Major Privately-owned Steel Enterprises Gain 225% Surge in Profit

SHANGHAI, Dec.5 (SMM)－According to Chamber of Metallurgical Industries, from January to September, 145 major privately-owned steel enterprises (accounting for 80% output of total domestic privately-owned steel enterprises) have gained sales revenue of 1.33 trillion yuan, rising 43.93% and profit of 93.2 billion yuan, surging 225% on yearly basis. Song Jijun, vice president of Heibei Provincial Chamber of Metallurgical Industries, says China’s steel industry is entering into a new profitable cycle from the bottom of industrial loss in 2015 and rebound in 2016. (Economic Information Daily)

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