Japan and South Korea's steel giants report "stepping on the brakes" in 2019

From: JUNNAN STEEL NEWS
publisher: Gloria Wong
Time: 2020-03-04
Summary: Japan and South Korea's steel giants report "stepping on the brakes" in 2019

In 2019, due to factors such as rising iron ore prices andslowing growth in steel demand, profit decline has become a common problemfaced by domestic and foreign steel companies. According to the data releasedby the China Iron and Steel Industry Association, in 2019, the total profit ofsteel companies' steel companies was 188.994 billion yuan, a year-on-yeardecrease of 30.90%; the sales profit margin was 4.43%, a year-on-year decreaseof 2.63 percentage points. At the same time, the Japanese and South Koreansteel giants' 2019 performances are also "on the brakes."

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