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“In October, the profit of the whole industry was at the lowest level in history. The profit margin of 77 large and medium-sized iron and steel enterprises was only 0.47%; the profit was 1.375 billion yuan, down 82.6% from September.†Luo Bingsheng, deputy secretary of the China Steel Association Party Committee The 9th China Steel Industry Chain Strategic Development and Investment Summit said. The steel industry has entered the most critical moment of the year. According to an internal statistics obtained by the Economic Information Daily reporter, in October, 77 key large and medium-sized steel enterprises achieved a total industrial output value of 271.28 billion yuan, a decrease of 348 million yuan from the previous month; and a sales income of 290.06 billion yuan, a decrease of 7.13% from the previous month. The realized profit was 1.375 billion yuan, a decrease of 6.52 billion yuan from the previous month, a decrease of 82.59%. Among them, enterprises with a total investment of more than 5 million tons realized a profit of 1.528 billion yuan, a decrease of 5.292 billion yuan, a decrease of 77.6%. It is worth noting that the loss of the steel industry is also expanding. In September, 9 out of 77 large and medium-sized steel companies lost money, and in October they increased to 25 losses, and the loss increased to 32.5%; 25 companies lost 2.125 billion yuan. Even Baosteel and Baotou Steel, whose profits are in the forefront, accounted for only 352 million yuan and 322 million yuan respectively. Behind the embarrassment of the steel industry, the iron ore controlled by the three major mines is still “grazing†the meager profits of the entire industry. Statistics show that from January to October this year, China imported 55,793,400 tons of iron ore, an increase of 10.86% over the same period of the previous year; the average landed price of imported iron ore was 166.66 US dollars / ton, up 34.33% over the same period of the previous year. "According to the price increase of imported ore from January to October this year, due to the increase of 23.762 billion US dollars over the same period of the previous year, it is about 154.453 billion yuan, which is nearly twice the profit of 84.167 billion yuan for large and medium-sized steel enterprises in the same period." Luo Bingsheng It is extremely unreasonable to say that the sharp profits of upstream mines have caused huge losses to the global steel industry. “High production, high cost, low efficiency.†Luo Bingsheng summarized the current situation of the steel industry. He told the Economic Information Daily that due to the substantial increase in the actual procurement cost of raw materials, the total cost of actual product sales of 77 large and medium-sized steel enterprises from January to October reached 2.8079 trillion yuan, an increase of 25.2% over the same period of the previous year. Compared with the same period of last year, the price of coking coal increased by 13.74% from January to September, the metallurgical coke rose by 9.72%, the domestic iron fines rose by 36.84%, and the imported mines rose by 34.83%. Luo Bingsheng admits that the high growth of crude steel production has led to an increase in high-priced imported ore, and the oversupply has prompted domestic steel prices to fall. Therefore, the high growth of total production is the most fundamental reason for the high cost and low efficiency of the whole industry. “In 2012, the steel industry will still face a situation of overcapacity and weakening market demand.†Luo Bingsheng told reporters that since the beginning of this year, China’s economic growth rate has declined quarter by quarter, and the trend of decline in 2012 will continue, and steel demand will be affected by this. decline. At the same time, from January to October this year, the investment in fixed assets of the ferrous metal mining industry was 10.29 billion yuan, an increase of 17.4% over the same period of the previous year; the investment in fixed assets of the smelting and rolling processing industry was 313.6 billion yuan, compared with the previous year. During the same period, it increased by 18.9%. This shows that the production capacity of the steel industry will further increase next year, and the contradiction of overcapacity will become more prominent. Luo Bingsheng believes that the total control of the steel industry is crucial, otherwise there will be greater difficulties. Luo Bingsheng also pointed out that the current iron ore supply and demand relationship is developing towards oversupply, and the accumulation of various factors is pushing the iron ore into the downward channel. In terms of production, high profit has stimulated the mine development boom, and mines including the three major mines have greatly increased production scale and output, which will objectively lead to a substantial increase in iron ore supply. From the demand side, the demand for iron ore in Europe, the United States and Japan is basically stable and cannot be greatly improved. However, China's domestic iron ore has increased sharply in recent years, which may partially offset the demand for imported iron ore. In addition, China's imported iron ore presents a diversified development trend, which is conducive to weakening the high monopoly of the three major mines and promoting the oversupply situation.