|
|
|
| NEWS |
|
|
|
| Welcome to Wanjoo Metals |
HOME > CUSTOMER CENTER > NEWS |
|
|
|
|
| TITLE |
Recession reports - Chinese SBQ steel market under crisis |
| WRITER |
administrator |
DATE |
2009-12-26 10:20:07 |
|
|
|
Recession reports - Chinese SBQ steel market under crisis
25 Dec 2009
The earth shaking financial crisis attacked every field in the world leading to the sharp decline in global economy, due to which shipbuilding industry suffered unprecedented hit and shipbuilding steel market underwent serious infection. Expects analyses the causes to the injured shipbuilding steel market in China.
First, Ship yards processing de stocking, offered fewer orders to mills. The high social stockpile of ship plate was the main reason to that China produced less than expected ship plates. Ship plate price presented strong upward tendency before October 2008. Many Shipbuilders made advanced purchasing to reduce their cost and traders stocked up products to hunt more profits. Then, the market experienced a long time de-stocking amid the poor demand.
Secondly, Korea’s demand of ship plate shrunk, resulting in big decline in ship plate export in China. Due to the financial crisis, some of Korea’s ship orders were suspended or cancelled, making the country reduce ship plate import. In addition, the self-produced products substituted some imported products from China, further hurting China’s output.
Thirdly a part of small shipbuilders in Zhejiang, Jiangsu and Shandong shut down or reduced their production, decreasing the demand of shipbuilding steel. A lot of small shipbuilders broke down in the global crisis and their demand of steel disappeared accordingly.
Fourthly, the number of converted ship went down largely, posing less steel demand. Repair yards even bore much worse situation than ship yards in the crisis, also giving out less demand.
Fifthly, Ship subsection building yards’ production fell, especially for Korea-invested yards.
Last, Ship owners gave up or put off some orders signed with China’s ship yards, due to the continuously desperate shipping market. The financial turmoil beat shipping market heavily, ship owners asked frequently to cancel orders or delay the delivery. And they, in low water, made rigorous requirements on price and quality to shipbuilders, pushing risks to shipbuilders. At last, shipbuilders scanted their buying in steel market.
Resourced from www.Mysteel.net |
|
|
|
|
|
|
| [ L I S T ] |
|
|
|
|
|
|
|
|
|
|
|
|
WanJoo Metals All rights reserved. |
|
TEL : +82-2-585-2581, 2571, FAX : +82-2-585-2587, 8799 |
|
FL.2 DaedeokPlaza Bldg, 206, Geumgok-Dong, Bundang-Gu, Seongnam-Si, Gyeonggi-Do 463-480, Korea |
|
|
|
|
|
|
|
|
|
|
|
|
