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Xu Lejiang chairman of Baosteel Group said on December 6, the financial crisis caused demand for the market decline for the steel industry has been greater than the required capacity, steel prices in the low long-term consolidation. He said that the steel industry, "the end of next year, or year after next is the end, do not know." He is the China Europe International Business School's "2008 Global Management Forum" on the views expressed. The China Iron and Steel Industry Association, Qi Xiangdong, deputy secretary general of 6 reveals that China's steel industry in the production of rapid decline since the third quarter, prices fell sharply, loss-making enterprises increased dramatically, the industry faces severe challenges. From January to October this year, 71 large and medium steel companies profit fell 0.93%, which, in August profit fell 19.44%, down 72.9% in September, October was 5.835 billion yuan direct losses. Xu Lejiang said, including Baosteel, including the domestic steel industry, steel mills are taking on the consequences of the rapid development had to deal with, the only "stick." Steel industry supply and demand imbalance Xu Lejiang said the fourth quarter of this year, the annual domestic consumption of steel are less than 400 million tons of steel capacity, but China has 600 million tons of annual steel output capacity. This case, reduce the serious business of steel production, Japan domestic steel production in June level of 1.56 million tons, the annual equivalent of 570 million tons of steel capacity level, but in October, Nissan steel is 116 million tons, equivalent to an annual output of only steel 420 million tons. Even so, demand is still a serious decline downstream users including the automotive, appliance, shipbuilding, real estate and other industries including steel, all in the reduction. Also, because steel prices within a few weeks, dramatic changes have led to a period of time over the market price reaction, steel prices in the low long-term consolidation. Qi Xiangdong said, in October China's 71 large and medium steel producing companies, 42 losses, loss of 59%, low demand, steel prices plunge, high costs, loss of steel enterprises to increase the three major reasons. Had an internal meeting, Xu Lejiang Baosteel asked staff to make changes for this round of falling demand. He said that in this situation, we must re-examine the operation system of Baosteel. Previously in short supply due to the long-term thinking Baosteel produced inertia, and therefore, when the market is rapidly changing, the conventional thinking will not meet, Baosteel for reflection. But Baosteel adhere to the same primary industry development strategy, the state of the steel industry has set forth requirements for future development, Baosteel is a rare opportunity. Access to the most difficult period of Baosteel Reporter was informed that Baosteel has already begun deployment of the negative response to the situation of the steel industry. Sources, according to Baosteel, has just held a special internal management situation briefings, group business director of the above, Baoshan Iron & Steel (600 019) Assistant above, the Group Headquarters, C-level management personnel above all to participate. Baosteel Group Corporation, said at the meeting He Wenbo, iron and steel market mutation, international and domestic steel prices continued to fall, a serious backlog of inventory, iron and steel stocks on the current high price of raw materials production and operation of huge pressure, all iron and steel industry has a loss . Baosteel's production of this crisis, sales, effective in severe decline, Baosteel to enter the most difficult period of history. For the current economic situation and steel market situation, He Wenbo said Baosteel Group will take compression and adjust the scale of investment in fixed assets and long-term, close monitoring of various investment projects implementation, to further improve and enhance the overall risk management systems should measures. In addition, Baosteel will further improve the marketing and management, upgrading and strengthening the supply chain system, market development and customer service capabilities; full speed product development and the conversion process, increase the proportion of high value-added products and optimize product mix to maximize Baosteel advantage of R & D and technical equipment; close attention to domestic steel industry and supply chain related industries, the dynamic, active participation of industrial restructuring, the continued implementation Baosteel steel industry and related industry development plan. I am an expert from skeletonmechanicalwatch.com, while we provides the quality product, such as automatic skeleton watches Manufacturer , skeleton dial watches Manufacturer, accuracy mechanical watch,and more.
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