In the January-July period of this year, China’s iron and steel industry achieved a gross profit of RMB 79.3 billion ($12.5 billion), down 48.3 percent year on year, according to China’s National Development and Reform Commission (NDRC).
In the given period, gross profit of non-ferrous metal mining industry totaled RMB 49.2 billion ($7.8 billion), down three percent year on year. Meanwhile, gross profit of iron and steel processing industry was RMB 24.2 billion ($3.8 billion), decreasing by 73.2 percent on year-on-year basis.
In July alone, iron and steel processing industry indicated a loss of RMB 700 million ($11.6 million).
Meanwhile, in January-June period of the current year, China’s iron and steel industry achieved gross profit of RMB 66.4 billion ($10.5 billion), down 49.4 percent year on year. In the given period, gross profit of non-ferrous metal mining industry totaled RMB 35.8 billion ($56.5 billion), down 14.5 percent year on year. Meanwhile, gross profit of iron and steel processing industry was RMB 24.9 billion ($3.9 billion), decreasing by 68.1 percent on year-on-year basis.