Steel Mill Closure Cannot Ignore Debts, Credit Has a "Cost"
Jul 12, 2024
Recent Highlights:
Market Commentary from Foshan, July 9, 2024: Everything comes with a cost, including kindness, honesty, and loyalty. It's often heard that veterans in stainless steel reminisce about the glorious days of the industry, when they were bold and extravagant, with their words as reliable as gold. But who would have thought that in recent years, despite written agreements, morality seems to be slipping away! What has changed?
Stainless steel remains the same, but the business has become increasingly difficult, and the term "cost" has become a common catchphrase. However, at some point, "cost" seems to have lost its lower limit. People don't understand why a 100-yuan note, even when folded, crumpled, or crumpled into a ball, still retains its value, yet others treat it as if it were worth only 90 yuan. Is the holder foolish?
When pushed to the extreme, ugliness emerges.
💬 Business is all about integrity: After two to three decades in stainless steel, I never imagined a day when my supplier would default on me. Especially a large steel mill enterprise, which could easily invest over ten billion, why risk their reputation over a small amount? Reality is, the mill says it's closing and people scatter, leaving no recourse for the debts confirmed in 2022 and 2023. It's very helpless. I hope the platform can help us appeal, as it's too tiring to search, and I don't know how to make our voices heard directly...
Since the official shutdown of a stainless steel enterprise in East China at the end of 2023, this has been the Nth similar request from downstream stainless steel enterprises.
From the "Customer Complaint Result Inquiry Form" issued by many companies, the material number, product name, material use, material size, customer complaint weight, complaint reason, refund unit price, and refund amount are all very clear.
💬 Processing was done according to the process, all in accordance with the rules: But as time went on, the responsible people disappeared. Every time I asked, it was said that the report had been submitted, but it was delayed again and again, with no end in sight, making the heart very tired. I have no other thoughts, I just want my appeal to be seen by the leadership and decision-making layer, to see if these early confirmed reasonable compensation amounts can be realized?
Downstream enterprises also feel very aggrieved.
💬 I heard that some peers: The originally confirmed compensation amount was overturned, with a huge discount, a direct fracture, which is also speechless. I don't know how the later talks went, it seems there are still some blockages.
A merchant said.
Summary: The stainless steel world, changes every three years.
💬 Li Xunda chose to join the Qingshan agency, and I can now understand this choice: That is, if you still want to do this line of business, you must make choices according to the trend, and you must have stable resources to guarantee. Looking at the industry, only Qingshan can. Otherwise, some steel mills have not even fulfilled last year's contracts. Now many customers order goods, they don't like to find steel mills, they feel that some steel mills are cheating and you can't play with them, play with some merchants in the market, you recognize the merchant is good. You don't care about whether the steel mill delivers the goods or not, I ordered your goods.
A cold rolling boss said in recent market topics.
Americ Energy (CHINA) Co., Ltd. Introduction:
Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.
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