Gross profit of Chinese steel industry down 28.1 percent in Jan-Apr

Thursday, 30 May 2019 11:46:44 (GMT+3)   |   Shanghai

China’s Ministry of Industry and Information Technology (MIIT) has announced that, based on the data of the National Bureau of Statistics (NBS), in the January-April period this year China’s steel industry registered a gross profit of RMB 77.45 billion ($11.22 billion), down 28.1 percent year on year. In April alone, the Chinese steel industry achieved a gross profit of RMB 35.9 billion ($5.2 billion), up 14.7 percent year on year.

Meanwhile, medium and large scale steel enterprises in China registered a gross profit of RMB 60.7 billion ($8.8 billion) in the January-April period of the current year, down 19.38 percent year on year, while they recorded a gross profit of RMB 23.0 billion ($3.3 billion) in April, rising by 36.21 percent as compared to the month of March, showing that the steel industry’s profitability has improved somewhat compared to earlier in the year.

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