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Chinese steel enterprises gross profit totals RMB 29.43 billion in Jan-Aug 2026-金属展-钢铁展-冶金展--Metal Event-Steel Even
t-2027 China (Guangzhou) International Metal & Metallurgy Industry Exhibition
9/29/2026 金属展-冶金展-钢铁展-steel expo-metal & metallurgy expo |
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In the January-August period this year, the ferrous metal smelting and rolling sector in China recorded a grossprofit of RMB 29.43 bilion ($4.4 billion), down 62.4 percent year on year, as announced by China''s National Bureau of Statistics (NBS) on September 28.
The automotive sector recorded a gross profit of RMB 253.38 billion ($37.5 billion) in the first eight months down 16.0 percent year on year.
At the same time, the ferrous metals mining and dressing sector, the metal manufacturing sector and theraiway, shipping, aerospace and other transportation equipment manufacturing sector recorded gross profits ofRMB 31.37 billion ($4.2 billion), RMB 88.79 billion ($11.2 billion) and RMB 98.48 billion ($12.8 bilion) in theJanuary-August period this year, down 2.8 percent, down 6.3 percent and up 10.9 percent year on year,respectively.
In August alone, the ferrous metal smelting and rolling sector only posted a gross profit of RMB 340 milion ($50.4 million), signaling that the entire industry was hovering near the break-even line in August - a sharpdeterioration compared with the first half of the year, when monthly profits routinely reached several bilion yuan.The relatively high iron ore, coking coal and coke prices negatively affected steelmakers'' profitability in August
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