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PrintIn the January-February this year, Hebei Province's metallurgical enterprises produced crude steel, finished steel and pig iron in aggregate volumes of 26,095,300 tonnes up by 37.46% YoY, 26,748,100 tonnes up by 36.98% YoY and 25,442,200 up by 30.82%YoY respectively.
The data reveal that the product sale of these enterprises in Hebei Province has slackened and that their profits have begun to decline. In January to February, major metallurgical enterprises' sales-output ratio stood at 93.93%, registering a decrease of 0.30 percentage points. The cause of the enterprises' profit decrease has been the rise in the price of raw material and coal.
So far in 2010, the purchase price of domestic concentrated iron fines has risen by more than CNY 100 per tonne. Meanwhile, foreign suppliers have limited or halted supplies of iron ore based on long-term agreements, and so domestic enterprises have been forced to purchase iron ore on the spot market where the CIF price exceeds USD 140 per tonnes.
Sourced from SteelOrbis
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