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Members of the two sessions talked about iron and steel, speeding up the resolution of overcapacity in the iron and steel industry

In the past two weeks, the work of the "Two Sessions" in various provinces and cities across the country has been held one after another. Sun Zhaohui, a member of the CPPCC National Committee and deputy director of the State Key Laboratory of Comprehensive Utilization of Vanadium and Titanium Resources from Panzhihua Iron and Steel, said in an interview with Xinhua News Agency reporters on the 6th that domestic steel production capacity is severely surplus, and the high price of imported iron ore swallows up the meager profits of steel companies. As a result, China's steel industry as a whole is on the verge of loss, and it is hoped that the country will speed up the resolution of overcapacity in the steel industry.

Industry news

The slowdown in global economic growth, especially the decline in China's demand for iron ore, has seriously dragged down the growth of the iron ore giant BHP Billiton.

Industry news

Domestic Information Experts say the steel market will be stronger than last year: Yu Gang, director of the Iron and Steel Logistics Special Committee of the China Federation of Logistics and Purchasing, said on February 28 that the domestic steel market is expected to perform better in 2013 than last year, but overcapacity will restrict price increases. Yu Steel analyzed that the acceleration of new urbanization this year will stimulate investment and consumption growth, railway infrastructure and real estate investment are expected to accelerate growth, and domestic steel market demand is expected to rebound and maintain a relatively high level. (Source: China News Network) Last year's estimated loss was nearly 4 billion. Maanshan Iron & Steel took over as the "loss king": In 2012, Maanshan Iron & Steel is expected to lose 3.72 billion to 3.95 billion yuan, exceeding the cumulative profit of 2.3 billion yuan from 2008 to 2011. Among them, the loss was more than 1.2 billion yuan in the third quarter alone, which was as high as 8623.6% over the same period last year. It is predicted that in 2013, Maanshan Iron & Steel will become the "loss king" of the steel market. (Source: Your Steel Mesh) International Information Increased investment in India's railway budget in 2013 will boost steel demand: The increase in investment in India's railway budget in 2013 will be very beneficial to boosting steel consumption, and railways are one of the largest steel consumption sectors in India. Increased investment in the railway sector will benefit India's large steel manufacturers such as the Iron and Steel Authority of India. (Source: Metallurgical Exchange Network) Vale’s first quarterly loss in 11 years: On February 27, local time, Vale disclosed that the company’s net profit in 2012 was approximately US$4.86 billion, a 74% drop from 2011. Tianjin Port was the worst performance since 2004. Especially in the fourth quarter of that year, Vale’s net loss of 56.28 was approximately US$2.81 billion, the largest quarterly loss in Vale’s history, which was much higher than the average estimated loss of US$1.27 billion by analysts surveyed by Reuters. (Source: Your Steel Mesh)

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