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Recently, the steel market has seen more severe price fluctuations, with Hangzhou dealers seeking additional subsidies from Shagang. In response, trade suppliers in Chengdu and Panzhihua have protested against recent price increases, leading to escalated tensions between hydraulic prop pipe manufacturers and dealers.
During the "Two Sessions," Li Yizhong, former Minister of the Ministry of Industry and Information Technology and deputy director of the Economic Committee of the Chinese People's Political Consultative Conference, stated that "steel is not a declining industry." He emphasized that, in addition to managing overcapacity, the steel sector must practice self-discipline at the state, industry, and societal levels.
This week, in response to protests and subsidy demands from Hangzhou traders, Shagang announced a price reduction in mid-to-late March. However, dealers continue to pressure the company to cover the cost of rebar price hikes. According to the Shagang Economic and Trade Office, high-level discussions are still ongoing regarding potential price adjustments.
The Ministry of Industry and Information Technology recently outlined five key priorities for China's steel industry in 2013. The ministry emphasized that resolving overcapacity will be central to the industry’s structural adjustment. Moving forward, it plans to promote industrial restructuring in provinces such as Shandong, Hebei, Yunnan, and Jiangsu by supporting mergers and acquisitions among leading enterprises. It also aims to streamline entry barriers, phase out outdated equipment and production lines, and accelerate the elimination of inefficient and outdated facilities. These measures are expected to enhance the long-term sustainability and competitiveness of the steel sector.
As the industry faces growing challenges, the call for coordinated efforts among producers, policymakers, and market players has never been more urgent. With fluctuating prices and rising demand, the path forward requires both innovation and discipline to ensure stability and growth in the years ahead.