By | 2008-03-08 00:00:00

Mr Zhang Xiaogang chairman of China Iron & Steel Association said that China's steel consumption in 2007 would weaken owing to tight macro control, obsolete steel capacities elimination and exports restrictions. It is noted that China goes on exercising sound monetary and fiscal policies this year and curbing fixed assets investment is still among government's major jobs. This will weaken China's steel consumption and growth rate of crude steel consumption is expected to drop to 13% this year. Besides, steel capacities grow slowly whilst obsolete capacities eliminations accelerate. Growth of steel output will fall. New projects will be restricted and capacity will descend notably, following a negative investment growth in steel industry last year. According to related policies, 2007 is the deadline for eliminating below 200 cubic meters blast furnaces, below 20 ton converters and electric furnaces and Chinese government will take strict measures to phase out these capacities. Moreover, steel exports will maintain stable or decline slightly while imports will keep firm. Mr Zhang said that the influences of the above mentioned factors will emerge in the following months. Mr Chen Xianwen an official with market department of China Iron & Steel Association said that growth rate of worldwide demand for steel products will decline as that of world economy slows down. International Iron and Steel Institute forecasts that global steel consumption will add up to 1.179 billion tons in 2007 up by 5.2% YoY, 3.8% lower than a year earlier and on average the consumption will grow 4.9% annually before 2010. International market changes also influence China's steel consumption.

By | 2008-03-08 00:00:00

China's monthly copper imports volume has been descending from the beginning of May. The refined copper imports was 116,700 tons in May which was much less than 186,000 tons in April, while it's 108,100 tons in June which was continuing to descend than that in May. Meanwhile, National Bureau of Statistics published that the accumulated domestic refined copper production is 1,566,200 tons from January to June, increasing by 12.9% over than the previous year. Along with the increase of domestic copper concentrate and waste copper imports in recent several months, it's expected that the rising tendency of domestic copper concentrate production would still keep on moving, which makes the domestic supply much more enough. Moreover, it has been in the low season for the Refrigeration and Air Conditioning Industry to use copper, which aggravates the situation of domestic copper oversupply. Although LME copper stock stand in a lower level at the moment, the future China's imports decrease is possible to bring strong stress to the copper price.  www.chinafastener.com  

By | 2008-03-08 00:00:00

China is likely to ink mega import deals, possibly amounting to $12 billion, with the United States during the second Sino-US strategic economic dialogue next month, in a move to narrow the trade gap. The talks, which will be co-chaired by Vice-Premier Wu Yi and US Treasury Secretary Henry Paulson, are the highest-profile dialogue mechanism over economic issues between the two. The proposed procurement delegation is likely to be led by Vice-Minister of Commerce Ma Xiuhong, covering a wide range of US agricultural and industrial products, from soybean and cotton manufacturing machinery to electronic products. The delegation will visit Atlanta, Chicago, San Francisco and Washington. Though there's no official word on the possible procurement spree, if it does materialize, it will be seen as the latest move by China to cut its trade surplus with the US that totaled over $144 billion in 2006. This round of Sino-US dialogue is expected to be tense as the US government has just referred China to the World Trade Organization (WTO) over intellectual property right issues and for allegedly restricting distribution of foreign music, films and books. Chinese enterprises last year signed about $16 billion in import deals with their US counterparts on products ranging from soybean to aircraft during President Hu Jintao's visit to the US. These organized procurements reflect China's intention to address the trade imbalance, said Zhang Liping, a researcher with the Chinese Academy of Social Sciences. But some experts argued the proposed procurement would only have a short-term impact on the Sino-US trade gap. In order to pursue a more balanced trade with some key trade partners like the US, the Chinese government has been encouraging imports. Wang Xinpei, spokesman for the Ministry of Commerce, last week said China was studying more means to enlarge imports

