Aggregate sales revenues achieved by large and medium-sized steel enterprises in China in March this year amounted to RMB 307.975 billion ($50.24 billion), up 10.78 percent month on month, while their aggregate net profit amounted to RMB 530 million ($86.46 million), following an aggregate net loss recorded in the previous month, according to a report issued by the China Iron and Steel Association (CISA) on April 25. The number of steel enterprises which recorded net losses in March declined to 30, compared to 38 in February.
In the first quarter of the current year, large and medium-sized steel enterprises in China recorded aggregate sales revenues of RMB 868.897 billion ($141.75 billion), down 0.79 percent year on year, while incurring an aggregate net loss of RMB 2.329 billion ($0.38 billion), having a recorded an aggregate net profit in the same quarter of the previous year. In the first quarter this year, 40 steel enterprises registered net losses, 13 more than in the corresponding quarter of the previous year.