A few days ago, the international European Commission announced on Chinese-made seamless pipe provisional anti-dumping duties imposed. China's Ministry of Commerce Bureau of Fair Trading issued a statement a few days ago and who pointed out that the recently concluded G-20 summit in London once again reiterated its opposition to trade protectionism and restraint in the use of trade remedy measures. From European countries can be seen on the move, with its own very strong trade protectionism. The current financial crisis has disrupted the free international market mechanism, in which European countries does not speak, but their heart is still in the steel industry to seek a way out.
Citibank expects the program to stimulate the global economy in nearly six billion U.S. dollars in relation to infrastructure investment, the direct demand for steel is approximately 1.2 billion tons. However, Citigroup believes that the steel mills, the Government must make up for the stimulus program to reduce the magnitude of private investment in order to think that industry growth, particularly infrastructure projects China is ambitious, but will reduce foreign direct investment. Foreign direct investment to China in 2006 and in 2007 China's GDP accounted for 5.7% and 6%.
In fact, China last year's economic stimulus package to support steel demand is the only factor. Stimulation of this year's program to reduce the ratio of investment in infrastructure, while increasing health care, education and low-end housing supply, it is estimated that the annual demand for steel will reduce 6.8 million tons. Lyon, France, said that the changes in the overall demand for steel has little impact. However, Lyon, analysts believe that the recent rebound in steel stocks do not have continuity, investors should leave a profit.
Major foreign hard metal administration rendering
It is understood that the United States and South America, Europe, the Organization of the eight iron and steel on April 14 issued a joint statement that China's "iron and steel industry development policy" and other acts of the Government is undermining and distorting the global steel market, China should put an end to the iron and steel industry subsidies and other unfair acts of competitive advantage.
Published April 14 at the American Iron and Steel Institute (AISI) website said the junction declaration, China's iron alloy commerce should be founded on the standard of the regulations of the market other than government intervention. The declaration that they accepted the Chinese Ministry of Public Works to change the "iron and iron alloy commerce development policy" to search the outlooks of the answer notice. In the declaration, the Chinese Government put ahead six recommendations. These include: the suspension of the metal and iron alloy output in China to supply grants to the iron alloy vegetation to halt functioning the command and guidance, the abolition of limits on trade items of raw components, China should halt manipulating its currency limits and other series.
It is intriguing that in the junction declaration handed out just one day after the U.S. Department of the Treasury on time April 15 to submit to the Congress semi-annual report of foremost swapping partners, the exchange rate, the Obama Government accepts as factual that the United States, encompassing China, foremost swapping partners , there is no manipulation of the exchange rate to gain an unjust comparable advantage. U.S. Treasury Secretary Timothy Geithner said in a declaration sharp out that China has taken steps to reinforce the exchange rate flexibility. American Iron and Steel Institute and the United States Government does not appear to any face, its said in a declaration on the 15th of Obama in the semi-annual report the Government determined to manipulate the exchange rate in China as the homeland is not very let down, and that Congress should swiftly overtake (Austria Bama should be in support of the Government) on the exchange rate to manipulate the topic of trade remedy laws.
It is appreciated that this junction declaration handed out by eight of the metal and iron alloy are the American Iron and Steel Institute, the Canadian Association of metal and iron alloy output (CSPA), iron alloy trades Committee (CPTI), the European Union Iron and Steel Industry (EUROFER), the Latin American Iron and Steel Institute (ILAFA), Mexico Association of metal and iron alloy output (CANACERO), exceptional iron alloy commerce associations in North America (SSINA) and the American Iron and Steel Manufacturers Association (SMA).
Buyer's market has been formed
According to China Steel Association data show that community by the end of March increased 17.65 percent stocks. Morgan Stanley believes that as the world's largest steel-consuming countries - China's iron and steel stocks reached a record high, the market has already begun moving in the direction of over-supply. Its expected global steel demand this year will be reduced by 11%, while China's demand will fall 5.5%. At the same time, the result of delays in iron ore negotiations, the Baltic Dry Freight Index continued to fall, so that steel costs have continued to decline in space, all steel pressure.
Iron ore cost discussions this year, pulling its feet. A couple of days before the world's second biggest metal ore manufacturers Rio Tinto for the time being out of the suggested 20 per hundred cost decrease, but the China Iron and Steel Association conveyed opponents to, that this fall is too reduced, and claimed the agreement cost in agreement with the last year of 60% for pre-paid, to be agreement come to after a little number of back up. FMG Group Executive Director said, FMG Group standard metal ore charges this year will fall 30 per hundred, which is the second manufacturer of metal ore metal ore charges will fall position.
Trade hurdles commanded to the serious trade overseas circumstances
Market anticipations, metal ore discussions in Q2 is anticipated to arrive to an end, will not be pulled off by June. Goldman Sachs analyst forecast that the long-term charges should be down into four. The Mainland in March a total of 51 million tons of metal ore trades, while trades come to record highs over the preceding year's 35.68 million tons over the identical time span expanded by 43% due to the present location cost is only last year, 40% of agreement cost, iron alloy charges may be re-signed Before the new agreement to boost the money inventory.
Since September last year by the international financial crisis, the international market shrinking demand for steel, China steel exports fell sharply. China's steel products to enhance the export competitiveness of the mainland from December 1 last year, since the abolition of export tariffs on some steel products, on January 1 this year, also removes the steel export license management system, April 1 increase in some high value-added products for export tax rebates rate to 13%.