By | 2008-03-06 00:00:00

China strongly opposed the U.S. decision to launch dual trade investigations into its steel tubes, the Ministry of Commerce (MOC) said late on Friday. The U.S. Department of Commerce decided on Feb. 20 to initiate anti-subsidy and anti-dumping probe into imports of circular welded austenitic stainless pressure pipes from China. This is first dual probe the U.S. launched against Chinese imports this year, lifting the total to nine since November 2006. The use of anti-dumping and anti-subsidy measures violated U.S. rules and the tradition of not adopting anti-subsidy measures against non-market economies, the MOC spokesman said in a statement. "The move is unwise and wrong as it will not help to develop mutually beneficial, harmonious and healthy Sino-U.S. trade relations and will even complicate the normal bilateral trade relations," the statement said. "The ruling has greatly hurt the interests and feelings of Chinese industry and we hope the U.S. will soon correct the mistake to avoid negative influence." China reserved its legal rights as a World Trade Organization (WTO) member, the spokesman added.

By | 2008-03-05 00:00:00

According to Economic Council of Inner Mongolia Autonomous Region, while implementing the policy of quota production for ferro alloy and calcium carbide industries, Inner Mongolia Autonomous Region plans to expand much more outdated capacities in these industries. Basing on the rich resources like coal,  silica and iron and so on, Inner Mongolia has become an important production and export base of ferro alloy and calcium carbide and so on since 2000. But these industries have high energy consumption and high pollution, with a ton of calcium carbide consuming 3,000 KWH of electricity, and a ton of ferro alloy consuming several thousand KWH of electricity, while pulls out a lot of waste gas and dusts, having a big effect on the environment. Therefore, the Inner Mongolia government took measures to limit the output of calcium carbide to 5.00 million tons and that of ferro alloy to 3.00 million tons in 2007. The company who used up the quota will be cut off electricity supply, and no quota to these higher energy consuming and pollution companies. Meanwhile, fifty-seven ferro alloy producers and five calcium carbide producers were forced to stop production in 2007, with the demolished capacities totaled 270,000 tons and 100,000 tons respectively. To boost the energy saving and emission decreasing, Inner Mongolia Autonomous Region plans to demolish 1.00 million tons of ferro alloy capacity and 2.00 million tons of calcium carbide capacity during the "11th Five" period, up from 600,000 tons and 1.20 million tons. In 2008, local government targets at demolishing capacities of ferro alloy and calcium 600,000 tons and 200,000 tons respectively in 2008.

By | 2008-03-04 00:00:00

It is reported that China's steel prices in the domestic market has surged up by an average of CNY 200 per tonne to CNY 300 per tonne for majority varieties or more than that for some others after Chinese spring festival. The movement of price in shanghai market are as follows Products Feb 1st, 08 Feb 22nd, 08 Change Wire rod 6.5mm common 4280 4800 12.15% Wire rod 6.5mm high speed 4480 4840 8.03% Rebar 12mm 4500 4830 7.30% CR sheet 1.0mm coil 5700 6230 9.29% HRC 3.0mm 4970 5250 5.63% Galvanized steel 0.5mm 5900 6350 7.63% Carbon medium plate 6.0mm 6050 6480 7.11% Angle 4*40mm 4650 4880 4.95% (In CNY) As per report during the Chinese holiday steel products in Shanghai recorded rarely seen wide price gains and given close bearing between market price and the steelmakers' price policy works price later February 2008 is likely to boost the market up further.

By | 2008-02-29 00:00:00

According to the data from Shanxi Province, in 2007, 19 products from Shanxi Province have an export value of more than 100 million US dollars, increasing from 9 in 2006, and 3 in 2002. Among them, steel is the single product with highest export value.   According to the statistics, Shanxi had an export value of more than 10.0 billion US Dollars for the first time in 2007, to 11.58 billion US dollars, up 74.59% from that of 2006. And the destinations covered 174 countries and areas, up by 38 from that of 2002, with 50 involving a value more than US $10 million. USA, Japan and South Korea took the first three positions.   Meanwhile, Shanxi Province is changing from a resource supplier to a industrial products production base.

By | 2008-02-27 00:00:00

Recently, Alashankou issued certifications of decreasing/exempting import taxes of an import deal of Russian iron ore fines. The deal contained 15,000 tons of Russian iron ore fines, which valued 1.89 million US dollars. This is the first import of Russian fines from Alashankou.  It is said that a company has signed an import deal of 250,000 tons iron ore fines in total, which values more than 30 million US dollars. The imported fines has an iron content of 65.5%, 2.5 percent higher than pellet, and the unit price is 126 US dollars per ton, US$ 29 lower than that of fines from Kazakhstan and US$ 35 higher than that of pellet. It is reported that the foreign fines sale is highly concentrated, and even was prohibited in the past two years.   Iron ore fines are made from raw iron ores, which was through crushing, grinding and concentration and other processes.

