The iron and steel industry restructuring rumors reproduction shaking administrative division multiple problems into several "natural moat"
21shijijingjibaodao· 2016-08-03 05:45:32
"from a policy perspective, this integration trend is possible, but from the perspective of the market, is not necessarily a good. August 2nd, China's chief analyst at the joint network of iron and steel Hu Yanping on twenty-first Century economic news reporter said so. She said that the previous day there are media reports that China may follow the establishment of the south, North car group way, set up in southern China and Northern Steel group.
according to Bloomberg quoted sources said the southern Steel Group will be the current restructuring of Baosteel Group and Wuhan Iron and steel group. At the same time, also plans to merge with the steel group, Shougang Group, the creation of the northern steel group. Baosteel, Wuhan Iron and steel assets will be injected into the Baosteel entity, into shares of the company under the flag of South South steel iron and Steel Group, non steel assets of the two companies will be injected into the Wuhan Iron and steel group entity, become the South South's iron and steel industry company.
in this regard, the above mentioned 4 iron and steel enterprises have that knowledge, and many industry insiders also said not heard, Bloomberg also said in the manuscript, the plan has not been finalized, there may be variables.
but in the current reform of state-owned enterprises and iron and steel production capacity to the background, do not rule out the national level will have this kind of consideration, but through mergers and acquisitions to capacity, the current iron and steel industry, the effect may not be obvious. "Hu Yanping said, at present Chinese iron and steel industry, the proportion of state-owned enterprises is relatively high, the country can promote mergers and acquisitions are mainly concentrated in the state level, but requires the elimination of excess capacity mainly concentrated in small and medium-sized private enterprises, part of the national administrative power can not be implemented, that is to say, if you want to achieve real productivity objective through mergers and acquisitions, the implementation of the difficulty a little big.
Shougang steel merger difficult
Baosteel and Wuhan Iron and steel restructuring is a foregone conclusion, at present, the two sides further restructuring plan is still in the specific planning, the news has not been released. The news is not the first time in the industry, Shougang and River steel spread.
in the last round of the reform process of state-owned enterprises, Hebei iron and steel industry restructuring process, he had tried to merge the river steel. "The other one steel industry source said, but between the difficulty of integration is too big, it eventually die.
Shougang and River steel merger difficulty is mainly concentrated in the interests of the parties involved may not be consistent with the interests of the demands. My steel net analyst Xu Xiangchun said, Baosteel and Wuhan Iron and steel are central enterprises, is a unified system, a lot of problems easier to solve, but the river steel belonging to the Hebei provincial government, Shougang belonging to the Beijing municipal government, the relationship between the two governments need a higher level of administrative means to adjust, in addition, the level of management and technology the level of Shougang is relatively high, and the river steel scale and Shougang than larger, how to merge between the two, how to balance the absorption in the management, but also problems encountered in the process of merger.
building materials in large network senior analyst Zhang Lin also agreed. Zhang Lin believes that in the process of the merger and reorganization of steel prices, mainly involves the distribution of interests segmentation and internal management including government and enterprises on the subject, "when the family is different, different development strategy for planning purposes of enterprises, restructuring of the difficulty is very big. "
but under the impetus of administrative power, the possibility of the establishment of the north and South Steel Group is not without. "The future needs to look at how the policy and government levels to promote. "The industry has said so.
industry may not be good for
2015 years the world's top 25 steel crude steel production and ranking statistics show that in Chinese, River steel industry ranked first, production reached 47 million 800 thousand tons, Baosteel Group ranked second, output of 34 million 900 thousand tons, Shougang output reached 28 million 600 thousand tons, ranked fifth, Wuhan Iron and steel production was 25 million 800 thousand tons, ranked sixth.
