According to the latest official statistics released by the China Iron and Steel Association (CISA), in October China's 70 large and medium steel mills posted a combined net profit of RMB 6.7 billion ($981.3 million), up nine percent compared with a profit of RMB 6.148 billion in September. Of the mills in question, 14 recorded losses during the month in question.
From January to October inclusive, China's large and medium steel mills achieved a total net profit of RMB 36.7 billion ($5.38 billion). According to the data released by China's National Bureau of Statistics on November 30, the total net profit registered by the steel mills in question in the first ten months this year was down 53.7 percent year on year.