In the first nine months of the current year, Chinese steelmakers which are members of the China Iron and Steel Association (CISA) posted an aggregate gross profit of RMB 319.3 billion ($50.0 billion), up 1.23-fold year on year, as announced by the CISA.
In the first nine months of the year, CISA-member steelmakers registered an overall sales revenue of RMB 5.2998 trillion ($0.83 trillion), up 42.52 percent year on year.
In the first nine months, China’s crude steel output amounted to 805.89 million mt, up two percent year on year, 2.5 percentage points slower compared to the rise recorded in the same period last year.
Qu Xiuli, vice president of the CISA, stated that steelmakers’ profitability improved in the given period amid their upgrading of their product structure and production efficiency.