The steel, gold, nine and silver peak seasons are here? Sinosteel's October revenue increased by more than 30% year-on-year

The steel industry ushered in the traditional peak season. (Photo by reporter Lin Jinghua)

Gold 9 silver 10? Demand in the steel market is recovering, and Sinosteel (2002) has delivered outstanding results in October. Today (10th) it was announced that the consolidated revenue in October was 32.04 billion yuan, and the monthly revenue returned to more than 32 billion yuan, a significant increase of 30.98% over the same period last year, an annual increase of more than 30%; the cumulative consolidated revenue in the first ten months of this year reached 288.71 billion yuan, an annual increase of 8.44%, and the overall revenue performance was better than the same period last year.

Compared with September’s revenue of 31.001 billion yuan, October increased by approximately 1.039 billion yuan, a monthly increase of approximately 3.35%, which not only continued the revenue growth momentum, but also set a new single-month high this year. However, from the perspective of shipments, Sinosteel Group shipped 982,000 tons in October, a monthly decrease of 5.66% from 1.041 million tons in September. This was mainly affected by factors such as fewer working days in October, some downstream customers pulling goods in advance in September, and the impact of Typhoon Qiangbi on export shipments. Although shipments decreased compared with the previous month, revenue still bucked the trend and rose, reflecting the support for revenue from factors such as rising steel prices and product mix.

Looking forward to the fourth quarter, Sinosteel pointed out that although the performance of the international export steel market is mixed, the domestic market still has demand for technological plant construction, and the subsidiary's single rolling mill has strong sales orders to the United States, which has driven the performance of domestic shipments. It is expected that the overall steel market is expected to maintain steady development in the fourth quarter.