Steel News Roundup (Dec 21)

SHANGHAI, Dec 21 (SMM) - This is a roundup of news in the steel industry for last week.

National Standing Committee: To further adopt market-oriented methods to strengthen financial support for small, medium and micro enterprises

On December 15, Li Keqiang presided over an executive meeting of the State Standing Committee to further deploy market-based approaches to strengthen financial support for small, medium and micro enterprises. The first is to convert deferred principal and interest payment tools for inclusive small and micro enterprise loans into support tools for inclusive small and micro loans. From 2022 to the end of June 2023, the People's Bank of China will provide funds for inclusive small and micro-enterprises and individual industrial and commercial households based on the loans issued by local corporate banks at a rate of 1% of the balance increase to encourage the increase in inclusive small and micro loans. Second, starting from 2022, inclusive small and micro-credit loans will be included in the management of the re-lending support plan for supporting agriculture and small-scale micro-credit. The 400 billion yuan re-loan quota originally used to support inclusive small and micro-credit loans can be used on a rolling basis, and can be increased if necessary. Qualified local corporate banks that issue inclusive small and micro credit loans can apply to the People's Bank of China for re-loan preferential funding support.

Metallurgical Industry Planning and Research Institute: China’s steel consumption is expected to be 954 million mt in 2021, a year-on-year decrease of 4.7%

On December 15, the Metallurgical Industry Planning and Research Institute issued the China's Steel Demand Forecast in 2022, and the comprehensive forecast of China's steel demand in 2021 and 2022 is carried out by adopting the steel consumption coefficient method and the downstream industry consumption method. The total consumption was 954 million mt in 2021, down 4.7% year-on-year; China’s steel demand in 2022 is predicted to be 947 million mt, down 0.7% year-on-year.

National real estate loans continued to grow in November

On December 13, the People's Bank of China released the latest data showing that real estate loans from financial institutions continued to grow. At the end of November 2021, the balance of personal housing loans was 38.1 trillion yuan, an increase of 401.3 billion yuan within the month, an increase of 53.2 billion yuan over October. According to relative authorities and local banks, at the end of November, real estate loans from banking financial institutions increased by more than 200 billion yuan year-on-year. Among them, the balance of personal housing loans increased by more than 110 billion yuan year-on-year, and the development loans increased by more than 90 billion yuan year-on-year. Financial institutions continued to improve their real estate financing.

The flood accident of a coal mine in Xiaoyi, Shanxi: The police have controlled 3 persons involved

According to the “12•15” illegal coal mining case in Xiaoyi City, Shanxi Province, a flood accident has caused people to be trapped in the mine. After preliminary inspections, 22 people were trapped in the well. At present, the rescue work has been fully carried out in accordance plans, and the first water pump has started working. The police has controlled 3 persons involved in the case and is pursuing the mine owners with all their strength.

13 blast furnaces mills and 8 coking companies in Tangshan rated as Category D have been advanced to Category C

In accordance with the requirements of the Hebei Provincial Atmosphere Office, the Municipal Ecological Environment Bureau in Tangshan organised the performance rating of local blast furnaces mills and coking companies according to relative laws and regulations, which has been implemented starting from December 15. When the warning of heavy air pollution is issued, relevant departments shall supervise the enterprises to strictly implement various emergency emission reduction measures. A total of 13 blast furnaces mills and 8 coking companies in Tangshan rated as Category D have been advanced to Category C.

National Development and Reform Commission: 84 fixed asset investment projects were approved in the first 11 months, with a total investment of 707.5 billion yuan

On December 15, Meng Wei, a spokesperson for the National Development and Reform Commission, said that in terms of investment project approval, the National Development and Reform Commission approved 84 fixed asset investment projects from January to November, with a total investment of 757 billion yuan. In November, the Development and Reform Commission approved a total of 14 fixed asset investment projects with a total investment of 261.5 billion yuan, mainly in the fields of transportation, energy, and water conservancy.