In October this year, the aggregate gross profit of 65 major steel enterprises in China’s Hebei Province totaled RMB 1.358 billion ($218 million), compared to an aggregate net loss of RMB 721 million ($116 million) in September of the current year, as announced by Hebei Metallurgical Industry Association on November 29.
Meanwhile, in the January-October period of this year the aggregate gross profit of the 65 steel enterprises in question totaled RMB 2.434 billion ($390 million), down 86.38 percent compared to a total gross profit of RMB 17.871 billion in the same period last year. In particular, in the first 10 months this year, eight of the 65 major steel enterprises in Hebei posted year-on-year increases in their gross profit.