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China steel industry sees profits in 2018 up 39pct

Steel News - Published on Tue, 05 Feb 2019

Image Source: CGTN
China Org reported that China's steel industry reported profits of CNY 470.4 billion (USD 70 billion) in 2018, an increase of 39.3% YoY. According to the National Development and Reform Commission, crude steel output grew 6.6% to 928.26 million tons, whereas steel production hit 1.1 billion tonnes, up 8.5% YoY. Steel exports dipped 8.1% to reach 69.34 million tonnes, while imports slid 1% to hit 13.17 million tonnes. Coke exports jumped 20.8% YoY to 9.75 million tonnes.

The steel industry is likely to maintain reasonable profit margins this year, as industry overcapacity has largely eased over the past three years.

Source :

Posted By : Ratan Singh on Tue, 05 Feb 2019
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