- May 02, 2018 -
The iron and steel industry is an industrial industry mainly engaged in industrial production activities such as ferrous metal minerals mining and ferrous metal smelting and processing, including the mineral mining industry of metal iron, chromium, manganese, etc., ironmaking industry, steelmaking industry, and steel processing industry. Subdivided industries such as ferroalloy smelting, steel wire and its products are among the country's important raw material industries. In addition, because iron and steel production also involves non-metallic mineral mining and other industrial products such as coking, refractories, and carbon products, these industrial categories are usually included in the steel industry.
From January to November 2012, the accumulated sales revenue was 324 billion yuan, a year-on-year decrease of 5.37%; the profit was 66 billion yuan, a decrease of 5.773 billion yuan; the profit and loss offset profit was a loss of 1.97 billion yuan, and the bank loan growth was 6.58% year-on-year. The financial expenses increased by 24.38% year-on-year. At the same time, the company’s asset-liability ratio continued to rise. By the end of November, it reached 68.67%, an increase of nearly 1.64 percentage points year-on-year. From January to November 2012, the national industrial added value increased by 6.8% year-on-year, the growth rate dropped by 10.5%, and the growth rate of national real estate development investment decreased by 13.2% compared with the same period of last year, in particular, the area of new housing starts fell by 7.2% year-on-year, and the same period in 2011 was Increased by 20.5%. This shows that the lack of demand in the downstream industry, coupled with excessive steel production capacity, the steel market oversupply contradictions are very prominent, steel sales is extremely difficult. "As the steel prices continue to fall, squeezing the profit margins of steel circulation companies, the capital chain breaks, further exacerbating the market panic, and the industry-wide losses followed.
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