On October 9, the Economic and Information Commission of China’s Sichuan Province issued the operating results of the vanadium and titanium steel sector in the province in the January-August period of this year.
In the given period, sales revenues of large and medium-sizes vanadium and titanium steel enterprises in Sichuan totaled RMB 213.195 billion ($33.68 billion), up 10.88 percent year on year. Meanwhile, the aggregate after-tax profit of the enterprises in January-August was RMB 1.143 billion ($181 million), down 79.71 percent on year-on-year basis.
The commission stated that the negative impact of the economic crisis in the euro zone as well as the weak global economy contributed to the sharp fall in profit in the province’s vanadium and titanium steel sector in the given period.