It is reported that the rising output against profit decrease last year reflected China steel industry is placed in difficult circumstance.
According to the statistics from National Bureau of Statistics of China yesterday, China’s annual crude steel output closed to a record high of 627 million tonnes in 2010 up by 9.3%YoY. However, profit margin of steel industry stood the lowest among the domestic industries.
Mr Xu Xiangchun Chief Info Inspector of Mysteel told the reporter that “Crude steel output decrease since second half of last year reflected that the over supply situation on China steel industry has been improved due to substantial increase of producing cost and energy saving efforts.”
He said “Nevertheless, along with the further possible sharp rise of iron ore, coking coal and other raw materials prices, coupled with steel output rebound after the energy saving storm, steel industry will meet a more difficult operation circumstances in 2011.”