China: Ferrous metal industry’s total profit declines by 91.3% y-o-y in CY’22

China’s ferrous metal smelting and rolling processing industry achieved a total profit of RMB 36.55 ($5.4) billion during CY’22, down 91.3% y-o-y, according to data from National Bureau of Statistics (NBS). Operating income during the period fell by 9.8% y-o-y to RMB 8,714.7 ($1291) billion and operating costs were at RMB 8322.14 ($1233) billion, down 6.0% y-o-y.