According to the China Iron and Steel Association, in December last year the aggregate gross profit of Chinese large and medium sized steel producing enterprises came to CNY 3.022 billion up from CNY 1.222 billion in the previous month.

In the full year of 2011, these enterprises recorded a total gross profit of CNY 87.53 billion down 4.51% YoY. In December, the sales revenue of the enterprises in question reached CNY 291.423 billion. Meanwhile, the sales revenue figure for the whole of 2011 totaled CNY 3.62 trillion up 18.65% compared to 2010.

Based on the gross profit and sales revenue figures, it is estimated that the profit margin of Chinese large and medium-sized steel producing enterprises in 2011 was only 2.4% down from 2.91% in 2010.

(Sourced from Steel Orbis)
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