MIIT: Iron and steel industry runs steadily in 2019
2020-03-12 11:51:08 [Print]
Recently, Ministry of Industry and Information Technology (MIIT) released 2019 operation report of iron and steel industry
. According to MIIT, iron and steel industry continued promoting supply-side structural reform, consolidated overcapacity cutting achievements and accelerated structural adjustment, transformation and upgrading in 2019, showing a stable operation status . As iron and steel output increased at a faster speed, prices for steel products edged down and prices for iron ore and other crude fuel materials rose, iron and steel enterprises suffered a sharp decline in economic profit . In 2019, member iron and steel enterprises of China Iron and Steel Industry Association recorded a sales revenue of RMB4 . 27 trillion (USD0 . 61 trillion), a year-on-year growth of 10 . 1%, and saw a profit of RMB188 . 994 billion (USD27 . 15 billion), a year-on-year decline of 30 . 9%.