After September 2008, affected by the international financial crisis, the prices of various non-ferrous metal products have plunged, which directly led to the violent fluctuations of related production enterprises, the sharply reduced profits, and even huge losses. Since then, in addition to the industry's spontaneous production cuts and production suspension, the national and local governments have also introduced industry revitalization policies for the storage and storage of non-ferrous metal products. Under the influence of multiple factors, the current plunge in the price of non-ferrous metals has stopped, and some categories have rebounded. The purchasing and storage policy has played a positive role in it, but it is still worth exploring for some details, especially when it comes to local storage.
At present, the provinces and cities and regions that have introduced local purchasing and storage policies, the non-ferrous metals industry has a relatively important position in the local economy. For example, at the end of 2008, Yunnan Province proposed to collect 1 million tons of non-ferrous metal products in phases in 2009; Guangxi Province also initially determined that it will store 460,000 tons of non-ferrous metals in 2009.
Different from the national reserve, a key issue in local storage is the source of funds. Judging from the situation of purchasing and storage in a certain area of ​​Jiangxi Province, the local government has adopted a storage company to pledged products to financial institutions, financial institutions issued loans to the storage enterprises, and the government subsidized the goods. The storage enterprises are mainly non-ferrous metal deep processing enterprises. It is reported that some other regions in China also intend to adopt similar operations.
From the current stage, the above-mentioned way solves the problem of the source of funds for collection and storage. The actual burden of the government is only the interest subsidy. However, in the long run, the risks involved in this are mainly due to the fact that the overall economic adjustment time exceeds expectations. After all, for the most serious global economic crisis since the 1930s, how the future will evolve will not be accurately judged.
The term of the loan issued by the bank is one year. If the terminal consumer market does not recover, the operation status of the storage enterprise will not improve or even worsen. In the most extreme case of bankruptcy, the enterprise cannot repay the loan, so there is product as a product. Mortgage, banks may still face losses. Moreover, if the market environment does not improve after one year, if the participating parties cannot reach a continuation of the mortgage loan, the recovered goods will return to the market and increase the supply pressure.
At the same time, the amount of storage is also a key. For example, the preliminary plan for Jiangxi Province is to store 10,000 tons of tungsten concentrate and tungsten processing products this year, and to collect and store 1 billion yuan. According to statistics, in 2008, Jiangxi's tungsten concentrate production accounted for more than 40% of the country, about 39,000 tons, and if the 5000t is tungsten concentrate in the above-mentioned reserve plan, it will account for 13% of the province's output. It remains to be seen how much such a reserve will produce due to the current start of the reserve operation.
In this round of financial crisis, the whole world has begun to emphasize the government's regulation of the economy, and the price adjustment of bulk commodities and important materials through reserve is also an important means of government regulation. In recent years, China has succeeded in corn and wheat. Operation. For the recent rise of non-ferrous metals in the place, the reporter believes that there are still two aspects that need to be improved. On the one hand, the search for long-term stable sources of funds, with the help of bank loans, can solve the thirst, but banks that operate more and more market have their own profit requirements, short-term goals may not be consistent with local governments, and from the experience of countries The reserve regulation, such as the bargain-hunting and rallies, can be said to be stable and profitable. It may only be a long time to complete a cycle. Therefore, it should be a long-term stable and low-cost fund. The source may be long-term bonds issued by local governments, industrial funds, etc.
On the other hand, perfecting the science of purchasing quantity and price decision-making mechanism, truly effective regulation, while preventing the emergence of “rent-seekingâ€, the model of this mechanism can be built on the profitability of related product manufacturers, and then Consider the country's industrial development policies.
At present, the provinces and cities and regions that have introduced local purchasing and storage policies, the non-ferrous metals industry has a relatively important position in the local economy. For example, at the end of 2008, Yunnan Province proposed to collect 1 million tons of non-ferrous metal products in phases in 2009; Guangxi Province also initially determined that it will store 460,000 tons of non-ferrous metals in 2009.
Different from the national reserve, a key issue in local storage is the source of funds. Judging from the situation of purchasing and storage in a certain area of ​​Jiangxi Province, the local government has adopted a storage company to pledged products to financial institutions, financial institutions issued loans to the storage enterprises, and the government subsidized the goods. The storage enterprises are mainly non-ferrous metal deep processing enterprises. It is reported that some other regions in China also intend to adopt similar operations.
From the current stage, the above-mentioned way solves the problem of the source of funds for collection and storage. The actual burden of the government is only the interest subsidy. However, in the long run, the risks involved in this are mainly due to the fact that the overall economic adjustment time exceeds expectations. After all, for the most serious global economic crisis since the 1930s, how the future will evolve will not be accurately judged.
The term of the loan issued by the bank is one year. If the terminal consumer market does not recover, the operation status of the storage enterprise will not improve or even worsen. In the most extreme case of bankruptcy, the enterprise cannot repay the loan, so there is product as a product. Mortgage, banks may still face losses. Moreover, if the market environment does not improve after one year, if the participating parties cannot reach a continuation of the mortgage loan, the recovered goods will return to the market and increase the supply pressure.
At the same time, the amount of storage is also a key. For example, the preliminary plan for Jiangxi Province is to store 10,000 tons of tungsten concentrate and tungsten processing products this year, and to collect and store 1 billion yuan. According to statistics, in 2008, Jiangxi's tungsten concentrate production accounted for more than 40% of the country, about 39,000 tons, and if the 5000t is tungsten concentrate in the above-mentioned reserve plan, it will account for 13% of the province's output. It remains to be seen how much such a reserve will produce due to the current start of the reserve operation.
In this round of financial crisis, the whole world has begun to emphasize the government's regulation of the economy, and the price adjustment of bulk commodities and important materials through reserve is also an important means of government regulation. In recent years, China has succeeded in corn and wheat. Operation. For the recent rise of non-ferrous metals in the place, the reporter believes that there are still two aspects that need to be improved. On the one hand, the search for long-term stable sources of funds, with the help of bank loans, can solve the thirst, but banks that operate more and more market have their own profit requirements, short-term goals may not be consistent with local governments, and from the experience of countries The reserve regulation, such as the bargain-hunting and rallies, can be said to be stable and profitable. It may only be a long time to complete a cycle. Therefore, it should be a long-term stable and low-cost fund. The source may be long-term bonds issued by local governments, industrial funds, etc.
On the other hand, perfecting the science of purchasing quantity and price decision-making mechanism, truly effective regulation, while preventing the emergence of “rent-seekingâ€, the model of this mechanism can be built on the profitability of related product manufacturers, and then Consider the country's industrial development policies.
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