Remains in the doldrums as a outcome of demand and components for example trade protectionism, China's iron alloy trade items position is grim. China in January to February the trade items 3.47 million tons of steel. Further in February to which 1,562,000 tons, down 18.1 per hundred, a record since the November 2005 China's iron alloy trade items capacity monthly low. The mean cost of trade items in November last year 1324 U.S. dollars per tonne, and step-by-step dropped back to February of this year 1129 U.S. dollars per ton, declined by 14.7% cumulative. - 22787
Citibank expects the program to stimulate the global economy in nearly six billion U.S. dollars in relation to infrastructure investment, the direct demand for steel is approximately 1.2 billion tons. However, Citigroup believes that the steel mills, the Government must make up for the stimulus program to reduce the magnitude of private investment in order to think that industry growth, particularly infrastructure projects China is ambitious, but will reduce foreign direct investment. Foreign direct investment to China in 2006 and in 2007 China's GDP accounted for 5.7% and 6%.
In fact, China last year's economic stimulus package to support steel demand is the only factor. Stimulation of this year's program to reduce the ratio of investment in infrastructure, while increasing health care, education and low-end housing supply, it is estimated that the annual demand for steel will reduce 6.8 million tons. Lyon, France, said that the changes in the overall demand for steel has little impact. However, Lyon, analysts believe that the recent rebound in steel stocks do not have continuity, investors should leave a profit.
Major foreign hard metal administration rendering
It is understood that the United States and South America, Europe, the Organization of the eight iron and steel on April 14 issued a joint statement that China's "iron and steel industry development policy" and other acts of the Government is undermining and distorting the global steel market, China should put an end to the iron and steel industry subsidies and other unfair acts of competitive advantage.
Published April 14 at the American Iron and Steel Institute (AISI) website said the junction declaration, China's iron alloy commerce should be founded on the standard of the regulations of the market other than government intervention. The declaration that they accepted the Chinese Ministry of Public Works to change the "iron and iron alloy commerce development policy" to search the outlooks of the answer notice. In the declaration, the Chinese Government put ahead six recommendations. These include: the suspension of the metal and iron alloy output in China to supply grants to the iron alloy vegetation to halt functioning the command and guidance, the abolition of limits on trade items of raw components, China should halt manipulating its currency limits and other series.
It is intriguing that in the junction declaration handed out just one day after the U.S. Department of the Treasury on time April 15 to submit to the Congress semi-annual report of foremost swapping partners, the exchange rate, the Obama Government accepts as factual that the United States, encompassing China, foremost swapping partners , there is no manipulation of the exchange rate to gain an unjust comparable advantage. U.S. Treasury Secretary Timothy Geithner said in a declaration sharp out that China has taken steps to reinforce the exchange rate flexibility. American Iron and Steel Institute and the United States Government does not appear to any face, its said in a declaration on the 15th of Obama in the semi-annual report the Government determined to manipulate the exchange rate in China as the homeland is not very let down, and that Congress should swiftly overtake (Austria Bama should be in support of the Government) on the exchange rate to manipulate the topic of trade remedy laws.
It is appreciated that this junction declaration handed out by eight of the metal and iron alloy are the American Iron and Steel Institute, the Canadian Association of metal and iron alloy output (CSPA), iron alloy trades Committee (CPTI), the European Union Iron and Steel Industry (EUROFER), the Latin American Iron and Steel Institute (ILAFA), Mexico Association of metal and iron alloy output (CANACERO), exceptional iron alloy commerce associations in North America (SSINA) and the American Iron and Steel Manufacturers Association (SMA).
Buyer's market has been formed
According to China Steel Association data show that community by the end of March increased 17.65 percent stocks. Morgan Stanley believes that as the world's largest steel-consuming countries - China's iron and steel stocks reached a record high, the market has already begun moving in the direction of over-supply. Its expected global steel demand this year will be reduced by 11%, while China's demand will fall 5.5%. At the same time, the result of delays in iron ore negotiations, the Baltic Dry Freight Index continued to fall, so that steel costs have continued to decline in space, all steel pressure.
Iron ore cost discussions this year, pulling its feet. A couple of days before the world's second biggest metal ore manufacturers Rio Tinto for the time being out of the suggested 20 per hundred cost decrease, but the China Iron and Steel Association conveyed opponents to, that this fall is too reduced, and claimed the agreement cost in agreement with the last year of 60% for pre-paid, to be agreement come to after a little number of back up. FMG Group Executive Director said, FMG Group standard metal ore charges this year will fall 30 per hundred, which is the second manufacturer of metal ore metal ore charges will fall position.
Trade hurdles commanded to the serious trade overseas circumstances
Market anticipations, metal ore discussions in Q2 is anticipated to arrive to an end, will not be pulled off by June. Goldman Sachs analyst forecast that the long-term charges should be down into four. The Mainland in March a total of 51 million tons of metal ore trades, while trades come to record highs over the preceding year's 35.68 million tons over the identical time span expanded by 43% due to the present location cost is only last year, 40% of agreement cost, iron alloy charges may be re-signed Before the new agreement to boost the money inventory.
Since September last year by the international financial crisis, the international market shrinking demand for steel, China steel exports fell sharply. China's steel products to enhance the export competitiveness of the mainland from December 1 last year, since the abolition of export tariffs on some steel products, on January 1 this year, also removes the steel export license management system, April 1 increase in some high value-added products for export tax rebates rate to 13%.
Remains in the doldrums as a outcome of demand and components for example trade protectionism, China's iron alloy trade items position is grim. China in January to February the trade items 3.47 million tons of steel. Further in February to which 1,562,000 tons, down 18.1 per hundred, a record since the November 2005 China's iron alloy trade items capacity monthly low. The mean cost of trade items in November last year 1324 U.S. dollars per tonne, and step-by-step dropped back to February of this year 1129 U.S. dollars per ton, declined by 14.7% cumulative. - 22787
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