Moody's, an international rating agency, said that due to the slowdown in production capacity and the increase in blast furnace utilization, the profits of large steel mills in Asia will increase slightly in 2015.
Moody's analyst Jiming Zou said: "We believe steel mill profits have bottomed out and will pick up in 2015. Steel demand growth is about 3%, exceeding net capacity growth rate. Raw material costs will also have a certain impact on steel mill profits. Supporting role."
Many analysts expect iron ore prices to be at the level of 50-70 US dollars / ton next year, and the global steel mill production costs are greatly reduced.
Steel mills like China's Baosteel will increase their profits slightly, and their market share will further expand. As the Chinese government is determined to remove excess capacity, many small steel mills continue to close down.
Moody's said that Japan's Nissin and Gold (NSSMC) and JFE Steel will benefit from other Asian steel mills because of the growth of Japan's domestic economy. South Korea's Posco and Hyundai Steel's profits will increase as capacity increases, and Posco's non-steel industry will also benefit a lot.
India's JSW Steel, the Indian Steel Authority and Tata Steel's steel capacity and capacity utilization are constantly increasing, so its profits will also be pushed up.
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