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China Steel Association: Steel prices are expected to be better than the first quarter in the second quarter
Release time:2018/4/28
Liu Zhenjiang, secretary of the China Iron and Steel Association Party Committee and Secretary General, said at the press conference of the China Steel Association that the start of steel prices this year is relatively slow, steel prices will have some room for growth but little change, and it is expected that prices will be good in the second quarter. In the first quarter.
In response to this year’s steel demand, he said that the World Steel Association’s forecast is zero growth, and China’s projected growth rate will be higher than zero, but not much higher.
This year, the goal of steel production capacity reduction is 30 million tons. The National Development and Reform Commission and the Ministry of Industry and Information Technology have just released a joint “Working Points for Resolving Overcapacity by Steel in 2018”. Under this background, the China Iron and Steel Association will cooperate with relevant departments to prevent the resumption of the "Grid Steel" and the rectification of the excess production capacity of the major inspections from May to June this year.
He also pointed out that China Steel Association will continue to further coordinate the implementation of the debt-to-equity swap program with the banking institutions. At the same time, enterprises should also be reminded to take the initiative to communicate and negotiate with local governments and financial institutions to obtain relevant policies.
In response to the trade friction between China and the United States, he emphasized that the China Steel Association strongly supports the government’s policy toward the United States, and will also timely assess the impact of the US trade protection measures on China’s steel industry and, if necessary, propose countermeasures to relevant departments.
In response to this year’s steel demand, he said that the World Steel Association’s forecast is zero growth, and China’s projected growth rate will be higher than zero, but not much higher.
This year, the goal of steel production capacity reduction is 30 million tons. The National Development and Reform Commission and the Ministry of Industry and Information Technology have just released a joint “Working Points for Resolving Overcapacity by Steel in 2018”. Under this background, the China Iron and Steel Association will cooperate with relevant departments to prevent the resumption of the "Grid Steel" and the rectification of the excess production capacity of the major inspections from May to June this year.
He also pointed out that China Steel Association will continue to further coordinate the implementation of the debt-to-equity swap program with the banking institutions. At the same time, enterprises should also be reminded to take the initiative to communicate and negotiate with local governments and financial institutions to obtain relevant policies.
In response to the trade friction between China and the United States, he emphasized that the China Steel Association strongly supports the government’s policy toward the United States, and will also timely assess the impact of the US trade protection measures on China’s steel industry and, if necessary, propose countermeasures to relevant departments.
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