Jiangsu Industry "to Promote Stability and Stable Response"

The Ministry of Industry and Information Technology recently announced that in the first three quarters, the main business of China's iron and steel industry realized a profit of 358.7 billion yuan, up 65.3% year-on-year, and revenue of 5.66 trillion yuan, up 14% year-on-year. Among them, the main business income of key large and medium-sized iron and steel enterprises was 3.06 trillion yuan, an increase of 14.5% over the previous year, and a profit of 230 billion yuan, an increase of 86% over the previous year. By the end of September, the debt ratio of China's major large and medium-sized iron and steel enterprises was 66.1%, down 3.9 percentage points from the same period last year.

The steel price index in the first three quarters averaged 116.3 points, up 11.9% year-on-year. The steel price is at a relatively high level. It is expected that the steel price will still run at a high level from the fourth quarter of this year to the beginning of next year, but in the long run, the trend of high steel price is unsustainable.

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