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Chinese steel companies out of the red in Jan-Nov 2016 - CISA- The 18th China(Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
1/6/2017 steel tube expo-tube &pipe expo |
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According to the latest report of the China Iron and Steel Association, China''s large and medium-sized steel mills reported profits of 33.15 billion yuan (about 4.77 billion US dollars) in the first eleven months of 2016. That compared to a loss of CNY 52.91 billion in the same period of 2015.
THE CISA report said that of the 99 steel mills tracked by CISA, the average profit margin stood at 1.28% in the said period.
China''s manufacturing sector continues to expand, with the official manufacturing PMI, which surveys larger companies, standing at 51.4 in December, lower than the 51.7 in November but above the boom-bust line of 50 for the fifth straight month.
The steel industry still has a long way to go to increase profit margins, said Li Xinchuang, CISA vice-president, adding that this year the industry will continue to cut excessive and outdated capacity.
- The 18th China(Guangzhou ) Int’l tube
& pipe Processing Equipment Exhibition
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