+
Data
from the CISA shows that 25 steel companies, from a total of 77, saw losses in
October’s profits. Profit margin of industrial sales was only at 0.47% and
profit was at 1.37 billion yuan, down 82.6% MoM.
+
The
main factor in the profit decline is the increase in iron ore price. The
average CIF price of imported iron ore in China was $166.66 per ton from
Jan-Oct of this year, up 34.33% YoY; import was counted at 557.93 million tons,
up 10.86% YoY.
+
Related
Data: Growth Rate of Ferrous Metal Smelting And Pressure Smelting Processing, Import Volume of Iron Ore, Import Value of Iron Ore
+
Related
Companies: Angang Steel (HKEX: 0347), Angang Steel (SZSE: 000898), Anyang Iron & Steel (SSE: 600569), Baoshan Iron & Steel (SSE: 600019), Inner Mongolia BaoTou Steel Union (SSE: 600010), Chongqing Iron & Steel (SSE: 601005), Chongqing Iron & Steel (HKEX: 1053), General Steel (NYSE: GSI), Tangshan Iron & Steel (SZSE: 000709), Jinan Iron and Steel (SSE: 600022), Liuzhou Iron & Steel (SSE: 601003), Nanjing Iron & Steel (SSE: 600282), SGIS Songshan (SZSE: 000717), Shanxi Taigang Stainless Steel (SZSE: 000825), Hunan Valin Steel (SZSE: 000932), Wuhan Iron and Steel (SSE: 600005) , Xining Special Steel (SSE: 600117), Xinyu Iron & Steel (SSE: 600782), China Precision Steel (NASDAQ: CPSL)
Operating Comparables
Trading Comparables
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