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China Steel Association: The current steel prices below the level of 1994 year
Source:Xin Steel Industry Date:2013/08/30
China Steel Association data shows that in 2012, the steel industry's asset-liability ratio reached 68.8%, there are 50 companies even beyonded 70%. Till the end of June,2013, composite steel price index dropped to 98.52, compared with the same period last year of 134.4, lower 35.88 points, a decline of 26.7%,became the lowest price in recent years.
Steel price index is based on 1994 prices calculated as 100, which means that the current steel price is lower than the 1994's price level. But even if net profit is only 0.43 yuan per ton, a lot of steel mills said that they still need to consider whether stopping production according to their loan percentage from bank,their rolling capacity, numbers of employees, etc.
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