Yesterday, Deputy China National Steel Industry Association (referred to as China Steel Association) Luo Bingsheng disclosed that in the first 5 months, the profit margins of the 80 large and medium-sized steel plants included in the statistics of the China Iron and Steel Association accounted for only 2.91%, continuing to decline year-on-year, a decrease of 0.67%. The operation of the steel industry is in a state of high cost and low efficiency.
This means that the sales return of hard-to-manufacture steel products is not as good as the return on interest paid to banks (the current half-year fixed deposit rate is 3.05%).
One of the reasons for this situation is that the price of imported iron ore raw materials has soared. The trend of iron ore price mainly depends on the iron ore price index. At present, the iron ore price index is in the hands of others. In this case, Luo Bingsheng stated that China’s own iron ore price index is bound to be launched and said that it is very Fast launch.
Luo Bingsheng introduced that in the first five months, 80 large and medium-sized iron and steel enterprises that were included in the statistics of the China Iron and Steel Association had increased the price of imported iron ore raw materials by a large margin, the overall production and sales cost rose by 25%, and the profit was only 42.8 billion yuan. The sales profit rate was 2.91%. . In view of the high cost and low efficiency of the steel industry, Luo Bingsheng said that in the future, the steel industry must shift its focus to cost control and the pursuit of operational quality and efficiency.
Regarding the price trend of iron ore next year, Luo Bingsheng believes that given the global crude steel production is in a state of oversupply, domestic iron ore production is increasing, and China’s port iron ore stocks are also at a high level of 90 million tons. Demand for iron ore may fall in half a year, and overall prices will enter a downward path.
This means that the sales return of hard-to-manufacture steel products is not as good as the return on interest paid to banks (the current half-year fixed deposit rate is 3.05%).
One of the reasons for this situation is that the price of imported iron ore raw materials has soared. The trend of iron ore price mainly depends on the iron ore price index. At present, the iron ore price index is in the hands of others. In this case, Luo Bingsheng stated that China’s own iron ore price index is bound to be launched and said that it is very Fast launch.
Luo Bingsheng introduced that in the first five months, 80 large and medium-sized iron and steel enterprises that were included in the statistics of the China Iron and Steel Association had increased the price of imported iron ore raw materials by a large margin, the overall production and sales cost rose by 25%, and the profit was only 42.8 billion yuan. The sales profit rate was 2.91%. . In view of the high cost and low efficiency of the steel industry, Luo Bingsheng said that in the future, the steel industry must shift its focus to cost control and the pursuit of operational quality and efficiency.
Regarding the price trend of iron ore next year, Luo Bingsheng believes that given the global crude steel production is in a state of oversupply, domestic iron ore production is increasing, and China’s port iron ore stocks are also at a high level of 90 million tons. Demand for iron ore may fall in half a year, and overall prices will enter a downward path.
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