HomeProduct Complimentary download Key steel mills in Sichuan suffer losses in January to April 2013

Key steel mills in Sichuan suffer losses in January to April 2013

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Publish time: 8th June, 2013      Source: ChinaCCM
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Sichuan Provincial Economic and Information Commission announced the production and operation performance of vanadium and titanium steel mills based in Sichuan province in January to April 2013. Data show that the sales revenue of vanadium and titanium steel mills amounted to CNY 125.88 billion up 17.11% and their profit in the same period hit CNY 1.18 billion hiking 35.83% year on year.

At present, construction steel price averaged at CNY 3700 per tonne, down CNY 400 per tonne compared to the equivalent time of last year due to sluggish sales in Sichuan province.

Despite rising profit in part medium and small-sized steel mills, major steel producers in Sichuan encountered heavy losses, especially for Panzhihua Steel suffered a deficit of 1.67 billion yuan in Jan.-Spr., 2013. And other steel mills in red include Chuanwei Steel, Desheng Steel Group, Xichang New Steel Enterprise, Sichuan Southwest Stainless Steel, ect.

The person in charge from Sichuan Provincial Economic and Information Commission expressed that the contradiction between demand and supply was intensified by dampened steel exports and slowed construction projects in China. More importantly, due to structural overcapacity, main steel mills based in Sichuan province may continue to suffer losses on disappointing steel prices.