双语阅读：钢铁价格危机

　　Steel company valuations are poised for a fall as increased Chinese output is cutting its reliance on imported supplies. 内容来自www. .com

　　China, for long the main driver of surging demand, is making more of its own steel, causing a potential excess of supply in other parts of the world.

　　Shares in BlueScope, Australia''s biggest steel company, dropped 15 per cent on Friday after it warned that profits this year would drop sharply due to higher steel production from China spilling into world markets, especially in Asia.

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　　Shares in ThyssenKrupp of Germany fell, along with other steel companies such as the Anglo-Dutch Corus and Luxembourg''s Arcelor, as investors reasoned that the BlueScope warning could have repercussions for steelmakers globally.

　　Last month Ulrich Middelmann, deputy chairman of ThyssenKrupp was complaining about the high price of many metals companies.

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　　Now, however, he may be cheered by the fact that some of the steelmakers he might be keen to purchase would soon start to look more affordable.

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　　After a recent spate of consolidation in the industry, many steelmakers are looking at acquisitions. CopyRight .com

　　Large groups such as Arcelor and Mittal Steel have snapped up smaller companies to give themselves more power to dictate prices.

　　After doubling in many markets in the previous three years, average prices for steel fell in the first six months of this year. However, they have edged up in recent weeks, helped by an increase in manufacturers'' stocks in the US.

　　That trend now looks almost certain to go into reverse in the next six months, even though the fall in prices seems unlikely to be dramatic. 内容来自www. .com

　　The biggest culprit for the likely price decline is higher production in China which is not being matched by stronger internal demand. As a result, according to CRU, net imports into China of steel sheet an important indicator for the industry will fall from 23m tonnes in 2003 to 6.5m tonnes next year and 4.2m tonnes in 2007.

　　The likely fall in steel exports from other countries into China does not look all that great but it promises to be enough to influence global pricing trends.

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　　全球钢铁企业的市值将出现降落，由于中国钢铁产量始终增加，令其正在减少对供给的依靠。

　　长期以来，中国始终是钢铁须要飙升的主要推能源，但目前中国自己生产的钢铁增多，导致世界其它地区可能出现供应过剩。

　　澳大利亚最大钢铁公司BlueScope的股价周五下挫15%，此前因为中国钢铁产量回升已影响全球市场，尤其是亚洲市场，公司忠告今年利润将急剧下降。

　　德国的蒂森克虏伯（ThyssenKrupp）股票与英荷哥鲁氏（Anglo-Dutch Corus）、卢森堡阿塞洛（Arcelor）等企业股票的价格相继下跌，因为投资者认为，BlueScope的预警可能会对寰球钢铁业产生影响。 CopyRight .com

　　蒂森克虏伯副董事长乌尔里希.米德曼（Ulrich Middelmann）上月抱怨说，很多金属企业价格很高。

　　但眼下他或者会对一个事实感到高兴：不久后，他可能很想收购的一些钢铁出产商，会开始看上去价钱更便宜、更能让人承受。

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　　在近期的钢铁行业整合大潮后，很多钢铁制造商正在考虑收购。 内容来自www. .com

　　阿塞洛跟米塔尔钢铁（Mittal Steel）等大型集团已收购一些较小的企业，以使本人得到更大的定价才干。

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　　许多市场的钢铁均价在从前3年里上涨了一倍，而今年上半年价格则呈现下跌。但最近多少周，受美国制作商存货增添的推动，该价格又有所回升,。 内容来自www. .com

　　当初看来，该趋势在今后6个月里几乎断定会反转，只管价格的下跌好像不可能很剧烈。

　　造成这种价格可能下跌的最大起因，是中国产量的回升，但该国的内需不相应增加。结果，根据英国商品研究所（CRU）的数据，中国钢板净入口从2003年的2300万吨，将降至明年的650万吨，到2007年预计将降至420万吨。钢板净进口是钢铁行业的一个重要指标。

　　其它国家对华钢铁出口可能下降，诚然降幅看上去不会如此之大，但看来足以影响寰球定价趋势。

　　二、重点词汇

　　valuation　 n.估价，评估，打算

　　surging 　n.浪涌，冲击

　　potential 　adj.潜在的，可能的，势的，位的

　　　　　　 n.潜能，潜力，电压

　　reasoned 　adj.详尽论述的，理由充分的

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　　purchase　 vt.买，购置 CopyRight .com

　　　　　　　n.买，购买

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　　consolidation 　n.牢固，合并

　　acquisition 　n.获得，失掉物

　　dictate 　v.口述，口授，使听写，指令，教唆，命令，规定

　　　　　　n.领导（指理智，变心） 内容来自www. .com

　　dramatic 　adj.戏剧性的，活跃的

　　influence 　n.影响，感召，势力，有影响的人（或事）， （电磁）感应

　　　　　　　vt.影响，改变

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