if the legend of the South and North Steel Group was established, the newly established Northern Steel Group production will reach 76 million 400 thousand tons, the establishment of the South Steel Group production will reach 60 million 700 thousand tons, two in the world rankings ranked second and third respectively. After the merger of the two
, the concentration of the steel industry to enhance the doubt. 2015, China ranked the top five industry concentration of about 22%, ranking the top ten steel enterprises crude steel production totaled 2.75 tons, industrial concentration of 34.2%. Xu Xiangchun said that if the two major iron and steel group was established, the above two sets of data will be raised to about 27% and close to 40%, the rapid increase in industry concentration. This can reduce the homogenization of competition among steel enterprises, to avoid the same industry enterprises in the equipment and technical aspects of the repeated input.
in this regard, Zhang Lin also said that the increase in industry concentration, competition mechanism can change the current a steel enterprises a quotation, the formation of uniform pricing mechanism, the market may even return to a product at a certain price of steel prices to determine the possibility of price. In this way,
can also avoid trade friction. "Zhang Lin said, the process of China foreign enterprises to go out, the prices of steel products is very low, the domestic counterparts of the low price competition is very intense, also attracted the anti-dumping in foreign, but if the formation of uniform pricing mechanism, reduce domestic competition, to Chinese steel enterprises going out. However, the drawbacks of the degree of concentration is a single enterprise in the market after the voice of the increase, the steel may appear a certain degree of rise.
part of the product will also increase the concentration of. Hu Yanping believe that the concentration of sheet products will be the first to improve, the current Chinese large steel prices mainly produce plate products, while the production of small and medium steel prices are mainly construction steel and other products. "Hu Yanping explained, and the advantage of product of these four companies are currently board, their voice in a single product increase, steel enterprises can do to adjust production capacity and production rhythm and timely according to the market situation, to the current steel prices turnaround".
to the production capacity is difficult to effectively
no matter how difficult, from the national level, the merger and reorganization of China's steel industry is a way to capacity. The industry said that at present, most of China's excess capacity in the industry, are required to adjust the industrial structure through mergers and acquisitions, bigger and stronger China related industries.
but the measure is unlikely to succeed in the steel industry. Hu Yanping believes that the current China for iron and steel industry structural adjustment implementation level there is no clear idea of whether the restructuring of Baosteel and Wuhan Iron and steel, and now rumors established two iron and Steel Group, all countries in the field of steel practice reform pilot countries hope that through mergers and acquisitions to explore, the formation of China steel industry enterprises the reform of the sample, and then to promote the success of the pilot to be.
, Deputy Minister of industry and information technology Feng Fei in the office of the state conference said, according to preliminary statistics, the first half of this year, China's steel production capacity to reach about 13000000 tons this year, only about 30% of the target task.
in fact, before the reform, Chinese has been through mergers and acquisitions by way of a round of restructuring, Hu Yanping said: "from the actual performance, in addition to the integration of the province river steel the relative success of several steel enterprises, other trans regional reorganization basically without success. "
as the central enterprises, in response to the national policy process to the production capacity, the general implementation in place, and the capacity to advance slower is mainly accounted for more than half of private enterprises and some zombie companies, this part of the enterprise, through the administrative force to solve the possibility and.
, a research report at the Renmin University of China, the steel industry's Zombie enterprises accounted for 51.4%, the highest proportion in all the research industry.
"rely on mergers and acquisitions to carry out the possibility of large-scale production transfer is not large. "Xu Xiangchun also believes that in recent years, most of the large iron and steel enterprise technology upgrading, enterprise equipment and products are also very advanced, these companies do not belong to the backward production capacity, through mergers and acquisitions, this capacity is not directly shut down the reality, and close to large-scale production equipment, production arrangement, personnel placement, great difficulty.
another way of thinking is to continue to eliminate backward small and medium-sized steel enterprises through mergers and acquisitions. Steel belongs to asset heavy industries, Hu Yanping think, whether it is a large-scale production or close mergers and acquisitions of small and medium-sized enterprises can have strong financial strength, but the current iron and steel industry has not been thoroughly warmed up, the enterprise's own financial strength is limited, the short term is difficult to reach to the possibility of further consolidation.
(Editor: Li Qingyu, email: firstname.lastname@example.org)
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