• Steel Market Insider

    We strive to let you one step ahead of the market

Steel News
Advanced search
    Key words
  • Search By
  • Date
  • Classification
  • Region
Advanced search

Chinese steelmakers’ March profits turn better

  • A
  • A
  • A
It’s reported that the Chinese steelmakers’ sales profits turned better in March due to higher demand and lower iron ore imports.

According to statistics of China’s customs, the country imported 62.87 million tons of iron ore in March, decreasing by 3.2% from a month earlier while increasing by 5.7% year on year. The average import prices of iron ore remained flat at US$138.2/ton.

It’s analyzed that the decreased iron ore imports were caused by lower capacity utilization rate of Chinese steel mills in March.

In fact, the Chinese steelmakers suffered from the profit losses in the first two months of this year and they’ve become more cautious of purchasing raw materials.

However, since the market demand has been recovering from the second half of March, the steel inventory has been decreasing gradually, helping the Chinese steelmakers return to gain.

For the prospect, analysts predicted that the Chinese steelmakers might have better profits in April, driven by rebounding demand from downstream end users.

News Date 12 Apr 2012 11:04:35 reported by Ruth Wang

AK Steel Q4 profit drops...
Finance and economy
28 Jan 2015 14:21
Canadian First Nickel posts 2015 outlook...
Finance and economy
28 Jan 2015 13:49
Taiwan’s China Steel Corp. posts 23% increase in p...
Finance and economy
27 Jan 2015 10:05
Taiwan's CSC plans to cut operating costs ...
Finance and economy
26 Jan 2015 12:17
Tokyo Steel posts higher profit in Apr-Dec...
Finance and economy
23 Jan 2015 09:17
Most Popular