CISA: 77 domestic steel mills earned over 7 billion Yuan in Oct
2010-11-30 12:12:44 【Print】
BEIJING 23 Nov 10 – According to statistics of China Iron & Steel Association, 77 major domestic steel mills recorded a profit of over 7 billion Yuan in October, reaching the peak of this year. Profits of July, August and September were 2 . 8 billion Yuan, 3 . 8 billion Yuan and 5 . 8 billion Yuan respectively . While the total amounts in the first three quarters was 64 billion Yuan, up by 98 . 05% compared with that of the corresponding period of last year . Meanwhile, it is estimated that the total profits of these 77 steel mills would reach 100 billion Yuan by the end of this year.
The domestic output of crude steel has showed the downward trend since this April. Although that rebounded slightly in October, it is still lower than the average level . The accumulated import amounts of iron ore was 503 million tons, witnessing the first decline since 2005 . However, since the import payment increased, the total import amount moved up by 54% year on year.