Trade Resources Industry Views China's Steelmakers Overall Sales Down 0.53 Percent Month on Month

China's Steelmakers Overall Sales Down 0.53 Percent Month on Month

According to the China Iron and Steel Association (CISA), in May this year the overall sales revenue of China's 80 large and medium-size steelmakers - all CISA members - totaled RMB 316.655 billion ($51.66 billion), down 0.53 percent month on month, while they achieved an aggregate net profit of RMB 2.847 billion ($0.46 billion), up 132 percent month on month. In particular, 15 of the steelmakers recorded losses in the given month, three less than in April, with a combined loss of RMB 1.347 billion ($0.22 billion), down 21.37 percent month on month.

In the January-May period of the current year, China's large and medium-size steelmakers recorded an overall sales revenue of RMB 1.5036 trillion ($245.29 billion), up 0.95 percent year on year, with an aggregate net profit of RMB 1.754 billion ($0.29 billion), down 46.55 percent year on year. 26 steelmakers recorded losses in the January-May period, nine less than in the same period last year, with a combined loss of RMB 8.931 billion ($1.46 billion), down 3.84 percent year on year.

Source: http://www.steelorbis.com/steel-news/latest-news/chinese-steelmakers-see-reduced-profitability-in-january_may-834898.htm
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Chinese Steelmakers See Reduced Profitability in January-May
Topics: Metallurgy