According to the data released by the China Iron and Steel Association, in October China steel industry witnessed a good performance overall domestic crude steel output increased by 9.7% YoY, finished steel output was up by 13.4% YoY and ferroalloy output rose by 23%YoY.

China's steel exports in October totaled 3.82 million tonnes down by 390,000 tonnes while its steel imports totaled 1.2 million tonnes down by 130,000 tonnes both MoM. In addition, in the first nine months of the current year, China's steel industry achieved a total net profit of CNY 235.2 billion increasing by 32.3%YoY.

Of this overall figure, the net profits of the ferrous metal mining & dressing industry and the ferrous metal smelting and rolling industry respectively reached CNY 72.5 billion and CNY 116.6 billion up by 55.2%YoY and 21.3%YoY.

(Sourced from SteelOrbis)
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