Listed steel enterprises in the first quarter earnings hit a new high in recent years

According to the Shanghai Daily reported 2, 36 steel industry listed companies quarterly. Results of which 33 year-on-year growth, Chongqing 3 losses *ST. Steel plate listed companies in the first qu-arter net profit of more than 11 billion yuan, the same period last year was a loss of nearly 4 billion yuan. In the first quarter of this year, the total profit was the best in the first quarter since 2009, whi-le the net profit for the first quarter of 2008 was 12 billion 260 million yuan.

According to Everbright Securities statistics, the steel plate in the first quarter net profit year-on-year turnaround, growth of 85%, compared with the highest point in recent years, the second quarter of 2016 net profit growth of 20%. In the first quarter of this year, the annualized return on equity was 8.7%, 0.3 percentage points higher than the second quarter of 2016, down 14.1 percentage points fromthe second quarter of 2008.

Data show that from the end of last year, the market into the steel replenishment phase. The nation-al steel inventories continued to rise in the level of the first quarter of this year, reaching the level of 16 million 589 thousand tons at the end of February, the highest value since April 2014. And this re-plenishment forces to promote steel prices in the first quarter after the release of the latter also led to pressure on steel prices in April.

Data show that in April the profitability of domestic steel space has shrunk significantly, some of the manufacturers of flat materials have been at the edge of the loss. At present, steel profits shrink to 330 yuan / ton, 40 yuan / ton profit coil. Entered in May, along with other enterprises to take the lead at Shagang steel prices, the market also hope. However, a number of industry analysts told reporte-rs that this year's black department high or has appeared in the first quarter, the second   half of themarket is difficult to catch up.