On the conference held in Shanghai, Ministry of Industry and Information Technology of China (MIIT) and other delegates unanimously agreed that China steel market generally performed stable since this year, but the downswing appeared from October when the steel business was exposed to plummeting prices and shrinking demand.
Therefore, to push steel industry further growth amid stability comes out as the keynote for 2012. In a bid to achieve this, steel enterprises need to solidly implement policies, strengthen upstream and downstream cooperation, promote energy conservation and emission reduction, as well as improve innovative ability.
What's more, to advance M&A process and stabilize business inside and outside China is also of great importance.
Recently, MIIT has announced to organize coordinated power in an attempt to pull through difficulties and woes confronting small and macro enterprises, and avoid massive capital chain rupture.
Additionally, in view of current high coal prices and electricity price hike, MIIT required the local governments to adopt measures to help enterprises digest rising cost pressure and mitigate the potential risks for economy