China: Profits of key steel firms rise 1.5 times, y-o-y, in Jan-Aug’21

According to data published by the China Iron and Steel Association (CISA), key steel companies realised profits of 290.4 billion yuan (nearly $45 billion) in the Jan-Aug’21 period – a year-on-year increase of 1.5 times. The average sales profit rate of leading steel companies was 6.2%, a y-o-y increase of 2.56 percentage points. Companies’ asset-liability ratio in end-Aug was 61.43%, a y-o-y decrease of 1.68 percentage points.