Yesterday, at the “Liang Guanyu Investment Promotion and Shandong Huitong Metal Trade Logistics Park Promotion Conference†in Liaocheng Economic Development Zone of Shandong Province, Luo Bingsheng, deputy secretary of the China Steel Association Party Committee, revealed that the profit of 80 large and medium-sized steel enterprises under the China Steel Association in the first five months was 42.8 billion yuan. Total profit and sales profit margin both fell year on year. In the first half of the year , the cost increased by 20%. It is reported that due to the sharp increase in the price of imported iron ore and fuel in the first half of the year, the production and sales costs of large and medium-sized steel enterprises have increased by 20%. The 80 steel enterprises in the China Iron and Steel Association have a profit of 42.8 billion yuan, which means that the profit margin of product sales is only 2.91%, down 0.67% from the same period of last year, and the total profit is down 2% from the same period of the previous year. Luo Bingsheng, deputy secretary of the China Steel Association, said that steel companies urgently need to shift their focus to lower operating costs and improve the quality and efficiency of the industry. Demand for imported iron ore will decline. With the annual negotiations of the mining giants to abandon iron ore, the iron ore long coal mine will be introduced to the short-term pricing mechanism of quarterly, monthly and even spot, and the iron ore price index will become more and more direct. An important factor affecting the price of minerals. At present, the mining giants basically refer to the iron ore price index pricing introduced by Platts. Just last week, Platts announced the acquisition of Global Steel Group, the world's three major iron ore indices will change from three to two. At the same time, China has been preparing to create its own iron ore index. Yesterday, Luo Bingsheng revealed that the China Index will be launched soon, and the launch time will be during the year. In addition, the current total inventory of China's ports has exceeded 90 million tons, and domestic iron ore has increased substantially, and global crude steel supply exceeds demand. "I think that under this circumstance, China's demand for imported iron ore will not rise and fall this year." He said, "The overall price of global seaborne iron ore trade will fall."
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