Sino-report
Home Sign in Research report Data Center Industry News Custom Research About us
Research report:                          Automotive  |  Electronics  |  Mechanical&Automation  |  New Energy  |  Medical  |  Advanced Materials  |  Building Products  |  Transportation  |  Communication  |  Chemical  |  Finance  |  IT Industry  |  Food  |  Home Appliances  |  Forestry  |  Agriculture  |  Textile  |  Culture Industry  |  Consumer goods  |  Others  |
 Home > Industry News > Metallurgy > Text
Iron and steel sector gains strength
Author:sino    Source:Sino-report    Number of clicks :     Update time:2018-11-15 10:09
China's iron and steel industry made a strong comeback in the first three quarters of 2018 as the market stabilized and companies

China's iron and steel industry made a strong comeback in the first three quarters of 2018 as the market stabilized and companies' profits increased, said the industrial association on Wednesday.

Liu Zhenjiang, secretary-general of the China Iron and Steel Association, said the first three quarters of 2018 had seen a stable market that "has not been witnessed for years".

He said steadily growing GDP has provided stable demand for the steel sector. As GDP grew by 6.7 percent year-on-year in the first nine months, reaching 65.1 trillion yuan ($9.34 trillion), the output of iron and steel products has picked up momentum accordingly.

"The production of pig iron, crude steel and steel grew by 1.19 percent, 6.07 percent and 7.21 percent year-on-year, respectively," he said.

The member companies of the association were reported to have achieved an 86.01 percent yearly increase in profit from January to September, totaling 229.9 billion yuan.

"The business is picking up momentum," he said.

For example, Chongqing Iron & Steel Co Ltd, in its financial report released for the first nine months of 2018, said it had earned 17.4 billion yuan, up a staggering 113.08 percent year-on-year. Its net profit reached 1.48 billion yuan, a strong comeback from the same period last year, which had seen a loss of 882 million yuan.

"The major boost for steel came from the machinery manufacturing, real estate and automobile sectors," said Wen Chenghui, a senior researcher at Qianzhan Industrial Research Institute.

He said the real estate sector was a strong support driving steel demand in the first half of the year, and demand from the machinery sector will remain stable in the following quarter.

The World Steel Association pointed out that as investment activities by developed countries increased and emerging economies gained strength, global demand for steel has been climbing.

It estimated that by the end of 2018, demand for steel and iron products will reach 781 million metric tons, up 6 percent year-on-year. The figure is expected to remain the same in 2019.

On the financial side, Liu said the industry is seeking to lower the leverage ratio to somewhere below 60 percent from 66.11 percent currently.

Although the industry has been on the right track so far this year, Liu said there are still issues at home and abroad that the companies need to be aware of.

"The international trade environment has undergone significant changes, for example, while global economic growth is weakening and the financial market is going through turbulent times," he said. "In addition, with rising trade protectionism, all these factors add more risks to the global steel market."

"Some markets have been turning their back on open trade, which will not only have impact on China, but also severely hurt the global trade order," he added.

Order Online
Contact Us
Tel: 400-988-9999
Fax:010-82889999
Phone :+8615313587056
Email:Sale@sino-report.com
Email:Cousult@sino-report.com
Online Consultation
MSN :Sino-report@hotmail.com
MSN :Sino-report@foxmail.com
Skype: Please Please
Latest Reports
  More>>
[Metallurgy] China's rise reshapes global gold industry
[Metallurgy] Iron and steel sector gains strength
[Metallurgy] Steel, aluminum tariff receipts flow to US
[Metallurgy] China shines as long-term gold industry leader
[Metallurgy] Steel sector makes headway in capacity reduction
[Metallurgy] Steel sector making good progress in pollution control, say experts
[Metallurgy] Rio Tinto, Minmetals sign JV to explore mineral deposits in China
Popular reports
  More>>
Iron and steel sector gains strength
Industry Data
  More>>
China opens market to Kenya's agricultural products
China's publishing industry booming over past 40 years
Industrial Production Operation in July 2018
Total Retail Sales of Consumer Goods in July 2018
National Real Estate Development and Sales in the First Seven Months of 2018
NSDP/SDDS for the People's Republic of China
Market Price of Important Means of Production in Circulation, July 01-10, 2018
In the first five months of 2018, the profits made by industrial enterprises above the designated siz
Purchasing Managers Index for June 2018
Market Price of Important Means of Production in Circulation, June 21-30, 2018
In global EV battery shipments during Jan - Apr 2018, LG Chem and Samsung SDI ranked 4th and 6th
Based on Jan - Apr shipment record, Kia Motors Remain on Top 10 in Global PHEV Power Brands Ranking
Consumer Prices for May 2018
Producer Prices for the Industrial Sector for May 2018
Industrial Production Operation in May 2018
Investment in Fixed Assets for the First Five Months of 2018
National Real Estate Development and Sales in the First Five months of 2018
Producer Prices for the Industrial Sector for April 2018
Stable Performance for the National Economy in April
Total Retail Sales of Consumer Goods in April 2018
Industrial Production Operation in April 2018
National Real Estate Development and Sales in the First four months of 2018
Sales Prices of Residential Buildings in 70 Medium and Large-sized Cities in April 2018
Industrial Profits Increased in the First Four Months of 2018
Industry News
  More>>
China's rise reshapes global gold industry
Iron and steel sector gains strength
China’s wines take center stage
Machinery manufacturing fair boosts Sino-Russian ties
Medical device manufacturers display their latest technology
Soybean farmers store crops amid hopes of higher prices
Tourism industry opening on agenda
Tech competition eases startups' access to China market
China's excavator sales grow 44.9% in October
China's solid waste imports continue to slump on tightened ban
Related Links
Steel, aluminum tariff receipts flow to US
Steel sector makes headway in capacity reduction
Steel sector making good progress in pollution control, say experts
2011 H1 Steel industry sees higher output
China steel association to release 2011 iron ore index
Steelmakers victim of iron ore monthly pricing
China stainless steel demand to grow 5-7%
Rio Tinto and Chinalco Joint to explore for new mineral deposits in China
China's crude steel demand will rise during the 12th Five-year Plan period
China companies and governments are“battling” for the RE quota

Sitemap       |       Join Us      |       Customer Service       |       About Sino-report
Copyright © 2011-2025 Sino-report Consult Inc.
Sino-report@hotmail.com    Postmaster@sino-report.com
No.18 Zhichun Road, Haidian District. Beijing 100089.China
Information and data contained in this site is for reference only pursuant to operate your own risk
Sino-report