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Relevant data show that in recent years, the prices of bulk raw materials such as iron ore have risen sharply in China, but the rise in steel prices has been lower than the rise in raw material prices, resulting in a decline in the profitability of the steel industry.
According to the report of the Ministry of Industry and Information Technology, the profit of key large and medium-sized steel enterprises in 2010 was only 2.91%, which is still far below the average of 6.2% of national industrial enterprises. This figure was only 3.23% and 2.46% in 2008 and 2009.
It is understood that in 2010, large and medium-sized steel enterprises realized a profit of 89.7 billion yuan, of which the profit of the top 20 enterprises was about 83%, and the profit of Baosteel was about 26%, while most of the enterprises were in a state of low profit or loss. The overall level of profitability is not optimistic.
Ministry of Industry and Information Technology released a report saying that the profitability of the steel industry has declined
A report released by the Ministry of Industry and Information Technology recently learned that in recent years, due to the substantial increase in the prices of bulk raw materials, the profitability of the steel industry has declined.