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The profit rate of the steel industry in the first ten months was only 2.91%.
Luo Tiejun, deputy director of the Department of Raw Materials Industry of the Ministry of Industry and Information Technology, revealed today that the average sales profit rate of domestic key large and medium-sized steel enterprises in the first ten months of this year was only 2.91%. If the rare earth business of Baotou Steel is removed, the profit margin may be less than 2. %. This profit level has dropped by 0.08 percentage points over the previous nine months. The downward trend in steel prices is still continuing, and there is no turning point. At the end of October, the prices of the eight major steel products monitored by the China Iron and Steel Association fell from the previous month, and the declines were all higher than last month. The high wire, rebar and angle steel in the long products decreased by 9.66%, 10.60% and 4.64%, respectively; the plate, hot coil, cold rolled sheet and galvanized sheet in the sheet decreased by 8.12%, 8.67% and 3.40 respectively. % and 3.12%; hot rolled seamless pipe prices fell by 2.29%. According to statistics from the China Iron and Steel Association, the steel price index has fallen to the lowest point in the year. The CSPI steel composite price index was 122.72 points, down 9.58 points month on month, a decrease of 7.24%, an increase of 5.07 percentage points from the previous month. Yan Xiujun, general manager of Hebei Iron and Steel Group Sales Corporation, lamented: "Since the steel market has been sluggish since September, we still can't see signs of improvement today, just like the weather in autumn this year: the fog is filled and the haze is not scattered." The steel industry has been selling profit margins of less than 3% for two consecutive years, which means less than the current deposit interest rate." At the 7th Bohai Sea Steel Market Forum, Luo Tiejun, deputy director of the Department of Raw Materials Industry, Ministry of Industry and Information Technology Say. He revealed that the profit rate in the first 10 months of this year has fallen to 2.91%. If the rare earth business of Baotou Steel is removed, the profit level may not even reach 2%. In the middle of this month, Baosteel took the lead in introducing the December price policy, and all steel ex-factory prices were significantly reduced, ranging from 150 yuan to 400 yuan per ton. As a leading steel company, Baosteel's price cuts are believed to lead a wave of price cuts. Lang Gang, chief analyst of Lange Steel, pointed out that since August this year, steel prices began to fall. In the past three months, the cumulative decline in steel has exceeded 15%. After mid-October, it has entered a fast-rising channel. Due to the European debt crisis and the situation of domestic capital shortages, the downstream demand continued to be light. In October, steel mills and social inventories increased significantly. The lack of support in the steel market quickly turned into a downtrend channel. Coupled with the decline in upstream iron ore prices, dealers' perceptions of the market outlook have changed from cautious to pessimistic, generally based on shipments, further accelerating the rate of decline in market prices. However, Han Weidong, a senior expert of the Lange Steel Network expert group, believes that the sharp decline period has passed. In the future, the steel industry will be in the bottom of the shock period. It is expected that the supply and demand balance will be reached in February and March next year, and the situation will improve. .