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ChinaScope is the financial data and analytics platform for global financial professionals seeking critical quantitative and qualitative information on China. Our platform covers raw and processed data and information on companies, industries and the macro economy. We help our clients gather and... More
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  • Steel Industry Profitability Drops to Record Low, 25 Companies See Losses 0 comments
    Dec 6, 2011 1:41 AM | about stocks: CHINA, NEWS
    Source: ChinaScope Financial (Data), Beijing News
    +  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.

    Stocks: CHINA, NEWS
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