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Commercial lighting is a term used to describe lighting that is used in commercial spaces, including auto dealerships, distribution centers, churches, factories, offices, and warehouses. Unlike residential lighting, commercial lighting is made to withstand more abuse and has a longer lifespan.
While the focus of residential lighting is often on aesthetics, commercial lighting is task orientated. Commercial lighting systems are designed based on what the application is. For example, in an office-type setting, you may see task lighting, which illuminates specific areas where employees need concentrated light to be able to perform their jobs.
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First, the growth rate of steel demand will slow down. From 2005 to 2007, the average growth rate of steel demand in mainland China may be only 5.2%. In 2004, the apparent consumption of steel in mainland China increased by 15.28%. From 2000 to 2003, the average annual growth rate of apparent steel consumption in mainland China was 20.7%. The main reason for the slowdown in steel demand growth in mainland China is that the growth rate of fixed asset investment is likely to slow down in the next few years, while fixed asset investment is a huge driving force for mainland China to drive demand for steel.
Second, there are difficulties in the availability of raw materials for steel production and production costs. In mainland China, the era of cheap iron ore and coking coal is gone. At present, the production costs of steel companies in mainland China have risen rapidly. In 2001, pig iron production costs generally reached 900 yuan per ton, equivalent to 109 dollars per ton. By the spring of 2003, the cost of pig iron production in many steel plants rose to 1,000 yuan per ton. By the summer of 2004, the cost of pig iron production in steel mills had widened the gap between 1,300 yuan and 1,800 yuan per ton. In general, the production cost of pig iron in a more representative steel mill is 1,550 yuan per ton, equivalent to 187 dollars per ton. In 2005, the annual export supply contract price of overseas iron ore increased by 71.5% per ton. In 2004, the FOB price from Brazilian iron ore was 32 US dollars per ton, which was up by 71.5%. In 2005, its FOB price reached US$55 per ton, and the iron ore per ton rose by US$23, equivalent to 190 RMB. For every ton of pig iron, 1.6 tons of high-grade iron ore is needed. Then, in those steel factories in mainland China that rely on imported iron ore sources, the production cost per ton of pig iron is increased by 300 yuan. Therefore, in 2005, the cost of pig iron production in China will reach 1,800 yuan to 1,900 yuan per ton. From a global perspective, in 2005, due to the substantial increase in the import and export market of raw materials such as iron ore and coking coal, the cost of steel production will increase by US$100 per ton, equivalent to an increase of 800 yuan per ton of steel production cost per ton. .
III. Further development is constrained by inadequate infrastructure capabilities. At present, the further development of China's steel industry will be greatly constrained by railway transportation capacity, port capacity, water resources and energy. High electricity prices and insufficient power resources in 2004 were important constraints to the growth of steel production. At present, China is vigorously building new power stations, which is expected to be eased in the next few years. The price per kilowatt of several large steel companies in mainland China was originally 0.40 yuan, equivalent to 0.048 US dollars, and rose to 0.45 yuan in the late spring of 2004, equivalent to 0.054 US dollars. For private steel companies, the price of electricity is higher. From the original price of 10.54 yuan per kWh, equivalent to 0.070 US dollars, it rose to 0.59 yuan, equivalent to 0.072 US dollars. As the scale of steel production in mainland China expands further and the total energy consumption increases, the transportation, ports and water resources serving the steel industry in the next few years will be in a tight situation, driving the steel production costs to rise further.
4. Significant impact on the implementation of more stringent environmental regulations Many small coking plants, ironworks and steel mills in mainland China will have to choose to close to meet the requirements of the country's more stringent environmental regulations; or choose to increase investment Eliminate some major problems such as environmental pollution. In the 1980s, the United States enacted the "Atmospheric Purification Law" regulations to strictly limit the emission of harmful fumes or diverges into the atmosphere, that is, increase the investment costs of steel mills, so that the long-flow blast furnace steel plant is severely challenged by short-process scrap steel furnaces. . With the further development of China's economy and society, the quality of life requirements are getting higher and higher, and the environmental protection is becoming more and more strict. Like the United States, the development of China's steel industry faces enormous challenges in environmental protection.
V. The Challenge of “Competitive Steel Pricing Structure†In the future, China's steel market prices may often decline, so that it cannot guarantee sufficient profits to ensure the normal operation of steel plants. In particular, steel mills that produce thin sheet products that are closely related to the pricing structure of thin-sheet products will face the following challenges. First, the fluctuations in the market price of domestic thin-sheet products have great sensitivity to the market price of thin-film products in the world. Second, there will be fierce competition between many steel mills that produce thin-sheet products. Third, in the coming years, mainland China will refuse to sell most of its steel products to steel wholesale traders, rather than selling directly to the end user sector. The dominant position of steel wholesale traders in the steel circulation field will greatly intensify the price competition in the steel market, so that the special close relationship between the steel mill and the user sector tends to weaken. Most steel mills in mainland China pay their steel products. The goods will gradually lose control.
