China’s ferrous metal smelting sector sees 1.06-fold hike in profit in Jan-Apr

Thursday, 27 May 2021 13:54:55 (GMT+3)   |   Shanghai

In the January-April period of the current year, of the 41 industrial sectors in China, 39 witnessed year-on-year increases in gross profit, while one saw a lower decrease in gross profit and one saw a shift from loss to profit, as announced by China's National Bureau of Statistics (NBS).

In the given period, the recorded gross profits of RMB 152.98 billion ($23.9 billion), rising by 1.06-fold year on year, while up 49.6 percent compared to the same period in 2019.

The automotive sector recorded gross profits of RMB 179.96 billion ($28.1 billion) in the given period, up 157.5 percent year on year.

At the same time, the ferrous metals mining and dressing sector, the metal manufacturing sector and the railway, shipping, aerospace and other transportation equipment manufacturing sector recorded gross profits of RMB 21.7 billion ($3.4 billion), RMB 55.4 billion ($8.6 billion) and RMB 14.37 billion ($2.24 billion), up 194.4 percent, up 78.9 percent and 21.1 percent year on year, respectively.

In the January-April period, the gross profits of the mining industry and the raw materials industry indicated rapid growth amid improving demand from downstream users and rapid rises in commodity prices. 

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