Chinese major steel mills earn 89.7 billion Yuan in 2010

BEIJING (Asian Metal) 18 Feb 11 – According to statistics of Ministry of Industry and Information Technology (MIIT), the profit made by medium and large-sized steel mills of China was only 89.Asian Metal Copyright2%.Asian Metal Copyright7 billion Yuan in 2010.Asian Metal Copyright7% year on year in 2010.Asian Metal Copyright Therein, the profit made by the top 20 mills occupied 83% of the total amount.Asian Metal Copyright7 billion Yuan in 2010.Asian Metal Copyright Baosteel’s profit accounted for 26%.Asian Metal Copyright It is reported that production costs of major domestic steel mills moved up by 30.Asian Metal Copyright While most steel mills recorded low profits or even faced deficit.Asian Metal Copyright2%.Asian Metal Copyright Moreover, the profit rates dropped from 7.Asian Metal Copyright Baosteel’s profit accounted for 26%.Asian Metal Copyright26% in 2007 to 2.Asian Metal Copyright Moreover, the profit rates dropped from 7.Asian Metal Copyright91% in 2010, far below the nationwide average level of 6.Asian Metal Copyright91% in 2010, far below the nationwide average level of 6.Asian Metal Copyright2%.

Sources attribute the profit decrease to price increase of raw materials worldwide. It is reported that production costs of major domestic steel mills moved up by 30.Asian Metal Copyright26% in 2007 to 2.Asian Metal Copyright7% year on year in 2010.
.Asian Metal Copyright Therein, the profit made by the top 20 mills occupied 83% of the total amountAsian Metal Copyright