www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Business

Iron and steel sector profits set to soar

By Meng Fanbin | China Daily Europe | Updated: 2017-07-23 14:05

 Iron and steel sector profits set to soar

Workers at a steel plant in Dalian, Liaoning province. Liu Debin / For China Daily

Financial performance strong in first half of year amid supply-side reform

China's ferrous metal industry is set to post a strong performance in the first half of the year on the back of government measures to cut overcapacity and optimize the industry's structure, experts say.

"With the reduction of excess capacity, there is a tight supply of iron and steel, leading to high prices, especially wire and rebar," says Wang Guoqing, research director at the Lange Steel Information Research Center in Beijing.

The government's thrust on supply-side reforms has produced positives, Wang says.

Around 20 listed companies in the iron and steel sector have forecast their earnings for the January-June period.

HBIS Co Ltd says its first-half profit will likely be between 1.15 billion yuan ($148 million; 129.23 million euros; 113.18 million) and 1.27 billion yuan, up by 181 to 210 percent year-on-year.

If its forecast holds, that would be the third-highest growth rate in the 20 years since the company listed on the A-share market.

Similarly, Fujian Sansteel Minguang Co Ltd says it expects its first-half profit to rise by 200 percent year-on-year to 1.08 billion yuan.

"The main reason (for the good performance) is the government's efforts to eliminate outdated capacity, especially inferior steel," says Li Xinchuang, president of the China Metallurgical Industry Planning and Research Institute.

By June 30, China had shut all companies that produce inferior steel. More than 500 such companies whose combined capacity was 119 million metric tons were shut, according to a statement from the China Iron and Steel Association.

On July 13, the Lange Steel Composite Steel Price Index reached 144.9, up by 7.4 percent from the beginning of the year.

The Long Steel Products Price Index was at 159.8, up by almost 19 percent from early January. The Flat Steel Products Price Index, however, was down by almost 3 percent at 131.9.

Long steel products include rebar and wire, and flat plate steel products are hot-rolled steel plates, cool-rolled plates and medium plates.

The rebar price is 3, 928 yuan per ton, up by 676 yuan from the beginning of the year.

"Although data show that the total steel output has increased in the January-June period, the demand has shifted from informal products such as inferior steel to qualified steel made by major steel companies. That means the supply is not adequate to meet the current demand," says Wang.

At the same time, iron ore prices are comparatively low, thanks to rising output, oversupply, and high port inventories, Wang says. "Low material prices help keep steel production costs at relatively low levels."

China imported 539 million tons of iron ore in the first half, up 9.3 percent year-on-year, while the country's iron ore production was 508 million tons in the first five months, up by 10.4 percent, according to data from the Lange Steel Cloud Platform. Low costs and high prices are expected to boost companies' profits.

Li says rising infrastructure investment, automobile production and machinery manufacturing in the first half of the year will also likely expand steel consumption.

Total profit of major iron and steel companies was 37.9 billion yuan in the first five months of this year, exceeding full-year combined profit of 33.15 billion yuan in 2016, according to the China Iron and Steel Industry Association.

According to the National Bureau of Statistics, the January-May operating income of the ferrous metal smelting and rolling process industry was 3.02 trillion yuan, which generated a profit of 105.3 billion yuan, up by 93.5 percent year-on-year.

Gan Yong, president of the Chinese Society for Metals, however, says overcapacity reduction should be continued with the same level of determination in spite of the current profits. "Once the companies increase their output, prices will decline immediately."

mengfanbin@chinadaily.com.cn

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 99久久国产综合精品五月天 | 亚洲精品天堂一区在线观看 | 国产精品美女一区二区三区 | 国产成人女人视频在线观看 | 亚洲理论片在线观看 | 久爱免费观看在线网站 | 欧美一级色 | 国产在线观看一区二区三区 | 亚洲www色 | 亚洲国产高清视频在线观看 | 一区二区三区欧美视频 | 最爽的乱淫片免费 | 男人天堂网在线 | 精品国产午夜肉伦伦影院 | 成年人网站免费看 | 久久久精品视频免费观看 | 欧美大尺度免费一级特黄 | 国产精品揄拍一区二区 | 91香蕉视频成人 | 波多野结衣一区二区三区在线观看 | 亚洲精品国产字幕久久不卡 | 欧美成年视频 | 福利一二三区 | 美女视频永久黄网站免费观看韩国 | 亚洲视频手机在线观看 | 亚洲欧美在线综合一区二区三区 | 人久热欧美在线观看量量 | 亚洲精品美女国产一区 | 网禁呦萝资源网站在线观看 | 欧美特一级 | 国产欧美日韩综合一区二区三区 | 国产精品久久久久国产精品三级 | 久青草国产在线 | 亚洲欧美日韩国产精品久久 | 亚洲综合色就色手机在线观看 | 欧美高清性刺激毛片 | 久久精品系列 | 一级毛片在线免费看 | 亚洲影院在线播放 | 日本三级一区二区三区 | 亚洲精品美女在线观看 |