Affected by iron alloy charges stayed reduced, and foreign iron alloy businesses over the days it appears that the more sore – earnings proceeded to down turn, more and more losses.

“My steel and steel,” the current statistics present that over the past week, in the household hard metal costs carried on to movement down, this is the tenth following week of descent steel. Plate costs carried on to descent, has been constricted, the largest charge lessening in tons of 100 yuan or less; sultry and chilled turned over to some extent worse costs, the Shanghai market wide hot-rolled wares specifications tons throughout 3080 yuan charge stage consolidation; large tons of material costs in the charge decline of 20 yuan.

And the movement of hard metal costs carried on to plunge in line, the profitability of in the household hard metal financial gatherings are in addition drastically reduced.

The evening of April 19, China’s Wuhan Iron and Steel Company shares of major steel production in 2008 Annual Report released in 2009 and the quarter reported by the provision for decline in value of large stocks, as well as preparation for the substantial decrease in steel demand for the impact of the year in 2008, as well as the performance of the first quarter of this year, there decline – 2008 operating income was achieved 73.339 billion yuan, up 35.41 percent growth, but decline as a result of provision of stock ready to 1.645 billion yuan, attributable to shareholders of listed companies net profit of 5.189 billion yuan, up 20 percent decline. Worse still, the realization of the first quarter 2009 operating income 10.913 billion yuan, up 30 percent drop in net profit 263 million yuan, up 87.17 percent year-on-year decline. Wuhan Steel shares pessimistically say that this year is still optimistic about the overall situation, the first half of the performance of the same period last year will be down more than 50%.

Prior to this, metal and iron alloy enterprises in China Baoshan Iron & Steel broadcast in 2008 the total earnings was 86.7 billion yuan, up 55.1 per hundred down turn, down more than WISCO.

The downward spiral in hard metal market is not only the consequence of steel and hard metal enterprises in China, the global hard metal oversized is in addition “very injured.”

April 20, Japan’s largest steel companies Nippon Steel Corporation said that its fiscal 2008 regular profits over the previous fiscal year is expected to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its forecast in January when the 400 billion yen.

Nippon Steel said that the automotive and electric-powered businesses as a effect of greatest customers to extend goods produced of its hard metal end wares carried on to decline. First quarter of this year plunged to the goods produced arrange the company’s past files since the start of the least purpose, only five million tons. Actual goods produced may be inferior, even less than the arrange for more than 300,000 tons.

Earlier in the day, another big South Korean Pohang Iron and Steel Rail said that as of March 31, its last year’s net income fell 68 percent, which is the company since the first quarter of 2001, the largest decline since.

“China’s steel city of the second quarter of difficult to bottom out.” To the flow of iron and steel analyst Productivity Center Rongliang He said that the Chinese steel market after the end of the beginning of the year short-term rebound, prices fell sharply again. At present, the market demand, shrinking exports, while steel production also did not achieve the desired objectives, the overall downturn in steel market. In the global economy is expected to continue downward, the excess iron and steel production under the pressure of the second quarter of the domestic steel market has bottomed out, prices rebounded sharply difficult.

China Steel Association latest statistics show that 3 at the end of the domestic composite steel price index to 97.59 points, fell 44.72 points, 31.42 percent decline. China Steel Association in the preparation of the price index in April 1994 of the composite steel price for 100 points, it is apparent that the integrated steel prices have now less than 15 years ago.

“China’s excess steel capacity significantly, the market supply pressure, more importantly, changed the trend of the global economy down.” However, Rongliang He said that steel prices have fallen sharply, and costs have dropped to the low prices the latter space small. Steel prices in May in the overall business environment will be improved, will enter a relatively stable time period.

Affected by steel prices remained low, and foreign steel companies across the days it seems that the more painful – profits continued to decline, more and more losses.

“My steel and steel,” the current statistics present that over the past week, in the household hard metal costs carried on to movement down, this is the tenth following week of descent steel. Plate costs carried on to descent, has been constricted, the largest charge lessening in tons of 100 yuan or less; sultry and chilled turned over to some extent worse costs, the Shanghai market wide hot-rolled wares specifications tons throughout 3080 yuan charge stage consolidation; large tons of material costs in the charge decline of 20 yuan.

And the movement of hard metal costs carried on to plunge in line, the profitability of in the household hard metal financial gatherings are in addition drastically reduced.

The night of April 19, China’s Wuhan Iron and Steel Company portions of foremost iron alloy output in 2008 Annual Report issued in 2009 and the quarter described by the provision for down turn in worth of large supplies, as well as groundwork for the considerable decline in iron alloy demand for the influence of the year in 2008, as well as the presentation of the first quarter of this year, there down turn – 2008 functioning earnings was accomplished 73.339 billion yuan, up 35.41 per hundred development, but down turn as a outcome of provision of supply prepared to 1.645 billion yuan, ascribed to shareholders of recorded businesses snare earnings of 5.189 billion yuan, up 20 per hundred decline. Worse still, the realization of the first quarter 2009 functioning earnings 10.913 billion yuan, up 30 per hundred fall in snare earnings 263 million yuan, up 87.17 per hundred year-on-year decline. Wuhan Steel portions pessimistically state that this year is still hopeful about the general position, the first half of the presentation of the identical time span last year will be down more than 50%.

Prior to this, metal and iron alloy enterprises in China Baoshan Iron & Steel broadcast in 2008 the total earnings was 86.7 billion yuan, up 55.1 per hundred down turn, down more than WISCO.

The worsening in iron alloy market is not only the influence of metal and iron alloy enterprises in China, the worldwide iron alloy monster is furthermore “very injured.”

April 20, Japan’s greatest hard metal financial gatherings Nippon Steel Corporation said that its fiscal 2008 standard yield over the earlier fiscal year is looked frontwards to to shrink by 43%, only 320,000,000,000 (about 3.2 billion U.S. dollars). Than its prediction in January when the 400 billion yen.

Nippon Steel said that the automotive and electric-powered businesses as a effect of greatest customers to extend goods produced of its hard metal end wares carried on to decline. First quarter of this year plunged to the goods produced arrange the company’s past files since the start of the least purpose, only five million tons. Actual goods produced may be inferior, even less than the arrange for more than 300,000 tons.

Earlier in the day, another big South Korean Pohang Iron and Steel Rail said that as of March 31, its last year’s net income fell 68 percent, which is the company since the first quarter of 2001, the largest decline since.

“China’s steel city of the second quarter of difficult to bottom out.” To the flow of iron and steel analyst Productivity Center Rongliang He said that the Chinese steel market after the end of the beginning of the year short-term rebound, prices fell sharply again. At present, the market demand, shrinking exports, while steel production also did not achieve the desired objectives, the overall downturn in steel market. In the global economy is expected to continue downward, the excess iron and steel production under the pressure of the second quarter of the domestic steel market has bottomed out, prices rebounded sharply difficult.

China Steel Association current statistics present that 3 at the end of the in the household composite hard metal charge indicator to 97.59 points, plunged 44.72 points, 31.42 out of 100 decline. China Steel Association in the training of the charge indicator in April 1994 of the composite hard metal charge for 100 points, it is blatant that the integrated hard metal costs have now less than 15 years ago.

“China’s surplus iron alloy capability considerably, the market provide force, more significantly, altered the tendency of the international finances down.” However, Rongliang He said that iron alloy charges have dropped harshly, and charges have fallen to the reduced charges the last cited space small. Steel charges in May in the general enterprise natural environment will be advanced, will go in a somewhat steady time period.