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Domestic steel prices to suffer the cold mass raids, as leader of the Bao Steel Group is no exception. Inventories increased 3 percent over the beginning of the third quarter compared with second quarter net profit fell 47.2%. "We face the most serious challenge ever." Summers and winters are most vulnerable to flu mutation Change as the world economic situation, the steel market nosedive, high steel prices from falling into decline, and the speed of decline of the rare deep for many years. Domestic steel prices raid group to withstand the cold, even as the national leader Baosteel Group, is no exception. "More and more serious atmosphere, all levels, and meeting their business more and more, all in the analysis of market conditions to convey, discuss measures, encouraged by the staff confidence to push forward the response." Baosteel Group, an insider told reporters 11 . Materials from Baosteel said internal, the Group Vice Chairman Liu Guosheng held at the November 6 at the situation and tasks and to promote education, summed up the situation faced by Baosteel: "iron and steel enterprises in the high cost and price 'diving' flank of the state . Baosteel is facing unprecedented challenges. "Ouyang Ying Peng, deputy secretary of the Group party to say is:" Steel Construction and Development in the occasion of 30 years, we face the most severe market challenges in history. "month of the year 9,10 , domestic steel demand remains in the doldrums, the domestic steel prices falling. With a peak in June compared to steel prices, steel prices suddenly slid four percent. End-market reporters in Beijing learned, for example in June of 6100 yuan per ton Rebar Now they can only sell 3,600 yuan, almost tragically cut short. While steel prices fell sharply, but most of the cost of steel prices remains high, particularly Iron ore , Coke and other raw material costs, is still sitting high on top of the first half. Cost and price a serious inversion. Baosteel three quarterly show, the stock reached 52.14 billion yuan, an increase of 33.46%. Net 11.23 billion yuan in cash flow, less than half of last year. 52.1 billion in stock, raw materials, about 17.705 billion yuan, 13.846 billion yuan semi-finished products, finished products and stock merchandise 16.339 billion yuan, 4.251 billion yuan materials spare parts. Large inventory of raw materials which are due before the international steel industry Iron ore talks Crisis, to prevent problems in the supply iron ore, Baosteel has increased the storage capacity of iron ore was Iron ore price Is high. However, in the first 9 months of imports of iron ore average CIF 141 U.S. dollars / ton, is now down to USD 80 / ton. Baosteel three quarterly shows that the three-quarter operating income of 56.36 billion yuan of Baosteel, up 12.5%, but quarter chain perspective, third quarter net profit chain in the second quarter of Baosteel fell sharply 47.2% Strive for optimum performance The face of tough market conditions, on November 7, Baosteel held a "mobilization meeting on the situation in the fourth quarter of operations." At the meeting, Group Chairman Xu Lejiang said the current tough market situation, in the "strategic defiance, tactically." The former is for the people full of confidence, orderly work; which is to fully understand the current situation, to reducing efficiency, the formulation of response plans, and actively respond to market changes. He Wenbo, general manager of Baosteel, said at the meeting to encourage everyone, Baosteel is capable of difficult market environment, China's steel industry to do the best business performance. Asked companies tapping the potential cost reduction through various forms, and remind to ensure the safety of cash flow. After news that Baosteel Group in response to the industry downturn, brewing down wages. Although this news and was then denied Baosteel, but reporters have learned is that, with the depth of the market down, Baosteel's performance part of the employee income has declined. However, the human costs of Baosteel in a low proportion of total operating costs, and will not do much in this respect the article. Reporter learned that, due to shrinking market demand and maintain high inventory will only increase. As Baosteel "1 BF" still overhaul, and some equipment, take the opportunity to repair or technical reform, the output of Baosteel has been reduced. Baosteel may then refer to the market situation, stop individual projects. Meanwhile, in order to reduce inventory, sales staff out of Baosteel strongly encouraged to actively visit customers, understand the market needs and in conjunction with relevant departments to replace imported products of Baosteel feasibility study. The e-commerce company in China offers quality products such as portable phone charger , deep cycle battery charger Manufacturer, and more. For more , please visit aaa nimh battery charger today!
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