1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      March steel inventories hit record high

      2013-04-12 10:15 Global Times     Web Editor: qindexing comment

      Inventories of steel products in China hit a record high in March, the Ministry of Industry and Information Technology (MIIT) revealed Thursday, in further bad news for the nation's steel sector, which has been hit hard amid the economic showdown.

      The total stockpiles of five major steel products across 22 cities reached a new record of 15.57 million tons during March, up 22.9 percent compared to a month earlier, the ministry said Thursday in a statement on its website, citing the latest figures from the China Iron and Steel Association (CISA).

      The rising stockpiles will put the industry under more pressure, the statement said.

      Over the past few months, steel output has been rising at an accelerating pace, whereas demand for steel products has yet to see a big upturn, leading to the growing stockpiles, explained Wang Guoqing, a researcher at Beijing Lange Steel Information Research Center.

      "The trend will definitely weigh on sentiment, as it indicates worsening oversupply in the market," Wang told the Global Times Thursday.

      The overall climate confronting the steel industry remains severe, mostly owing to an excessively fast rise in steel output, Liu Zhenjiang, vice president of the CISA, also said at the end of March.

      The iron and steel sector has been one of the industries most affected by the nation's cooling growth in recent years. While a recovery seen in China's economy since the fourth quarter of 2012 has helped the industry, the long-standing overcapacity issue appears to be getting worse.

      The MIIT has promised to tackle the overcapacity issue. On Thursday, it announced goals for eliminating backward production capacity in 19 industries, including the iron and steel industries.

      In 2013, production will be cut by a total of 2.63 million tons for iron and 7.81 million tons for steel, according to the MIIT.

      But Wang said the goal is actually below her previous estimate, as this year's goals are lower than in previous years.

      "Maybe backward production capacity has already been squeezed out in recent years," said Wang, adding that overcapacity problems are still rampant in the sector.

      Analysts also expressed concerns over profit margins at the country's steel mills.

      Major steel mills' profit margins are expected to fall further during March, weighed down by high iron ore prices and unstable steel product prices, Zheng Dong, a Beijing-based steel industry analyst at Guosen Securities Co, told the Global Times Thursday.

      The situation may improve in the second quarter, but the bearish sentiment will probably last for the whole year, Zheng forecast.

      The country's major steel mills netted total profits of 998 million yuan ($160.98 million) in February, a decline of 25.4 percent compared to the previous month, according to the CISA.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲高清视频在线观看| 国产成人麻豆亚洲综合无码精品| 亚洲国产精品免费视频| 99视频免费在线观看| 亚洲精品午夜无码电影网| 国产免费黄色无码视频| 亚洲中文字幕久久精品无码喷水| 国产精品成人啪精品视频免费| 国产国产人免费视频成69大陆| 九九精品国产亚洲AV日韩| 国产又大又粗又硬又长免费 | 国产亚洲欧洲Aⅴ综合一区 | 亚洲成aⅴ人片久青草影院 | 无码中文字幕av免费放dvd| 亚洲最大福利视频网站| 4399好看日本在线电影免费| 久久亚洲精品专区蓝色区| 最近中文字幕mv手机免费高清| 日韩亚洲翔田千里在线| 狠狠亚洲狠狠欧洲2019| 日韩免费电影网站| 亚洲国产美女在线观看| 日韩精品视频免费网址| www免费插插视频| 亚洲资源在线观看| 无人在线观看免费高清视频| 最新亚洲人成无码网站| 亚洲国产精品特色大片观看完整版| 最近2019中文字幕免费直播| 亚洲伊人久久大香线蕉结合| 国产免费观看黄AV片 | 久久国产免费直播| 亚洲综合男人的天堂色婷婷| 成人免费无码大片A毛片抽搐色欲| 少妇亚洲免费精品| 911精品国产亚洲日本美国韩国| 国内外成人免费视频| 插鸡网站在线播放免费观看| 亚洲中文久久精品无码1| 亚洲国产av无码精品| 50岁老女人的毛片免费观看|