Over January-August, Chinese steel mills’ overall performance improved substantially, and the profitability in steel sales among the member mills of the China Iron & Steel Association (CISA) averaged 6.2%, or up 2.56 percentage points on year, and their debt-asset ratio reduced 1.68 percentage points on year to 61.43% by the end of August, He Wenbo, CISA’s executive chairman, shared at a industrial forum on September 24.
“In general, China’s steel industry had achieved a
relatively healthy performance over January-August, though it may face greater
pressure in maintaining the stability and enhancing its profitability for the
rest of this year with the complexities in and out of the country, and greater
challenges in maintaining security and stability in the supply chain,”