In October this year, the aggregate sales revenue of 80 large and medium-sized steel enterprises in China totaled RMB 297.449 billion ($47.7 billion), up 2.55 percent year on year, as stated by an insider from the China Iron and Steel Association (CISA).
In October, the total pre-tax profits of the 80 large and medium-sized steel enterprises which are members of the CISA totaled RMB 7.86 billion ($1.26 billion), up 87.22 percent compared to September. Meanwhile, in October the net profit margin of the steel enterprises increased from -0.85 percent in September to 0.1 percent, indicating the first net profit since June this year. Of the 80 steelmakers, the number of enterprises posting a net loss decreased from 42 in September to 21 in October.
In the January-October period of this year, the aggregate sales revenue of the 80 large and medium-sized Chinese steel enterprises totaled RMB 2.94 trillion ($472 billion), down 6.52 percent year on year, while the total pre-tax profits of the enterprises in question in January-October amounted to RMB 56.243 billion ($9 billion), decreasing by RMB 6.232 billion ($1 billion) on year-on-year basis. Their aggregate net loss in the given period was RMB 5.223 billion ($838 million), with an overall net profit margin of -0.18 percent. In the first 10 months of the current year, 31 of the 80 enterprises registered a net loss.