Sixth, private small iron ore and small ironworks will still survive. In 2005, the price of imported iron ore increased by 71.5%, which greatly exceeded the expectations of the steel industry, which caused great shock. In this way, the price level of domestic iron ore in China in 2004 was the same as the contract price of iron ore imported from overseas in 2005. The result will greatly stimulate the enthusiasm of iron ore mining and production in mainland China. Not only will the scale of iron ore products be expanded, but also domestically produced. The iron ore market price will rise further in 2005. Of course, the contract price of iron ore imported from overseas in the fiscal year 2005 will rise sharply, which will also alleviate the excessive pressure on the production cost of iron ore in private small iron ore. In this environment of unexpectedly high price increase in the iron ore market at home and abroad. The private iron ore and small blast furnace ironworks in mainland China will continue to survive, and the environmental pollution control time will be postponed.
7. Steel export potential is limited When the world steel demand is in a weak state, the world thin plate product export market price will be lower than the production cost of most thin plate products manufacturers in mainland China. At the same time, if these thin-plate production plants in mainland China try to increase their export efforts, then these production plants must face the threat of anti-dumping and offsetting tariff complaints from overseas competitors. The Chinese central government is trying to avoid this situation because the Chinese central government policy makers do not want to export their steel products at a loss; otherwise, the result is a further waste of coking coal and iron ore resources in mainland China. The relevant departments in mainland China have realized that the steel industry sector is the fundamental goal of meeting the needs of the domestic market, and will never use the traditionally industrial products of the heavily polluted and capital-intensive steel industry sector for export.
8. Fixed asset investment rate and growth rate have driven the growth of steel demand. The main driving force for China's steel demand growth is domestic fixed asset investment rate and growth rate. Since 2000, the proportion of domestic fixed assets investment in GDP has increased substantially. The continuation of the model of increasing the rate of investment in fixed assets to increase GDP growth has come to an end, or relying on high domestic fixed asset investment rates to support GDP growth and steel demand growth is not sustainable, the reasons Yes, the current domestic fixed asset investment rate in mainland China has reached more than 40%, which is already quite high.
1. In 2004, China’s GDP growth rate was 9.5%, while domestic fixed asset investment growth rate was 25%. Then, in 2004, the proportion of total domestic fixed assets investment in its GDP was fixed in mainland China. The asset investment rate is 45%. In the next few years, if the domestic fixed asset investment rate continues to increase, there will be excessive risk of stimulating economic growth. At the same time, there is also a risk of excessively driving demand for steel. At present, the domestic fixed asset investment rate has reached more than 40%. From an economic point of view, the economic growth rate is the limit at this extremely high investment rate. In order to maintain a GDP growth rate of around 10%, this investment rate must be continuously increased. If China wants to maintain a GDP growth rate of around 10% for a long time and maintain it for 20 years, then China's domestic fixed asset investment rate of more than 50% is likely to maintain this growth momentum. There is almost no country in the world, and any economy can withstand such a high domestic fixed asset investment rate.
2. Increasing the contribution of domestic fixed asset investment to stimulating the growth of steel demand is greater than increasing the consumer spending of consumers to drive the growth of steel demand. The steel consumption of one dollar of domestic fixed asset investment is 14.3 times of the steel consumption of one dollar of consumer spending. In 2003, China’s domestic fixed asset investment reached 604 billion US dollars, and its steel consumption reached 216 million tons. While consumer spending reached $607 billion, its steel consumption was only 15 million tons. In contrast, the steel consumption of a thousand dollars of domestic fixed asset investment is 0.358 tons, while the consumption of one thousand dollars of consumer spending is only 0.025 tons.
3. Once the growth rate of investment in fixed assets begins to slow down, the demand for steel products decreases. In general, the proportion of steel consumption in the initial stage of construction projects is relatively large. Once the growth rate of fixed assets investment begins to decline, This is a disadvantage for steel consumption.
4. If the proportion of consumer spending to GDP increases, then the proportion of domestic fixed-asset investment in GDP may decline. As mentioned above, this is a negative adverse effect on steel consumption. The reason is that the steel consumption of the unit consumer consumption expenditure is much smaller than the steel consumption of the unit domestic fixed asset investment.
5. The production of long profile products in mainland China accounts for a large proportion of the total steel output, which is not common in many other regions or countries in the world. The reason is that the fixed asset investment rate in mainland China is extremely high, and the investment in fixed assets is It is closely related to the business activities of the construction industry and capital equipment expenditure, which requires the consumption of a large number of long profile products. Equivalent consumption of long profile products in China accounts for 61% of total steel consumption (if the production of narrow strips is also included, it accounts for 70% of total steel consumption), compared with 35% in Japan and Europe. 46%, the United States is 35%. In view of the unusually high rate of domestic fixed asset investment in mainland China, the consumption of long profile products in mainland China accounts for about 34% of the world's total long-selling products.
Constraints on the development of China's steel industry in the next few years
The authoritative research institutions of foreign steel market believe that China's steel industry has developed rapidly in recent years. In 2000, the output of raw steel in China was 128.5 million tons. By 2004, the output of raw steel reached 272.4 million tons, and the output of four years increased by 144 million tons. In the history of the development of the steel industry in the major steel-producing countries in the West, there has never been an increase in production. However, the development of China's steel industry faces some important constraints in the short term.