Steel Slowdown Led 40% of Chinese Mills to Cut Output

Resource from: CBCC Likes:2976

Aug 25,2010

Slowing steel demand in China, the world’s largest consumer of the metal, forced 40 percent of mills to cut output or put plants on maintenance this year, the China Iron & Steel Association said. Costs of production have risen while steel prices have dropped since April, Luo Bingsheng, vice chairman of the China Iron & Steel Association said today at a press conference in Beijing. “Facing higher costs and lower prices, steelmakers’ margins will be further reduced, so the situation this quarter is very tough,” Luo said. Domestic prices of hot-rolled coil fell for seven straight weeks to July 16, as government measures to curb property speculation damped demand for steel. The average import costs of iron ore, a key steelmaking ingredient, in China jumped 46.4 percent in the first half from a year ago, the steel association said .

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous HLB Company was Awarded the Honorary Title “Leading Enterprise in Shandong Provincial High Quality Products Manufacturing Base”
Next Gaotang Quality Supervision Bureau Investigated a Bearing Company which uses fake ISO9001 Certification

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.