According to the latest official statistics released by the
China Iron and Steel Association (CISA), in July
China's 71 large and medium steel mills posted a combined profit of RMB 10.6 billion ($1.55 billion). Of the mills in question, four were still in the red, incurring a combined loss of RMB 215 million ($31.4 million). Some insiders estimate that, if small steel mills in
China are also taken into consideration, the overall Chinese steel industry probably achieved a net profit of RMB 20 billion ($2.93 billion) in the month of July.