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Qi Xiangdong, the executive vice general secretary of China Iron & Steel Association (CISA) expressed on Dec.6 in Shangshai that since the third quarter of this year, China steel output notably tumbled, prices extensively plunged, more and more enterprises got losses, the whole industry faced severe challenge, and nearly 60pc large and medium steelmills operated in the red, in addition, next year, China steel production should pay attention to the pushing effects produced by macro economy and the direct and indirect export level of steel products, and actively tackle the challenges in accordance with market change.
Steel industry presented an unprecedented rapid-rebound situation since Sept.
Qi expressed that since entering New Age, with the accelerating of global economic recovery and domestic industrialization process, Chinese steel production kept high growth for seven consecutive years, crude steel can averagely grow around 20pc per year from 2001 to 2007, however, since September this year, steel industry presented an unprecedented rapid-rebound situation, while the lowest monthly output was 14.8mln tons lower than the highest point.
The latest statistics data provided by Qi Xiangdong showed that, when compared to the same period last year, profit of domestic 71 large and medium steelmills slumped 0.93pc in the first ten months this year, among which, that respectively sank 19.44pc and 72.9pc in August and September, in addition, 42 of 71 steelmills made a loss of 7.77bln yuan in October.
According to the analysis of Qi Xiangdong, the substantial reasons that lead to steelmills’ negative profit were the poor demand, sharply descendent steel price and high-level cost, what’s more, domestic steelmills’ sales profit rate was 5.58pc from January to October, but dropped to -3.23pc only in October, appeared a significant fallback situation for more visit: chinametalbiz.com
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Steel industry presented an unprecedented rapid-rebound situation since Sept.
Qi expressed that since entering New Age, with the accelerating of global economic recovery and domestic industrialization process, Chinese steel production kept high growth for seven consecutive years, crude steel can averagely grow around 20pc per year from 2001 to 2007, however, since September this year, steel industry presented an unprecedented rapid-rebound situation, while the lowest monthly output was 14.8mln tons lower than the highest point.
The latest statistics data provided by Qi Xiangdong showed that, when compared to the same period last year, profit of domestic 71 large and medium steelmills slumped 0.93pc in the first ten months this year, among which, that respectively sank 19.44pc and 72.9pc in August and September, in addition, 42 of 71 steelmills made a loss of 7.77bln yuan in October.
According to the analysis of Qi Xiangdong, the substantial reasons that lead to steelmills’ negative profit were the poor demand, sharply descendent steel price and high-level cost, what’s more, domestic steelmills’ sales profit rate was 5.58pc from January to October, but dropped to -3.23pc only in October, appeared a significant fallback situation for more visit: chinametalbiz.com
chinametalbiz.com
[email protected]