国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
China
Home / China / Business

Banks call in loans to troubled steel sector

By Du Juan | China Daily | Updated: 2014-05-27 07:12

China's steel industry will face higher financial risks in the second quarter in addition to its existing bad debts, experts say.

The credit woes in steel production are likely to bring funding risks in iron ore trading, according to Beijing-based Lange Steel Information Research Center.

Xu Liying, of the research center, said financial risks have extended from steel trading to such commodities as iron ore because of the tight liquidity of domestic steel companies.

Zhao Xizi, chairman of the All-China Chamber of Commerce for Small and Medium-Sized Metallurgical Enterprises, said at an industrial forum earlier this month that banks have started to ask steel companies to pay back loans before their due date is up.

He said banks will require at least 140 billion yuan ($22.5 billion) of debt to be paid back by the steel companies ahead of schedule.

Due to overcapacity and ongoing losses, many steel mills chose to keep production simply in order to keep banks from asking them to repay their loans.

Industrial analysts said domestic steel companies have an average debt ratio of more than 70 percent and that banks asking for loans to be paid back ahead of schedule is driven by policies rather than shortage of cash.

According to Lange Steel, China's real estate sector will continue to drop in the second quarter, as manufacturing struggles to stay afloat.

The golden age of large-scale infrastructure construction guided by the central government is over.

"All those factors will lead to less demand in steel's downstream markets," Lange reported. "Listed steel companies' profitability is expected to stay low in the second quarter."

In the first quarter, 15 of 35 listed steel companies in China reported deficits.

Lange Steel said weak demand and rising inventories have worsened the companies' cash flow. And such financial reasons as "bad debts and higher loan rates" will also affect cash flow, the report said.

Zhang Changfu, vice-chairman of the China Iron and Steel Association, said during an earlier news conference that banks have put the steel sector on a list of high-risk industries that will find it hard to get loans.

Nevertheless, China's crude steel output still increased in the first three months, up 2.37 percent year-on-year, to 202.7 million metric tons.

dujuan@chinadaily.com.cn

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
福建省| 咸宁市| 荔浦县| 浦北县| 扶沟县| 涟水县| 吐鲁番市| 米林县| 黄冈市| 梅河口市| 呼图壁县| 钟山县| 达拉特旗| 宣化县| 璧山县| 肥西县| 改则县| 宿州市| 都匀市| 大庆市| 巫溪县| 永清县| 竹溪县| 屯门区| 宣城市| 六盘水市| 江西省| 工布江达县| 奉节县| 探索| 象山县| 五华县| 阿瓦提县| 寿宁县| 綦江县| 西城区| 奉化市| 双牌县| 当雄县| 大港区| 北票市|