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"The main reason (for the good performance) is the government's efforts to eliminate outdated capacity, especially inferior steel," says Li Xinchuang, president of the China Metallurgical Industry Planning and Research Institute.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: 香港台湾经典三级a视频 | 日韩亚洲综合精品国产 | 99久久精品免费看国产免费 | 男女视频免费看 | 久草综合网 | 激情视频一区 | 精品日本久久久久久久久久 | 在线播放成人毛片免费视 | 99国产精品农村一级毛片 | 中文字幕在线播 | 99视频久久精品久久 | 大伊香蕉精品视频在线 | 一级网站在线观看 | 欧美一区二区三区久久久人妖 | 韩国美女豪爽一级毛片 | 国产成人精品视频午夜 | 欧美日韩一区二区综合 | 亚洲欧美一区二区三区 | 成人区精品一区二区毛片不卡 | 久久久精品免费视频 | 视频精品一区二区三区 | 97在线观看完整免费 | 国产免费午夜a无码v视频 | 精品国产三级 | 国产精品黄在线观看免费 | 最近手机中文字幕1 | 手机国产日韩高清免费看片 | 萌白酱白丝护士服喷水铁牛tv | 99久久精品费精品国产一区二 | 超级碰碰碰视频视频在线视频 | 国内自拍视频一区二区三区 | 成人黄色免费网站 | 99精品高清视频一区二区 | 成人精品一区久久久久 | dy888午夜国产午夜精品 | 成人毛片视频免费网站观看 | 国模午夜写真福利视频在线 | 欧美日韩一区在线观看 | 中文字幕一二三四区2021 | 久久99精品久久久久久 | 午夜mm131美女做爰视频 |