The expected decline in economic growth triggered by continued monetary tightening measures has begun to affect the prosperity of China's steel and some non-ferrous industries. China Nonferrous Network. According to news from relevant parties, the overall purchasing enthusiasm of the steel industry has dropped significantly since entering June, and the country's iron ore stocks have reached record highs. At the same time, the non-ferrous metals industry is also facing another round of tests. The steel industry boom has declined. The steel industry has a downturn and is very prominent in iron ore inventory. As one of the leading indicators of the operation of the steel industry, iron ore port stocks have been climbing recently, and the current situation of ore pressure is already very serious. Baosteel's original dedicated Luojing ore terminal yard was even leased to some ore traders to pile up iron ore that could not be sold in time. An iron ore terminal logistics supplier told reporters that the mines in Australia and Brazil are still shipping at the normal pace of the agreed purchases, but the speed of picking up the steel mills has been significantly slower than the arrival speed of the ore. Some ore has passed the free storage period, but steel mills prefer to pay for material stacking per ton per day, and are reluctant to pick up the goods in time. This shows that steel mills' purchasing desires are tending to be conservative. Throughout the country, after entering June, the total inventory of iron ore in the national ports exceeded 90 million tons, the highest level in history. At present, the port of the northern port is the most serious. According to the data held by the newspaper, the three major ore terminals of Qingdao Port, Rizhao Port (600017) and Caofeidian have inventory levels of 13.8 million tons, 14.1 million tons and 10 million tons, respectively, all setting a historical record. The slowdown of ore pressure and the speed of delivery have proved that the steel mill's production plan is slowing down in the later period, which is also the early indicator of the decline in the steel industry's prosperity. Industry insiders analyzed that with the effect of macroeconomic tightening in the first half of the year, steel mills' orders fell, capital pressures increased, coupled with the current rainy season and future high temperature weather, the industry will enter the traditional off-season, and short-term demand will face further pressure. Under the dual factors, the steel industry began to show a weak operating situation. For the steel market in the second half of the year, the only point of view is the pace of construction of affordable housing projects. According to Sheng Zhicheng, assistant general manager of Xiben Shinkansen E-Commerce Co., Ltd., from the current policy orientation, it is possible to comprehensively speed up the construction of affordable housing in the third quarter. At that time, market demand is expected to increase in stages. However, the obvious pulling effect may not occur until August and September. Non-ferrous industry funds are tight. Another macro-economic sensitive industry, the non-ferrous metals industry also has signs of a decline in the economy. In particular, the non-ferrous metals industry represented by copper continues to be under pressure. Most copper processing companies said that the downstream demand is unclear, and the pressure on the capital chain is large, which is optimistic about the future prospects. Some copper processing companies said that although the overall operation of the non-ferrous industry is still normal, the tight capital chain brought by the tightening policy, and the subsequent decline in orders and the overall destocking process are becoming the industry's continuous "tangled". "The problem. “The high capital pressure and high copper prices make us more cautious when purchasing electrolytic copper raw materials, and we will sell them on a regular basis and purchase them on demand. The same is true for our downstream.†The marketing manager of a precision copper plate production enterprise in Xinxiang, Henan, told reporters. The industry is experiencing an overall “destocking†process. As the macroeconomic trend tends to be cautious, and the copper price has always fluctuated at a high level, all links in the industrial chain are implementing a low inventory strategy and no more stocking. "We are not very optimistic about the late copper price," he said. The cautiousness of copper processing companies has also affected their upstream smelting companies. Tongling Nonferrous (000630) executives said in an interview that the austerity policy has caused most companies to raise their financial costs, and the turnover is not working, so that copper processing companies can not purchase more raw materials when prices are relatively low. And related people in Shandong Yanggu Xiangguang Copper said that enterprises are now reducing costs and keeping profits through technological innovation and spending cuts. In addition to the copper industry, tin smelting and processing enterprises have also reported to reporters a few days ago that downstream companies have begun to refuse to sign long-term orders, instead of fine-grained, decomposed and on-demand purchases. The order situation is showing obvious small batch and multi-batch characteristics. This is clearly a precursor to the decline in the industry.
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