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BEIJING, Nov 2, 2010 - (ACN Newswire) - Cheaponsale.com reports that in the second half of this year and the fourth quarter Chinese steel products export amount dropped remarkably from the first half year, the main reasons are international trade protectionism, RMB appreciation and export tax refunds.
Cheaponsale.com analyzes that the China steel supply exceeding demand contradiction has not changed, inventory has declined but still at a high level, third quarter, year-on-year growth of crude steel consumption is expected less than 9%.
This year steel enterprise profit will be higher than last year, but increased growth will not be too high.
In previous data, January-July national large and medium-sized steel enterprises cumulative total profit was 53.7 billion RMB, a year-on-year increase of 41.4 billion RMB.
China's iron ore import volume in the fourth quarter will have a certain degree of improvement.
China's policy in the fourth quarter will have less change; steel demand will continue to keep growing. While affected by raw material price increases, higher steel inventory and the winter drop in consumption level, steel market pricse will continue to present small-scope fluctuations.
China's crude steel production in September reached 47.9 million tons, a year-on-year drop of 5.9 percent; steel production reached 65.4 million tons, a year-on-year growth of 4.5%.
Contact:
Cheaponsale.com
Tel: +86-10-65569770
Email: my@cheaponsale.com
www.cheaponsale.com
Topic: Research / Industry Report
Source: Cheaponsale.com
Sectors: Metals & Mining, Daily Finance, Science & Nanotech
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From the Asia Corporate News Network
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