China: Ferrous metal industry’s total profit declines by 94% y-o-y in Jan-Nov’22

China’s ferrous metal smelting and rolling processing industry achieved a total profit of RMB 22.92 ($3.29) billion during Jan-Nov’22, down 94.5% y-o-y, according to the data from National Bureau of Statistics (NBS). Operating income during the period fell by 9.8% y-o-y to RMB 7,983.66 ($1,146) billion and operating costs were at RMB 7,644.4 ($1,098) billion, down 5.5% y-o-y.