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Although subject to high costs, the current profitability of steel mills due to exports has not increased significantly. Industry analysts believe that exports are expected to become opportunities to expand the profitability of steel mills.
Export situation is improving
A number of steel mills recently told this reporter that the current export situation is improving, orders in January began to grow, and the growth trend is expected to continue for some time. Among them, the Australian flood has become an important cause.
“Because of the flooding in Queensland, Australia, coking coal is restricted, the smelting raw materials of Japanese and Korean steel mills have been threatened and production is limited.†Jiangsu Shagang, the largest private steel company in China, recently told the newspaper that Australian coking coal accounts for global coking. 64% of the coal trade volume, because the coking coal of Japan and South Korea steel mills rely more on imports from Australia, this continued flood has already had a major impact on its production. As raw material stocks are not enough to support full-load production, Japanese and Korean steel mills are no longer able to meet the needs of the original international market, and Chinese steel mills can temporarily make up for this market vacancy.
At the same time as the export volume increased, the export price of steel also showed a significant increase. The data shows that in January this year, the export price of major hot coil mills increased significantly. Among them, the mainstream export price of boron-containing hot coils was 670-680 US dollars/ton, which was an increase of 60-70 US dollars/ton from the beginning of last month, and increased by 40-50 US dollars/ton compared with the end of December. Export offers for some plate and profile and wire mills also showed an upward trend.
"At present, international steel prices are in a collective upward channel, and some varieties have already sold at higher prices than domestic ones. This has stimulated steel exports to a certain extent."
Industry profit has the possibility of improvement
However, although the export volume and price have risen, many steel mills said in an interview that the price increase is mainly due to the increase in raw material costs.
Anshan Iron and Steel Group marketing department told reporters that Angang's exports in January did improve, but as the price of mining continued to climb, so far, earnings have not actually improved significantly.
There are still rumors in the market yesterday. The Ministry of Finance, the National Development and Reform Commission, the Ministry of Commerce and other departments are studying to further strengthen the export restrictions on the "two high and one capital" products, and intend to reduce and cancel the export tax rebate for some products. Products that may be involved include steel, non-ferrous metals, rubber, construction materials, etc. In this regard, the industry insiders told reporters that since the export tax rebate for most steel products has been canceled in July last year, even if the rumors are cancelled again, the impact on the industry is not obvious. In addition, according to the industry, although some tax rebates were cancelled last year, most steel mills can also enjoy tax rebates in the form of ferroalloys without impairing product performance by adding boron to the steel.
Qi Hui, a steel analyst at Qilu Securities, believes that the process of converting steel prices into profit is difficult and requires a shortage of smelting capacity. "In terms of current capacity utilization rate, it is not enough to produce a qualitative conversion. However, considering the seasonal growth of domestic demand in the future and the opening of external demand, there is a possibility of improvement in the profit of the steel industry in the later period. Baosteel, Anshan Iron and Steel, Maanshan Iron and Steel, etc. Plate companies that have benefited from reduced production are expected to benefit."
Steel export orders recovery steel mill profit margin is expected to expand
There are indications that the export orders of Chinese steel mills are recovering, and the volume and price are on the rise.