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[Ferro-Alloys.com]The total operating revenue of Baosteel between Jan. to Sep. was RMB142.264billion, decreasing by 2.42% Y-O-Y. The net profit attributable to shareholders of the listed company declined by 56.99% to 4.642billion, and the net profit excluding non-recurring gains and losses increased by 55.68% to RMB 4.675 billion.

 

In the first three quarters of 2013, the supply and demand condition of steel market had no much change. As the raw materials and sales price of steel rebounded slightly, the large and medium steel mills in China changed the sustained loss situation in the first half. But the whole industry still maintained the meager profit. According to the statistics, the net profit of the company in the first half year declined by 61.47% to RMB3.703billion while the net profit decreased by 56.99%. It could be seen that the decreasing rate started to decline.

 

Under the weak market condition, Baosteel was committed to the long-term planning—creating the global most competitive steel service provider. Baosteel would rely on Baosight (Engineering systems solutions provider) and Shanghai Steel Trading Center/Baosteel.com.cn (Trading platform for electronic business) to develop the steel business, achieving the significant transform from the single steel production to the comprehensive Steel service provider.