Steel Producers of China are full of rainbow hopes

According to Bloomberg analytical agency published today, the Chinese economy will grow by the end of this year by 7.7%. In addition, only growth will be observed in the future. China’s metallurgical industry is waiting for significant positive changes in the domestic market in the fourth quarter of 2012. This became known from the recently forecast of the Association of Ruda and became China (China Iron and Steel Association, Cisa).

According to the results of the third quarter, the majority of the station wiring plants in China worked out with losses, the total amount of which in the industry amounted to $ 883 million, against $ 6 billion in the third quarter of 2011. However, according to the Vice of the President of Cisa Lu Zhenchan, in the fourth quarter of Chinese metallurgists there will be stabilization of demand, permanently falling throughout the third quarter. Also, the prices of metallurgical production will also have a positive increase in the prices for alloys and raw metals (slabs and ingots).

Lou Zhenchan emphasized that the state must continue to restrain the growth of production metallurgical capacities and maintain strict control over all Chinese production as a whole. According to the Vice of the President of CISA this year was the hardest for Chinese metallurgists after the failure of 2000.

The National Bureau of China statistics today records the growth of steel and cast iron by more than 2%. The largest Chinese manufacturer steel Baosteel announced an increase in the cost of cold -rolled sheet metal rolling for December, which will be the first increase in prices for the sheet over the past three months.







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