Iron and steel enterprises will face bad days

According to the China Iron and Steel Association statistics, from January to July, members of the iron and steel enterprises to break even profit -62.23 billion yuan, up from a profit becomes a loss, the loss reached 46.53%.

Iron ore prices quickly rebounded, so that the original state of steel prices at a loss even worse. Rapid increases in raw material prices, but steel (1951, -12.00, -0.61%) spot price of the product, but not up, although it has entered the ‘golden nine silver ten’ shopping season, but the needs of the market still did not pick up .

Currently tons of steel mills in North China’s average loss of about 100 yuan, while the East China steel prices because of advantages in transportation costs per ton average loss of about 50 yuan, some mills are also able to reach breakeven.

 

Posted in Industry.