It is reported that China steel industry suffered a lot from the continuous increasing imported iron ore prices in the past 2010 realizing CNY 89.7 billion with the sales and profits ration hitting at 2.91% which was much lower than the 6.2% averaged level of national industrial enterprises.
Among the surveyed steel enterprises, most of them gained slight profits or posted profit losses in 2010 which mainly caused by the continuous hiking output costs.
Chinese imported iron ore prices eyed a growth of 61% to USD 145 per tonne in the close of 2010 from the USD 90 per tonne in Jan on average. As calculated, the full-year averaged ore prices were up by USD 40 per tonne to USD 128 per tonne from one year ago, so the total output costs hiked by nearly CNY 196 billion pushing China large and medium enterprises' production costs to grow up by 30.7%YoY.
In 2010, China crude steel output came at 626.65 million tonnes up by 53 million tonnes increase of 9.3%YoY including the key enterprises output accounted for 86.2% of the total volume up by 4.2%YoY.
Among the surveyed steel enterprises, most of them gained slight profits or posted profit losses in 2010 which mainly caused by the continuous hiking output costs.
Chinese imported iron ore prices eyed a growth of 61% to USD 145 per tonne in the close of 2010 from the USD 90 per tonne in Jan on average. As calculated, the full-year averaged ore prices were up by USD 40 per tonne to USD 128 per tonne from one year ago, so the total output costs hiked by nearly CNY 196 billion pushing China large and medium enterprises' production costs to grow up by 30.7%YoY.
In 2010, China crude steel output came at 626.65 million tonnes up by 53 million tonnes increase of 9.3%YoY including the key enterprises output accounted for 86.2% of the total volume up by 4.2%YoY.
(Sourced:www.caing.com)
Tags: ore prices, China crude steel output, import export data
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