Total steel industry profits fell significantly in the first two months of 2019

According to the financial data of industrial enterprises released by the national bureau of statistics on March 27, in the first two months of 2019, the operating revenue of ferrous metal smelting and rolling processing industries above designated size nationwide was 963.39 billion yuan, up by 6.2% year on year.Operating costs were 898.34 billion yuan, up 10.4 percent year-on-year.Profit was 20.16 billion yuan, down 59.0% year-on-year.Factory gate prices of industrial products in the iron and steel industry dropped by 2.5 percent year-on-year, and their profits decreased by 29.06 billion yuan.

Zhu hong, a senior statistician in the industry department of the national bureau of statistics, pointed out that the profits of industrial enterprises above a certain size across the country have declined due to the obvious drop in profits in major industries such as steel and oil processing, as well as the impact of the mobile Spring Festival holiday.In addition, the growth of industrial production and sales slowed down slightly, which also affected the growth of corporate profits to some extent.

From January to February, the total profit of industrial enterprises above designated size nationwide reached 708.01 billion yuan, down 14.0% year-on-year.After calculating, excluding the Spring Festival, the total profit of industrial enterprises above the scale was flat and slightly decreased compared with the same period last year.