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Coal and steel industry is now recovering growth
Data released by the National Bureau of statistics show that this year, 1-5 months, the national scale industrial enterprises realized a total profit of more than two billion yuan, an increase of 6.4%, the growth rate down 0.1 percentage points lower than the 1-4 month. In the industry view, with the inventory, to the production capacity policy gradually deepening, the industry will continue to maintain stable operation.
Specifically, in 41 industrial sectors, the total profit of the 32 sectors increased, the 1 sectors were flat, 8 industry reduction. It is worth noting that, due to the early product price rise, structural improvement and low base, in May coal, iron and steel, nonferrous metals and other major energy raw materials industry profits increased significantly. Among them, the coal mining industry profit growth of 2.5 times, ending the continued to decline in recent years in the state; in the ferrous metal smelting and rolling processing industry profit growth of 1.6 times, non-ferrous metal smelting and rolling processing industry growth 32.1%, were a continuation of the April since the rapid growth trend.
"Since this year in March and April, the futures market of commodities such as crude oil prices rose significantly, under the same operating costs and stronger upstream commodity prices significantly pulled up the profit level of the steel and coal industries." Wang Jun, Vice Minister of China's Ministry of Information Center for international economic exchanges, told the Beijing Daily reporter. "In addition, the destocking was gradually deepened, some of the surplus production capacity is to repel, into the production season after shrinking market demand rebound, also contributed to the previously high inventories industry rebound."
"The restructuring of Baosteel and Wuhan Iron and steel has entered a substantive stage, believe that in the future similar to the annexation of large enterprises will become more and more frequent, which to resolve the excess capacity is very good, although with the changes in the market, the profits of industrial enterprises will fluctuate, but overall has stabilized the situation will not change." Shen million Hongyuan chief macroeconomic analyst Li Huiyong, pointed out that due to a significant decline in five months of private investment, enterprise efficiency decline, stable economic situation, monetary policy still to be overweight.
Specifically, in 41 industrial sectors, the total profit of the 32 sectors increased, the 1 sectors were flat, 8 industry reduction. It is worth noting that, due to the early product price rise, structural improvement and low base, in May coal, iron and steel, nonferrous metals and other major energy raw materials industry profits increased significantly. Among them, the coal mining industry profit growth of 2.5 times, ending the continued to decline in recent years in the state; in the ferrous metal smelting and rolling processing industry profit growth of 1.6 times, non-ferrous metal smelting and rolling processing industry growth 32.1%, were a continuation of the April since the rapid growth trend.
"Since this year in March and April, the futures market of commodities such as crude oil prices rose significantly, under the same operating costs and stronger upstream commodity prices significantly pulled up the profit level of the steel and coal industries." Wang Jun, Vice Minister of China's Ministry of Information Center for international economic exchanges, told the Beijing Daily reporter. "In addition, the destocking was gradually deepened, some of the surplus production capacity is to repel, into the production season after shrinking market demand rebound, also contributed to the previously high inventories industry rebound."
"The restructuring of Baosteel and Wuhan Iron and steel has entered a substantive stage, believe that in the future similar to the annexation of large enterprises will become more and more frequent, which to resolve the excess capacity is very good, although with the changes in the market, the profits of industrial enterprises will fluctuate, but overall has stabilized the situation will not change." Shen million Hongyuan chief macroeconomic analyst Li Huiyong, pointed out that due to a significant decline in five months of private investment, enterprise efficiency decline, stable economic situation, monetary policy still to be overweight.
