In the first quarter of the current year, the aggregate gross profit of steel enterprises in China's Hebei Province totaled RMB 9.02 billion ($1.45 billion), up 34.75 percent year on year and accounting for 21.76 percent of total gross profits of the overall industrial sector in the province, as announced by China's Ministry of Industry and Information Technology (MIIT).
Meanwhile, in the given period, total primary operating revenues of the steel enterprises in question amounted to RMB 329.709 billion ($53.2 billion), increasing by 7.01 percent compared to the same period of 2012 and accounting for 33.64 percent of total primary operating revenue of the industrial sector in the province.
In 2012, total output of crude steel in the province reached 180.484 million mt, accounting for 25.2 percent of total crude steel output in China. In the given year, the steel sector in Hebei Province achieved industrial added-value of RMB 368.53 billion ($59 billion), up 16.6 percent year on year.
According to the figures released by the China Iron and Steel Association (CISA), in the January-March period of this year the aggregate gross profits of large and medium-sized steel enterprises in China totaled RMB 2.486 billion ($398 million), compared to the overall net loss recorded in the same period last year.