23 Listed Steel Companies News: Total Net Profits Rose By Nearly Fifty Percent !

23 Listed Steel Companies News: Total Net Profits Rose By Nearly Fifty Percent !

Date:Aug 29, 2016

Net profits rose by nearly fifty percent !

     The related data shows that from January to July, China has reduced the accumulated steel production capacity of 21 million tons, which was 47% of the annual task.

  Some analysts found that in the current market, stainless steels prices continue rising,steel factories' profit space is still large . In the face of benefits, some steel mills starts back has been on the rise. 

Even if the environmental supervision affected parts ofproduction capacity, from the perspective of a single month in June 2016, China's crude steeloutput was 69.469 million tons, the year-on-year up 1.7% , crude steel production in July of 66.807 million tons, up 1.5% . In the traditional low season of June and July, crude steel production is not down , in fact it is up , which maybe a closely related with steel prices rising, and their profits increasing.

 That means in the first half of this year, China's listed company profitability, of iron and steel industry . By August 27, according to the "securities daily" reporters statisticaldata, through 36 listed steel companies in China has reported, in which 23 has released this year:  The sum of the 23 companies in the first half of this year net profit of 3.151 billionRMB, while the 23 companies last year net profit of 2.127 billion yuan, increased by 48.14% 


   In conclusion, the government eliminating excess capacity is still the mainstream tone,also give the market price support.In the second half year, there will be a detailed plan toreduce steel production capacity , meanwhile will continue to track the enforcement.

   But, July and August is the steel consumption off-season, the majority of steel mills have arranged maintenance, controled production rhythm. On the other hand,the environmental protectioninspection have reached at eight provinces; Tangshan steel mills will circuvent their output again in the later of August; the G20 Summit , and so on, all factors affected East China steel mills production scheduling , Leading to the steel industry supply hard to rise. 

   Expect the August crude steel output continued to hover around 2.15 million tons.

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