On May 25, the China Chamber of Commerce for Metallurgical Enterprises (CCME) held an online conference regarding the private sector steel sector.
In the first quarter of the current year, Chinese private steel enterprises’ outputs of pig iron, crude steel and finished steel amounted to 116 million mt, 146 million mt and 221 million mt, down 13.8 percent, 12.06 percent, 5.17 percent, respectively, year on year.
In the first quarter this year, the overall Chinese steel industry posted an overall profit of RMB 42.24 billion ($6.3 billion), down 49.7 percent year on year, while the private sector steel enterprises which are part of the CCME posted a gross profit of RMB 30.3 billion ($4.5 billion), down 43.5 percent year on year.