Chinese steel industry sees rapid profit decrease in October

BEIJING (Asian Metal) 6 Dec 11 – "In October, the whole steel industry experienced a record low of profit, and 77 larger steel had 0.Asian Metal Copyright375 billion of profit, down by 82.Asian Metal Copyright47% of sale profit ratio with RMB1.Asian Metal Copyright13%; the profit accumulated to RMB1.Asian Metal Copyright375 billion of profit, down by 82.Asian Metal Copyright It is noticeable that steel industry sees growing losses.Asian Metal Copyright6% month-on-month," Luo Bingsheng, vice director of Party Committee of China Iron and Steel Association (CISA) said.

It is reported that 77 key larger steel enterprise realized RMB271.28 billion of production value in October, down by RMB348 million; sales revenue reached to RMB290.Asian Metal Copyright59%; among which, steel enterprises with over 5 million tons of capacity had RMB1.Asian Metal Copyright06 billion down by 7.Asian Metal Copyright In September, 9 of 77 larger steel enterprises posted loss, and 25 of the 77 enterprises posted loss in October, with the ratio increasing to 32.Asian Metal Copyright13%; the profit accumulated to RMB1.Asian Metal Copyright13%; the profit accumulated to RMB1.Asian Metal Copyright375 billion, down by RMB6.Asian Metal Copyright28 billion of production value in October, down by RMB348 million; sales revenue reached to RMB290.Asian Metal Copyright52 billion or 82.Asian Metal Copyright375 billion of profit, down by 82.Asian Metal Copyright59%; among which, steel enterprises with over 5 million tons of capacity had RMB1.Asian Metal Copyright It is reported that 77 key larger steel enterprise realized RMB271.Asian Metal Copyright528 billion of profit, down by RMB5.Asian Metal Copyright6% month-on-month," Luo Bingsheng, vice director of Party Committee of China Iron and Steel Association CISA said.Asian Metal Copyright292 billion or 77.Asian Metal Copyright52 billion or 82.Asian Metal Copyright6%, all on month-on-month basis.

It is noticeable that steel industry sees growing losses. In September, 9 of 77 larger steel enterprises posted loss, and 25 of the 77 enterprises posted loss in October, with the ratio increasing to 32.Asian Metal Copyright5%; the 25 steel enterprises had RMB2.Asian Metal Copyright5%; the 25 steel enterprises had RMB2.Asian Metal Copyright Profit for Shanghai-based Baosteel Group Corporation Baosteel and Inner Mogonlia Autonomous Region-based Baotou Iron and Steel Group Co.Asian Metal Copyright125 billion of loss.Asian Metal Copyright125 billion of loss.Asian Metal Copyright Profit for Shanghai-based Baosteel Group Corporation (Baosteel) and Inner Mogonlia Autonomous Region-based Baotou Iron and Steel Group Co.Asian Metal Copyright It is noticeable that steel industry sees growing losses.Asian Metal Copyright, Ltd.Asian Metal Copyright528 billion of profit, down by RMB5.Asian Metal Copyright (Baotou Steel) which posted higher profit among Chinese steel enterprises only reached RMB352 million and RMB322 million respectively in the given period.
.Asian Metal Copyright125 billion of lossAsian Metal Copyright