China: Ferrous metal industry’s total profit falls nearly 93% y-o-y in Jan-Oct’22

China’s ferrous metal smelting and rolling processing industry achieved a total profit of RMB 29.68 billion during Jan-Oct’22, down 92.7% y-o-y, according to the data from National Bureau of Statistics (NBS). Operating income during the period fell by 9.7% y-o-y to RMB 7304.55 billion and operating costs were at RMB 6995.86 billion, down 5.2% y-o-y.