China steel industry profit in H1 up by 22pct YoY
China Knowledge quoted according to statistics released by the National Development and Reform Commission that steel industry in China earned a combined profit of CNY 155 billion in the first half of this year up by 22%YoY.
The profit of the ferrous metal mining and dressing industry surged 61.7%YoY to CNY 44.3 billion and that of the ferrous metal smelting and pressing sector rose 6.9%YoY to CNY 80.5 billion.
The commission said that China crude steel output increased 15.5%YoY to 59.3 million tonnes in July and the growth rate was 13.3 percentage points higher than that in the same month of 2010.
In the first seven months, China, the largest steel maker in the world, saw its output of crude steel rise 10.3%YoY to 410.36 million tonnes. The growth rate was 7.9 percentage points lower than that in the same period of last year.
The country output of steel products rose 13%YoY to 514.01 million tonnes in the first seven months slowing from a 24.1% increase in the corresponding period of last year.
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