In the third quarter, the loss amount is close to the annual level of last year. How to solve the "dilemma" of the steel industry? Suggestions from the industry recommend actively reducing production.

①In the third quarter, the losses in the steel industry worsened, with 21 out of 27 listed steel smelting companies experiencing losses, totaling over 14.5 billion yuan, with the total quarterly loss amount almost approaching that of the entire previous year. ②Industry experts believe that the main reason for the losses is the overcapacity in the steel industry itself, poor industry self-discipline, failure to actively limit production, oversupply of products, continuous decline in steel prices, slow decrease in raw material prices, and severe industry profit compression.

cls.cnOct 31 10:59 ET

Steel prices continue to fall, gross margin decreases, baoshan iron & steel Q3 performance drops by 60% | Interpretations

①Due to the steel prices falling more than the raw material prices, the profit margin continues to shrink, baoshan iron & steel's third-quarter performance has declined by more than 60%. ②At the same time, the decline in steel production and sales volume in the third quarter, as well as the impairment of assets extracted by the company in the third quarter, have had a certain impact on the company's performance in terms of both operational and financial data changes.

cls.cnOct 29 10:41 ET

This year's first increase! Inner Mongolia Baotou Steel Union Q4 rare earth concentrate price increase may exceed 6%, analysis: driven by the upward movement of price cycle | Quick read announcement

①Following the continuous "hanging" of the rare earth product listing price in September and October by China Northern Rare Earth, Inner Mongolia Baotou Steel Union has also announced an increase in the rare earth concentrate trade price for the fourth quarter of this year; ②It is worth noting that this is the first time Inner Mongolia Baotou Steel Union has increased the rare earth concentrate trade price since the beginning of this year; ③Due to the rise in neodymium praseodymium oxide prices in the third quarter, the industry has expectations for the price increase of the rare earth concentrate of Inner Mongolia Baotou Steel Union in the fourth quarter.

cls.cnOct 9 08:57 ET

Jiangsu Wujin Stainless Steel Pipe Group's net profit in the first half of the year decreased by more than 20% year-on-year, due to the decline in downstream demand and the underutilization of new production capacity. Interpretations.

①The demand for downstream petrochemical industry fell short of expectations, and the sales price of stainless steel welded pipes declined. In the first half of the year, the performance of Jiang su wujin stainless steel pipe group declined by more than 20% year-on-year. ②In August last year, a project of 0.02 million tons of high-performance stainless steel seamless pipes for high-end equipment manufacturing was put into operation by Jiang su wujin stainless steel pipe group. However, looking at the production and sales data of seamless pipes in the first half of the year compared to the same period last year, the production capacity of this project is not currently being utilized.

cls.cnAug 27 09:21 ET

After the change of the controlling shareholder, Nanjing Iron & Steel released its first 'mid-term report card', which shows a performance growth of over 20% against the trend. | Interpretations

In the first half of the year, Nanjing Iron & Steel achieved a net profit attributable to shareholders of RMB 1.233 billion, a year-on-year increase of 24.70%; The company plans to distribute a cash dividend of RMB 1.00 per 10 shares for the first half of the year, with a total dividend of RMB 0.617 billion. Apart from maintaining a high level of profitability in the steel business, Nanjing Iron & Steel has also contributed significantly to other income growth in the first half of this year. In addition, both management expenses and staff salaries have seen a year-on-year decrease.

cls.cnAug 19 11:20 ET

Lixing General Steel Ball Explores New Factory in Mexico

MT NewswiresOct 24, 2022 07:38 ET