Look at boom iron and steel in the second half of the year steel chairman Song Zhiyu optimistic about the, he said that at the beginning of this year since with the international steel market pick up, steel prices rose Sinosteel except to get rid of the last boom in the doldrums, currently in the third quarter after single over the planning target 341 million metric tons, and prospects for the fourth quarter of the steel boom cautiously optimistic expected under half a year performance will be compared with the first half of the year more beautiful.
Song Zhiyu pointed out that the company's annual electricity demand for 5 billion degrees, itself cogeneration power accounted for 56%, the rest to Taipower to buy, to enhance spontaneous power, use planning group workshop roof about 80 hectares, investment of NT $30 to 40 billion yuan, set the solar panel equipment, is expected to divided into 5 years to set up, next year is expected to increase 1 million degrees of electricity, the case this year is expected to submit it to the board of directors will be discussed, and the establishment of the sales company, in order to improve energy efficiency in the use of regeneration.
Sinosteel yesterday to convene the shareholders' meeting, except through the earnings distribution case last year, per share of common stock allotment of 0.5 yuan cash dividend and held next board of directors re-election, successfully elected director of 11 seats.
For shareholders questioned the steel price is too low, Song Zhiyu said that last year by, iron and steel production capacity surplus, $823 million metric tons, and exports reached 112 million metric tons, impact on the international steel market, and affect the steel prices stable, resulting in mills operating difficulties and disputes raised anti-dumping and Countervailing measures, resulting in Asian steel mills, including South Korea Pohang combined losses of $32 billion yuan,, loss of steel mills of NT $320 billion yuan, but China Steel and profit 76.2 billion yuan, and the first five months of profit 36.63 billion yuan, is better than that of other steel mills, as the share price fluctuation is determined by the stock market, the management team and staff only operating at full capacity.
Shareholders in mainland China production capacity oversupply, ask Sinosteel to coping, Song Zhiyu said, steel in order to improve the market competitiveness, and strive to steel product differentiation, that is committed to raising the proportion of high grade steel products, the proportion of last year reached 56.3%, this year will be trying to break 60%, such as American electric car factory Tesla to Tomita procurement of the motor, the main use of steel electromagnetic steel sheets.
Bayashi Hiroshio said steel this year to reduce cost targets for 35 billion yuan, the target group for 60 billion yuan and Steel Group production and sales is expected to by 14.27 million metric tons of increased to 17.67 million metric tons.
Another shareholder questions Formosa ha tinh steel delayed start, the influence of the steel, Wang Xiqin said that Formosa Plastics steel blast furnace ignition delay, mainly is the official approval procedures have not yet completed, in the ignition delay is bound to have a loss, but partial loss, the bilateral coordination, capitalization, as plant costs, to reduce the impact of the steel.