China Steel Association: To Promote The Steel Industry To The Lever Into The Fast Lane

China Steel Association: To Promote The Steel Industry To The Lever Into The Fast Lane

Date:May 03, 2017

     China Steel Association executive vice president of Gu Jianguo said that the first quarter of 2017, 

the steel industry benefits are good, on the one hand is the effect of steel production capacity to

 continue to reflect, on the other hand is to clear the "land steel" brought expected The.

     In accordance with the capacity to deploy, this year on June 30, the national "land steel" capacity to 

completely clear out. China Metallurgical Association Vice President Chi Jingdong said that according 

to the current summary of the data, the provinces and autonomous regions have cleared the "Land

 Steel" enterprises a total of more than 500, involving production capacity of 119 million tons.

     "However, the removal of the bar will not bring long steel, especially the shortage of rebar." In this 

regard, Gu Jianguo pointed out that "land steel" production capacity is high, but the actual output is

 not so much. Need to be clear that the fundamentals of iron and steel production is not completely 

changed, there is no fundamental out of the woods, the industry or to unswervingly to the production 

capacity, to leverage, cohesion seek transformation, and strive to maintain a stable operation of the 


      Gu Jianguo stressed that this year's overall tone is steady progress, to work is still on the road, while 

the intensity of environmental protection law enforcement continued to strengthen, so the steel 

market should not appear steel prices cliff-style down. But as a large enterprise, the regional backbone

enterprises in the price should be determined, in the production of orders on the organization, no 

orders do not produce.

       In terms of leverage, Gu Jianguo introduction, the steel industry is heavy assets, as of the end of March 

2017, member enterprises total assets of 48728.47 billion yuan, total liabilities of 3409.99 billion yuan,

debt ratio of 69.97%. At the same time the industry's high financial costs, liquidity ratio, quick ratio, 

fixed assets depreciation level in the lower limit.

       Gu Jianguo said that on the one hand, many people, the burden of heavy pattern still can not be 

fundamentally resolved, on the other hand, some companies and even the debt burden continues to 

intensify the trend. Therefore, for 2017, the main work of China's steel is to unswervingly promote the 

dissolution of steel excess capacity, to promote the steel industry to the lever into the fast lane, do 

everything possible to stabilize the operation, more measures and create a benefit.

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