Sinosteel's revenue in November was 32.018 billion yuan, an annual decrease of nearly 30%.
(Photo by reporter Lin Jinghua)
[Reporter Lin Jinghua/Report from Taipei] The steel market is sluggish. Sinosteel (2002)’s revenue in November was 32.018 billion yuan, a year-on-year decrease of nearly 30%. Steel is expected to rebound the fastest steel market in February and March, which is better than the second quarter previously expected.
Sinosteel's self-concluded November revenue was 32.018 billion yuan, a monthly decrease of 1.14% and an annual decrease of 29.29%. The first November revenue was 418.596 billion yuan, an annual decrease of 2.04%. The annual growth rate of cumulative revenue is the first time since this year. Abatement.
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Sinosteel's monthly market has remained flat since October, and the price in the fourth quarter has been reduced by 1,000 to 2,000 yuan per ton. The consolidated revenue in November was released, which was a decline from the previous month, but better than September.
Yang Yuekun, vice president of Sinosteel Finance, said that Sinosteel's sales volume of steel products in November was 1 million tons, an increase of 33,000 tons from the previous month. When receiving orders, the domestic demand was sluggish at that time, and they turned to export sales. The overall market was low, so the consolidated revenue in November did not increase but decreased.
However, Baosteel, an important indicator in China, opened the market yesterday, and one of the main hot-rolled steel products rose by 200 yuan per ton; Important reference information for monthly and first-quarter prices.
Huang Jianzhi said that the prices of steel mills in Europe and the United States have recently increased, and steel mills in China and India have also opened up. It is expected that Vietnam's Ha Tinh and Hoa Phat steel mills should follow the trend.
According to Huang Jianzhi's analysis, one of the keys to China's Baosteel's rise is the relaxation of China's closure system, and the high production costs of steel mills have led to losses. After China's closure is lifted, it will also promote consumption and accelerate the recovery of the overall economy. Huang Jianzhi believes that the rapid If so, the rebound strength will emerge in February and March next year, which is better than the second quarter originally expected.
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