This year, the domino effect caused by the soaring iron ore prices is affecting “Made in Chinaâ€. In the first time when the price of iron ore rose, the stock prices of Baosteel and Shougang fell first, and the entire Shanghai stock market fell below 1300 points. The Chinese manufacturing industry, which is heavily dependent on iron ore as its raw material material, sighed.
The industries most affected by the rise in iron ore and steel prices are shipbuilding, machinery, automotive and home appliances.
Shipbuilding industry:
At the beginning of the year, the biggest difficulty faced by the entire shipbuilding industry was the increase in raw material prices. Since the shipbuilding companies' shipbuilding orders were usually established two years ago, as early as the end of 2003, the international market for marine steel plate prices averaged only 280 US dollars to 300 US dollars / ton, "the orders signed at that time is obviously a profit However, by the beginning of this year, steel prices have been flying all the way to 765 US dollars / ton, the situation of shipbuilding enterprises suddenly became tragic." Lange Steel Information Research Center, Ma Zhongpu that: "The proportion of steel in its raw materials as high More than 70%."
Machinery manufacturing:
The machinery manufacturing industry is also complaining about the price hike of steel products. The industry's profit rate has dropped sharply compared with the previous two years. The most urgently needed domestic high-value-added, high-tech steel products for domestic machinery companies, domestic steel companies can only produce a small part, some varieties are not even, and manufacturing companies have to pay a greater price to purchase foreign steel products. Ma Zhongpu analysis: "Products with low technological content will be eliminated."
Automotive industry:
For the automotive industry, the cost of steel is less than 20%. However, vehicle manufacturers believe that the fluctuation of steel prices will be mainly digested by component manufacturers. The competition among domestic component suppliers has long been intensified, and the increase in steel prices undoubtedly gave them a blow.
Appliance industry:
Steel prices account for about 20% to 30% of the variable costs of the household appliance industry. If there is no capacity to transfer risk, if the upstream steel sheet price rises by 10%, the household electrical appliance industry's net profit rate may fall by 2%. The household electrical appliance industry, which originally had low profits, has a greater impact. Especially for companies that are expanding at a low cost, low price strategy, the days are very sad.
However, the prediction that “the cost pressure of manufacturing companies will increase†has not been realized. The situation has been reversed due to excess capacity of steel products. From the end of the year to the end of the year, domestic steel prices plummeted to the bottom line and the manufacturing industry revived. Former president of the Iron and Steel Industry Association, Wu Xilu, first shakes up the olive branch in the manufacturing industry. In the case of excess steel production capacity, he hopes to drive the sales of steel products by increasing exports of electromechanical products. In this way, China's manufacturing industry “has felt two bad days in the year.â€
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