan Steel And The Space-Age Rebar Technology
"There are two big players in Asia outside Japan -- POSCO and China Steel of Taiwan -- that enjoy economies of scale because they have huge capacity, " he says.
During October, China's steel output rose by 25%, while production of goods such as dishwashers also surged.
Of the 80 companies polled by the China Iron and Steel Association (CISA), 44 posted losses in August.
China's steel production rose 15% year on year in November after flat-lining in the first half of the year.
As a result, the growth in China's steel consumption has moderated considerably.
As Janet Zhang of GaveKal Dragonomics points out, China's steel exports in May were 89% higher than their average over the previous four months.
China's steel-industry body says its production grew by 23% in 2004.
But even if the figure is too high by a factor of 10, the gain to China's steel industry would outweigh the projected costs to its airlines.
This year, the China Iron and Steel Association was outspoken in its desire to see prices fall sharply, which throughout the spring seemed likely as demand wavered and spot prices sank.
Statistics from the China Iron and Steel Association showed that the biggest steel firms there have returned to profitability, but oversupply and a string of unprofitable months have made it a tough year for the industry.
World Steel Dynamics, a consultancy, reckons that the cost of building steel plants in China may be up to 60% lower than most other big steel-producing countries.
Peter Marcus, a steel-industry veteran and managing partner of World Steel Dynamics in New York, says that by 2010 China will have capacity for steel products some 63m tonnes ahead of forecast domestic demand.
Messer is already in four industrial regions of China, serving mainly steel complexes, and is now eyeing inland provinces.
One reason for the rising consumption of steel in China has been the insatiable demand for cars.
It supplies to China and demand for steel there is still strong.
In fact, just recently, steel workers in Ohio and throughout the Midwest, Pennsylvania, are in a position now to sell steel to China because we won that case.
I'm the director of Cato's Herbert A. Stiefel Center for Trade Policy Studies, focusing on WTO disputes, regional trade agreements, U.S.-China trade issues, steel and textile trade policies, and antidumping reform.
FORBES: Soured U.S.-China Relationship Approaches Inflection Point
Now China is seen as an opportunity, largely because the things that China needs steel, capital equipment, construction machinery and so on are, as it happens, just the sort of stuff that Japanese companies are good at making.
China's iron and steel industry association clamored Tuesday for a 40% cut in iron ore prices.
But by far the biggest factor in the resurrection of the steel industry is China.
It'll mean making deep changes to old industries like Wuhan Iron and Steel, reforming China's giant state-owned enterprises.
So we have another thing to think about, how much steel scrap is China going to generate internally?
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