China's steel industry reform contributes to steel industry sales revenue and profit growth
China's stock index performance on steel field had a outstanding performance up by 18%. It was contributed to China's supply reform. From the production capacity, china reduced 65 million tons crude steel output in 2016 and there was another 50 million tons for 2017.
According to China Iron and Steel Association data showed that there was 120 million tons disqualified steel being cut from the market through the reform measurements.
From 34 companies listed on stock market, the average sales revenue grew by 46.64% compared with the same period of last year. And the net profit also grew.
From all other data, it showed that China's steel industry reform did have a very positive impact for China's steel industry.
