       The profit of the steel industry has once again shrunk. The reporter learned from the authoritative person of the China Iron and Steel Association that the 77 large and medium-sized steel mills included in the steel association's statistics had a total profit of 8.588 billion yuan in July, which was a decrease of 4.718 billion yuan compared with the profit of 13.305 billion US dollars in June. 35.45%, the profits and taxes reached 14.741 billion yuan in the same period, down 21.59% from the previous month.
The source told reporters that the total profit of the 77 large and medium-sized steel mills from January to July was 65.208 billion yuan, although it was 20.6% higher than the same period last year. "But it is worth noting that the current steel industry profits have begun to fall sharply, and the steel industry will face a more severe situation in the second half of the year," the source said.
It is worth noting that in July, large and medium-sized steel mills achieved a sales profit margin of 2.75%, a decrease of 1.42% from the previous month. According to the latest data released by the National Bureau of Statistics, in the first seven months, the national industrial enterprises above designated size achieved a main business income of 458.544 billion yuan, a year-on-year increase of 29.8%, and the main business income margin was 6.11%, compared with the steel industry. The sales profit margin is far below this average.
“Because the price of imported iron ore has risen sharply, it has made production and operation more difficult, and steel companies are still in a low-efficiency state.†The above-mentioned steel association people admit that the high cost of iron ore is still an important factor restricting the steel industry. In July, the import of iron ore was 54.548 million tons. From January to July, the total imported iron ore reached 389 million tons, an increase of 7.81% over the same period of last year. The average import price was 163 US dollars/ton, and the price has increased by 40%. This also means that the steel industry paid an additional 18.238 billion US dollars for iron ore imports, equivalent to about 119 billion yuan.
Coincidentally, the semi-annual report released by Baosteel on August 31 reaffirmed the above viewpoint. According to the semi-annual report, Baosteel achieved operating profit of 6.76 billion yuan in the first half of the year, down 36.82% from the same period of the previous year. The main reason for the decline in performance was that the board of directors of Baosteel indicated that it was affected by the sharp increase in the prices of major raw materials such as ore.
On the other hand, the high output of the steel industry is also worrying. According to the latest statistics of China Iron and Steel Association, crude steel output in July was 59.3 million tons, an increase of 15.49%. From January to July, the cumulative crude steel output was 41.364 million tons, a year-on-year increase of 10.3%.
Among them, the crude steel output of large and medium-sized steel mills included in the statistics of China Steel Association was 50.013 million tons in July, an increase of 11.03% year-on-year. The cumulative crude steel output from January to July was 345.17 million tons, an increase of 7.2%. According to projections, the annual steel output will exceed 700 million tons.
Baosteel said that from the external environment, the stability and recovery of the world economy in the second half of the year is still uncertain. After experiencing rapid growth in the past few years, the growth rate of domestic auto, home appliance, machinery and other industries will slow down. In the third quarter, the price of steel in the domestic market is hard to pick up. The price of imported iron ore is still at a high level during the same period. The company will continue to face greater cost and profit pressure.
The reporter learned that since August, on the one hand, the rising cost of mining prices has risen. On the other hand, steel prices have also maintained high fluctuations under the support of costs. As of August 28, the average price of domestic rebar is 4,954 yuan / ton, wire rod 5058 yuan / ton, hot rolled sheet 4837 yuan / ton, medium and heavy plate average price 4879 yuan / ton, cold rolled sheet average price 5550 yuan / ton .
“The steel industry is not optimistic in the second half of the year, especially in the case of unstable macroeconomic conditions, which has added a lot of variables to the steel industry.†Xu Xiangchun, director of steel network consulting, said in an interview that from the macro environment, the world The economic and financial market is facing uncertainties and there is a risk of a double dip in the economy. Under such a background, the downstream industries such as real estate and automobiles will face weakness compared to the previous ones, indicating that demand for steel will slow further. .
In particular, he pointed out that it is worth noting that on the one hand, the downstream market is not prosperous, and on the other hand, the high prices of upstream raw materials, coupled with the current tightening monetary policy of the country, will face great capital cost pressure in the later stage. Xu Xiangchun said that under the dual role of upstream high monopoly and downstream high output, iron ore and coking coal and sea freight will remain at a high level in the second half of the year, which means that the high cost pressure of the steel industry will continue.
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