China: Ferrous metal industry posts 3% y-o-y decline in revenue in Jan-Jun’24

China’s ferrous metal smelting and rolling industry achieved a revenue of RMB 3,972.77 billion ($547 bn) in Jan-Jun’24, reflecting decline of 3% y-o-y. The operating cost during this period stood at RMB 3,841.22 ($529 bn), representing a y-o-y decrease of 2.8%. Despite the decrease in costs, the industry incurred a loss of RMB 310 million ($43 mn).