Since the fourth quarter of last year, the domestic steel industry has entered the "cold winter" ahead of schedule. Domestic demand is not good, and in terms of raw materials, imported ore prices are running at a high level. The double extrusion from the upstream and downstream makes the profits of domestic steel companies shrink sharply, and many steel companies are suffering from serious losses. Nowadays, the “Golden Three Silver Four†in 2012 has already passed the Thai half, but the domestic steel industry does not seem to have gone out of the cold, and steel companies are still struggling. Steel companies last year are hard to see       Last year's steel enterprise annual report was generally ugly. Recently, Angang, the leader of the domestic steel industry, disclosed that its 2011 loss was 2.163 billion yuan. In addition, Guangzhou Iron and Steel disclosed that the company had a loss of 690 million yuan last year; Guangdong Songgang Songshan Co., Ltd. lost 1.138 billion yuan; although Chongqing Iron and Steel did not list specific figures in the performance forecast, it directly indicated that the 2011 net profit was “ Large losses." Valin Steel today released its 2011 annual report, the net profit attributable to shareholders of listed companies was 70.136 million yuan, a loss of 2.644 billion yuan in the same period of the previous year, an increase of 102.65%; the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses It was -12.33 billion yuan, compared with -2.666 billion yuan in the same period of last year; basic earnings per share was 0.0237 yuan, compared with -0.9657 yuan in the same period last year. The company's 2011 net profit was 70.136 million yuan, although the year-on-year turnaround, but the "pushing hand" behind it is the sale of non-core assets and other measures, plus government subsidies of 1.168 billion yuan to turn losses "combination boxing." Excluding the government's "red envelope" subsidy of more than 1 billion yuan, it can be seen that the profitability of its main business is not optimistic. The price is upside down, and the cost has caused trouble. Domestic steel has generally ended in losses last year. The industry generally believes that steel prices are falling and iron ore is too expensive. Angang pointed out that the decrease in turnover, gross profit and net profit was mainly due to factors such as the increase in the price of raw materials such as iron ore, which was much higher than the increase in steel prices and the decrease in production and sales. In particular, steel prices continued to fall in the fourth quarter of last year, but the prices of major raw fuels remained at a high level. Valin Steel said that in 2012, even a longer period of time, it is still a very difficult period for the development of the steel industry, and the task of the company's efforts to get rid of difficulties is very heavy. As far as raw materials are concerned, today's large-scale raw fuels such as coal and mines are in a near-monopoly situation, and resource prices will remain high. The pattern of “two-head†extrusion for supply and marketing will exist for a long time in a certain period of time. China Iron and Steel Association admitted that for two consecutive years, the annual sales profit rate of China's steel production industry has been less than 3%, far lower than the average profit level of 6% of the national industrial industry. Zhang Changfu, vice president and secretary-general of China Steel Association, stressed: "The prices of raw materials have risen, working capital has tightened, steel prices have risen weakly, and the steel industry has fallen into the face of overall losses." This year's international macroeconomic development is not happy, the European debt crisis has not yet Out of the shadow, there is still a recurrence trend; at the same time, the domestic economic development rate is lowered, and the transformation is accompanied by risks. Affected by the macro situation, the growth of downstream industries will slow down, and the demand for steel will also slow down. The survival of the steel industry is still difficult. At present, the concentration of the steel industry is not high, the supply exceeds demand and the homogenization is serious, which has intensified market competition. The efficiency of the steel industry is limited, and the production and operation enters the era of low profit. The serious increase in costs has further squeezed the profit margins of steel companies. Since the fourth quarter of 2011, the steel industry has entered a state of loss from a low profit state. "Big boat landing" may bring further impact. Recently, there have been media reports. After several twists and turns, Vale's "big ship docking China port plan" may turn around in the near future. According to authoritative sources, the attitude of relevant departments has changed, and the issue of the port of 400,000-ton ships in Vale may be resolved in the near future. At the same time, Vale's chief financial officer Tito Martins said in an interview with foreign media that China will "lift the ban" of the company's giant iron ore fleet within a few months, allowing the 400,000-ton bulk carrier in Vale. China port unloading. Regarding the call of the Vale ship to the Chinese port, the domestic shipping industry and the steel industry related people have repeatedly raised objections from the perspective of industrial safety. However, it seems to have little effect. The analysis pointed out that Vale is a major business giant in Brazil, and its influence cannot be ignored. Although it has repeatedly raised objections, it is under great pressure. An insider of the China Iron and Steel Association said that looking back on the iron ore roads in recent years, whether the three major mines use monopoly to significantly increase the price of iron ore, or abolish the long-term negotiation of iron ore index, the actual purpose is To earn more excess profits. According to the analysis, after the approval of the big ship in Vale, the next step is to build a distribution center. Compared with the “two extensionsâ€, Vale’s competitive strength in the Chinese iron ore spot market will increase, but this does not mean Iron ore prices will fall as Vale may also use monopoly positions to manipulate the iron ore market and maximize iron ore profits. At the same time, in the current downturn of the shipping industry, the 400,000-ton bulk carrier of Vale will further increase the capacity surplus after it is put on the market. People's expectations for the shipping industry will be more pessimistic and will accelerate the closure of some shipping companies. Once Vale monopolizes the shipping industry, it will not only monopolize the price and supply of ore, but also control the entire shipping market. For steel mills, the risk is even more difficult to control.
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