The contradiction between supply and demand of iron and steel market is remaining a hard nut to crack. The difficult financing and even the negative effect of escaping from debts in Steel trade is closing to the Large state-owned enterprises.
"We can only say there are some flaws in the iron and steel circulation link and the solution of these risks has been paid much attention to, taking an overall measures included."According to the relevant authority in charge of the development of China Minmetals Corporation who said to a report from the national business daily.
The half annals on development of China Minmetals Corporation shows that hundreds of millions accounts due made by some steel traders can not be recalled to a large extent.China Minmetals Corporation ,in one hand,is cooperating other steel enterprise to rejuvenate themselves, on the other hand, China Minmetals Corporation strives to use the means of BLP to have its hard transition to service industry in the gloomy industry background .
The traders have more pression than the steel mills. They have no choice but to transit,analysts said.
Bad loans spring out in Steel trade circle.
Recently, reporters,refer to the half annals on development of China Minmetals Corporation found that companies and other steel trading company has a large number of businesses, from the amount receivable of the top five company, we can see Foshan Shunde Yuanyee Steel Co., Ltd arrears 150 million yuan in the first place, xinjiang ShenPu Beijing iron and steel co., LTD. arrears 112 million yuan in the third position, another iron and steel trading company Beijing mandel international co., LTD., credits 110 million yuan in the fifth place.
It is reported that these loans are receivable accounts whose ages are more than four years, It seems difficult to recalled for the time being.
In addition, in the company "receivables project", the reporter frequently see default and customer bankruptcy case, this company has 140 million yuan to cope with such case; In the "other receivables" provision is 290 million yuan. In advanced received, due to the dispute, in line with the contract cannot be performed.
It is expected that these factors may predict China Minmetals Corporation will still be dragged for a long period time.
For the development situation of China Minmetals Corporation , chief analyst LiuQiuPing shows no surprise: "many steel trade enterprises go into bankrupcy for the rupture of capital chain, which make the forming of the bad debt very normal."
Reporters learned that under the deficits background of the whole iron and steel industry, the capital chain of steel traders becomes more severer for the upstream and downstream double extrusion, and rising financing cost makes mass steel traders crushed . Since the second half of this year, steel traders go into bankruptcies and even escape, which can be searched in various mews frequently. Recently, more than 20 steel trade enterprises even can not be to pay for loans, and eventually are sued by the banks.
Now, these bad debt ,left by the steel trades, have already conducted to large state-owned enterprises by the corporations or small and medium-sized enterprises, China Minmetals Corporation has no exception.
As to the above situation,"We can only say there are some flaws in the iron and steel circulation link and the solution of these risks has been paid much attention to, taking an overall measures included."According to the relevant authority in charge of the development of China Minmetals Corporation who said to a report from the national business daily.
But could the money be eventually recalled? This personage discloses, "how can several hundreds of millions influnce the development of China Minmetals Corporation? Maybe it's subtle, it doomed to be influnential if the money cannot be recalled."
Transition to services.
It is notable that the current operating environment is still relatively severe,though,China Minmetals Corporation can still find a way out.
Recently the authority in China Minmetals Corporation,according to the "daily economic news" reporter when he was interviewed, say that the whole market are stagnant market for the time being
, "the second half of the year,we will try our best to take all kinds of measures to reverse this adverse situation"
Public report shows, on April 10 of this year , China Minmetals Corporation joints 11 steel circulation enterprises to establish "the China iron and steel circulation e alliance", the union both have national state-owned enterprises and local state-owned enterprises, there are also private enterprises and joint ventures. According to the general manager YaoZiPing in China Minmetals Corporation, the company can not only depend on selling products,but have a transition to services.
The crisis of steel trade leads to the several hunreds of millions money delay recalling up to four years of China Minmetals Corporation.
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