In the end of 2016, Chinese steel price soaring, with an 83.43% increase from the previous year. It poses a severe challenge for SANY and the whole concrete machinery industry, since they are all the big user of steel.
Minimizing the impact of the soaring steel price
SANY has established a whole set of early warning mechanism to cope with the uncertainty market. Therefore, the price of SANY products suffers no fluctuation and some products are even for promotion.
However, facing the long-time rise of steel price, SANY will lead the whole industry’s price adjustment to avoid chaos, which some of the companies will make up the loss through adding price to the attachment or logistics or reduce the product quality. But SANY declares to the customers that it will not make profit from the rising steel price. It will take advantages of its technology and research development to reduce the waste of material and lengthen the equipment’s service life.
Expanding the related industry
Based on the foundation of concrete machinery industry, SANY continues to expand other business markets, including military industry, fire-fighting industry and housing industrialization.
In the end of last year, SANY military products showcased in China’s Zhuhai exhibition, which won the recognition worldwide, marking a vital step in military industry. The housing industrialization also witnesses a remarkable improvement in recent years.