Date: 2013-07-31

The Whole Iron Steel Industry Experienced Loss in The First Quarter

This year, due to the weakening market demand, decline in steel prices and increases in raw materials and fuel prices, the Chinese steel industry witnessed significant decline in economic benefits. China Steel Industry Association announced that according to the statistics from key large and medium-sized steel enterprises, the total industrial output value was 785.067 billion yuan in the first three months of this year, with an increase of 0.24%; the sales income was 863.888 billion yuan, 0.95%declined; the profits was 15.184 billion yuan, 64.83% declined, wherein the negative profit was 1.034 billion yuan.

Zhang Changfu, vice president and secretary general of China Steel Industry Association, said that the loss situation of the steel industry has changed from the loss of manufacturers to the loss of the entire industry, which is the first time ever since the beginning of this new century. According to him, the amount of loss in the first quarter was 9.098 billion yuan, with the loss up to 33%.

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