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27 Domestic Steel Mills Lose Profits Against BHP Billiton 1/8

2011/8/30 9:33:00 33

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The steel industry once again handed in a less beautiful semi annual report.

Wind29 day statistics show that as of press release, according to Shen Wan industry classification, two cities have included Baotou Steel shares, Maanshan Iron and Steel shares, including 27 listed steel enterprises to disclose the first half of 2011 performance report.

As the price of upstream iron ore continues to rise, although the operating income of iron and steel enterprises has increased substantially, net profit has dropped sharply compared with the same period last year.

Wind data show that in the first half of 2011, the 27 listed steel companies realized a net profit of 9 billion 978 million yuan attributable to shareholders of the parent company, down 15.7% from the same period last year.

Among them, Guangzhou Iron and Steel Group, Anshan Iron and Steel Co., Maanshan Iron and Steel Group, Liuzhou Iron and Steel Group, Laigang and Benxi Iron and Steel shares have seen a sharp decline in net profit, the decline has reached 362.7%, 92%, 70.2%, 39.6%, 27.1% and 13.5%.

There is no coincidence.

steel

Listed companies have announced semi annual reports. One of the three mines, BHP Billiton released 2010 to 2011 fiscal year report, which was boosted by the rising price of iron ore. The net profit of the entire fiscal year was $23 billion 650 million, or about 151 billion 100 million yuan, of which the net profit in the first half of 2011 was 13 billion 124 million US dollars, or about 83 billion 860 million yuan.

Also because of the "iron ore", the other three mines are subject to "

Price

The rise has been full of profits, and on the other hand, the steel industry has been trapped in the difficult position of "raw material pulling costs".

According to the latest data from the joint metal network, the current external market of iron ore is very strong, and the mainstream quotation of the 63.5 printing powder is 187 to 189 US dollars per ton.

Listed companies semi annual report, due to iron ore and energy prices rise, steel enterprises profit margins decline has become a common phenomenon.

Take Wuhan Iron and Steel shares as an example, the first half of this year's business revenue was 50 billion 822 million yuan, an increase of 23.22% over the same period; the net profit attributable to shareholders of listed companies was 1 billion 226 million yuan, an increase of only 14.73% over the same period.

The operating profit rate of steel products was 7.32%, which was 1.77% less than that of the same period of last year.

"From the perspective of profitability, 16 of the 27 steel companies have seen gross margin decline, accounting for 59.3%, and 15 companies have seen a decline in net sales interest rates."

The CITIC Securities industry analyst told the economic reference daily.

He pointed out in particular that Angang and Maanshan Iron and steel share declined by more than 50%.

"A lot of profits of steel enterprises come from non steel industries and mines. The profitability of the real steel industry is very worrying."

An authority of the China Steel Association has said in an interview with the economic reference daily.

He told reporters that China Steel Association has done some research on this issue. From the profit composition of Enterprises above 10 million tons, the total profit from 1 to June is 33 billion 88 million yuan, but the main business of the steel industry is only 17 billion 750 million yuan, accounting for 53.64% of the total profit.

It is understood that this year, the main business of iron and steel

Moisten

Has been declining.

According to an internal document from the Steel Association issued by the economic reference daily, the total profits of the member enterprises incorporated into the Steel Association statistics were $56 billion 374 million in the first half of the year, up 9.85% over the same period last year.

The profit margin was 3.14%.

In June, the profit was $13 billion 305 million, a record high.

However, excluding investment income and operating expenses, the main business profit margin is only 2.55%, down 0.47 percentage points from the same period last year.

According to Wind statistics, another important indicator used to reflect profitability of the steel industry is also declining.

In addition, according to the data disclosed, the inventory of the steel companies in the first half of this year is up to 142 billion 623 million yuan, a further increase of 124 billion 72 million yuan at the end of 2010, which indicates that the cash flow pressure of enterprises has increased.

Affected by the downturn in the industry, steel stocks have been underperforming this year.

At present, a total of 11 listed companies in the two cities have fallen through net assets, of which 7 have occupied iron and steel stocks.

"Iron and steel industry will still face great pressure in the second half of the year."

Xu Xiangchun, chief consultant of my steel network, told the economic reference daily that from the macro environment, the trend of global economic and financial market is facing uncertainty. The possibility of economic slowdown in the second half of this year is great. Meanwhile, downstream industries such as real estate and automobiles are also facing weakness, which means that the demand for steel will further slow down.

In addition, under the influence of tighter monetary policy, enterprises will face great financial pressure.