Dilemma, most of the domestic steel mills had shutdowns.
"The price of steel has been close to the cost line, some varieties of steel and even sell 1 ton to 400 yuan loss, the worst-case scenario, the company selected part of the blast furnace shutdowns. Hebei, vice president of a steel mill Mr Lim told reporters on August 3 .
Mr. Lin where the steel has been stopped in July, a blast furnace, recently stopped a blast furnace. In accordance with Mr. Lin expected the maintenance shutdown to last at least a month.
This situation arises not only in Mr. Lin a steel body, entered into since July, including Wuhan Iron and Steel and Liuzhou Iron and Steel including large and medium-sized steel mills shutdowns. Shougang Group, Hebei Iron and Steel, Tangshan Iron and Steel, Jinan Iron and Steel, Rizhao Iron and Steel, Sha Steel, Wuhan, Hubei steel, cold steel, Lianyuan Steel, Liuzhou Iron and Steel, Heavy Steel, Kunming Steel and so has been or is about to blast furnace shutdowns.
Industry downturn is the main reason for the shutdowns, the recent data released by the China Steel Industry Association show, the first half of the 74 member steel enterprises realized a total profit of only 2.385 billion yuan, representing a substantial decrease of 54.549 billion yuan, a decrease 95.81%. Loss-making enterprises amounted to 14.248 billion yuan, the loss of 33.75%.
CISA vice president Zhang Changfu said: "The industry profit level has been very low and at a loss edge, if the net investment income, the main steel industry is actually at a loss."
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