China Iron Industry's Profit Increase will Slow Dwon in 2005

Resource from: cbcc Likes:2936

Jan 17,2005

According to the study report of Mr.Jiang yuan, a senior statist of the State Statistic Bureau, during the first 11 months of 2004, the top 5 profitable industries were petroleum exploitation, iron, chemical, electronic communication and coal; the profit made by these industries took up 56.7 percent of the whole profit of China's industry. In accordance with the report, in 2005 the total profit of China's industry will keep increasing but will not as dramaticly as it increased in 2004 finance year, maybe 2005 finance years' total profit will up 20% from 2004. Concerning the iron industry in 2004, the iron price had experienced so many ups and downs but as a result of the state's macroeconomic control in 2004, China's iron market will develop steadily. Predictively, in 2005 the increase of China's iron price will change to cost-push type from the last years demand-push type. In general, iron price increase will continue but not so sharply as 2004 finance yaer. In 2005, profit of iron industry will be centered largely in the both end of this year and the total yearly profit increase will less than last year.

(cbcc)

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