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    MIIT meet steelmakers for advice on 12 five year program
    3/3/2010
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        It is reported that China Metallurgical Industrial Planning and Research Institute had called a meeting February 26th participated by over 30 domestic steelmakers and the Ministry of Industry & Information Technology to seek suggestions on steel sectors growth in the 12th five year development plan period.

    Mr Liu Shuping with planning department of MIIT said the ministry will further promote interconnection between the nation planning and local planning, steel sector and the downstream sectors planning and will make revision according to the situation to ensure prompt guide while constituting regulations for 12th 5 year program.

    Mr Li Chuangxin director of CMIPRI said that the steel industry will focus on structural adjustment, industry layout, merger and acquisition as well as building of industrial chain during that period.

    On iron ore talks, some attended steelmakers proposed to establish a company for unified resource purchase, negotiation and pricing, to change the situation that over 100 steel producers and traders scramble for importing.

    A Hebei Steel representative suggested building such a company shares held by the nation 16 largest steelmakers, to do unified buying and investment in iron ore and allot the resource according to stock proportion.

    On the topic of M&A, domestic combination is considered mainly the will of the government. Chongqing Steel spokesman expressed hopelessness on being asked to take over Chongqing Special Steel the other year.

    Mr Li said the industry will combine M&A with checking capacity and elimination campaign, associate regional consolidation with cross region merger while giving priority to the latter and connect market law with government push in the 12th five year period. Meanwhile, state assets shall be safe and interests of each part be well allotted while attach importance to integration after merger.

    He said that the meeting also talked about the strategy of developing steel along the sea and river. During 12th five year period, steel sector will continue to build large steel bases offshore, but will insist in the principle of combining with capacity control, obsolete elimination and M&A. But some steel mills questioned scrap, as a more and more important ingredient for steelmaking is mainly located in inland so is the market.

    (Sourced from 21 century Business herald)

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