The China Iron and Steel Association (CISA) has announced that in May this year China’s steelmakers’ profits increased by 81.8 percent month on month to RMB 14.8 billion ($2.1 billion), while their aggregate sales revenues rose by 6.5 percent month on month to RMB 374 billion ($53 billion) in the given month.
In the January-May period this year, profits of China's main steelmakers totaled RMB 41.9 billion ($5.9 billion), up 50.9 percent year on year, their sales revenues amounted to RMB 1.6422 trillion ($232.4 billion).
China’s finished steel exports amounted to 25 million mt in the first five months this year, down 14 percent year on year amid the Covid-19 pandemic worldwide, while the country’s finished steel imports in the given period totaled 5.46 million mt, up 12 percent year on year.