By | 2007-09-14 00:00:00

Recently, China thread steel sells at 470,000 WON/ton in Korean market, 10,000 WON/ton higher than last week. At the end of February, China thread steel sold at 450,000 to 470,000 WON/ton, 20,000 WON/ton higher than last week. Thread steel from Japan is 20,000 WON/ton higher than that from China. December 2006, China thread steel sold at 410,000 WON/ton. However, since 2007, the price has kept growing every week. The current price is 40,000 to 50,000 WON/ton higher than the beginning of this year. The climb of imported thread steel in sales price is attributed to the persistent increase of imported price. Since March, the sales price has growth as much as 30,000 WON/ton overnight. Furthermore, it is difficult for Korean construction companies to directly import China thread steel due to China's tense stock. The D10MM China thread steel is now quoted CFR USD460/ton when exported to Korea, an increase of 20 US dollars compared with last week.

By | 2007-05-21 00:00:00

Guangzhou Zhengyi Hardware Screwdriver Products Factory, located in Lifeng Industrial Zone, Huadu District, Guangzhou City, was founded in 1996.The factory mainly produce matching screwdriver whose corn products are standard screwdriver, stainless fastener, electronic fastener, English-standard fasteners, standard meson. All products are export to Europe and American. Love the Job That You Do At the beginning of 1990s, started from a fastener apprentice, Wang Baisong left to Guangdong Province to create his career. Under his leader, Guangzhou Zhengyi Hardware Screwdriver Products Factory becomes a large-scale, variety complete and quality products company after 11 years' hard-working. Now the turnover of the company is 10 million Yuan per year, which is 10 times of past time. The products are mainly export to Europe, American and Taiwan region and so on. Entering the office, the clean office-desk, and the book on fastener industry are displaying in bookcases. From the window, the works are working intensely and orderly, 40 machines are operating, a little screwdriver should be produced from raw material only several seconds. The automatic line is developed by the factory itself. "We can save 50 percent human resource because of the line." Mr. Wang said with a pride. Wang Baisong, is from Guangyuan, Sichuan Province. He loves traveling and sporting, and looks honest and straight. The person who made success is not born from genius but by indomitable ambition, that is the motto of Wang Baisong. With the spirit of indomitable willing and social responsibility, Wang Baisong lead his company overcame all kinds of difficulties and made progress. Survive by At the beginning of venture, Wang Baisong was troubled by the difficulties of company. Few employees, much financial difficulties, Wang Baisong had to borrow money to raise funds. Guangzhou Zhengyi Hardware Screwdriver Products Factory was founded by the supporting of friends. At the second half of 2004, the price of raw material raised from 3,800 Yuan/ton to 5,800 Yuan/ ton. The overseas customers' needs for fastener are high, the products should be environment-protected, lead and titanium contents should not exceed and company must past SGS certification. Wang Baisong also was upset by the difficulties of company running such as how to improve the products quality, how to control the cost of products, how to talk the prices with customers and how to manage the company and so on. The company was ever facing crisis. Wang Baisong was never weakening his willing. Skilled workers were invited to his company, and Wang Baisong himself also took a course of enterprises management. Products technology improved, advanced fasteners can be produced, and the customers increased. Company began to its right tracks. Honesty First, Quality First "Quality products, inexpensive price" that is our purpose for customers. In order to adapt to the needs of international market, Wang Baisong with his staffs continuing improve the products quality, control the cost of products, and develop the products with the customers' demands. After several years' development, Zhengyi has been entering Taiwan market and overseas market. Wang Baisong also told his planning of the next few years to our journalist. He said that he will continue develop his company and improve his staffs' life conditions and welfare. To create a famous brand in fastener industry is his purpose, and he believes that he will make greater progress by innovation, hard-working, union and thinking.