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.Madannname News Agency (madanname.ir): According to this company, the increase in raw material costs outpaced the rise in steel product prices, resulting in a significant reduction in the margin between product sales prices and raw material purchase costs.
According to GMK, Baosteel produced 36.6 million tons of pig iron and 38.6 million tons of steel during this period, and sales of commercial billets and rolled products reached 39.1 million tons. Export orders increased by 13.6 percent to 5.87 million tons.
A 34.9 percent jump in coking coal prices in Shanxi Province was the main factor exerting pressure on profitability this quarter. At the same time, steel prices in China’s domestic market fell by 1.9 percent compared to the previous quarter, and the Platts iron ore index with 62 percent grade also dropped by 7.9 percent.