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[Ferro-alloys.com] Since May 29, the Shanghai composite index closed 2324.02 points, which reached a peak stage and then continued downward. On June 21, the index fell 2000 points and finally closed at 1963.23 points. To a certain extent, Stock markets continued downward, which also reflects pressure rising of China's economic downward.
Under the weak economics circumstance, Chinese industry is also facing challenges. Iron and steel industry, the pillar industry in China, was influenced by the negative situation. The weakness of the current steel industry has been emerging. according to the latest news, Environmental protection supervision centers announced to check the Tangshan, Handan , Qinhuangdao, ringtail four cities and found that in recent years the built 34 steel projects had no any environmental protection procedures. It also means that dozens of steel project will may be shut down or dismantle equipment directly. From this view, the difficult situation of the iron and steel industry is even far beyond our imagination.
On the one hand, in late June the majority of steel mills announced ex-factory price of steel products in July, basically the price was cut RMB 100-150 /tm comparing with the last month. Steel market is downturn, so iron alloy industry as raw materials will inevitably be influenced. After entering in late June, Jisco, Tai-Steel, Sha-Steel etc. and other steel mills have started ferroalloy bidding procurement in July it is expected that ferroalloy market will tend to be more active, but the price is still difficult to change.
On another hand, exchange rate of the RMB and international major currencies is still the common concern in the ferroalloys industry. So far the RMB dollar appreciates, but the yen, the won, and the Australian dollar against the dollar devaluate. The fluctuations of the rate make more risks for China's export trade. There is no doubt ferroalloy exports also were affected by the weak situation. According to the export data from the customs statistics, since 2013 the Chinese ferroalloy exports has start to rebound relatively the last year, but largely due to canceling temporary export tariffs of some products including silicon metal, which lead to the ferroalloy exports have rebounded. However other ferroalloys products such as ferrosilicon, silicon manganese and chromium iron etc. exports has no obviously rebounded.
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- [Editor:editor]
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