China: Steel Profit Halves in Year to April
OREANDA-NEWS. June 27, 2012. 6.3 percent, coke by 5.2 percent, and ferroalloy by 9.9 percent. China exported 5.23 million tons of steel products and imported 1.32 million tons of steel, up 560,000 tons and 190,000 tons respectively from April. Coke exports were 140,000 tons, up 100,000 tons.
The domestic steel price index fell by 2.76 points from April to 118.76 points. The prices of 6.5 mm high-speed wire rod, 20 mm medium plate and 1.0 mm cold rolled coil were 4,237 yuan a ton, 4,298 yuan a ton and 5,105 yuan a ton, down 3.7 percent, 3.6 percent and 1.6 percent respectively month-on-month.
In the first four months, the steel industry achieved 39.5 billion yuan in profit, down 49.5 percent, of which ferrous metal ore mining and dressing accounted for 21.2 billion yuan and steel smelting and processing made up 15.1 billion yuan.