Some Tangshan Steel Mills to Go Bust on Continuous Price Falls

Dec 23, 2014 10:03

Source:SMM

Some Chinese steel mills are expected at the brink of bankruptcy due to continuous price losses and tight year-end liquidity, Shanghai Metals Market’s ferrous branch Steelease learns.

SHANGHAI, Dec. 23 (SMM) – Some Chinese steel mills are expected at the brink of bankruptcy due to continuous price losses and tight year-end liquidity, Shanghai Metals Market’s ferrous branch Steelease learns.

Prices of common steel billet fell 50 yuan to 2,150 yuan per tonne (including tax, ex-works prices) in Tangshan, Hebei Province on Dec. 22, registering a total decline of 280 yuan since Dec. 1, according to Steelease data.

Market players generally expect price losses to be continuing as the end of winter stocks replenishment and year-end cash crunch will significantly reduce steel demand.

Besides, current prices leave almost all steel mills in red, as the 2,200-yuan mark is the lowest cost level for local mills. Losses at steel mills in Tangshan are now expected to range 50-130 yuan per tonne.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

China steel price

china steel production

Steelease survey

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Some Tangshan Steel Mills to Go Bust on Continuous Price Falls

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit