China: Ferrous metal industry posts y-o-y decline in revenue in Jan-Jul’24

China’s ferrous metal smelting and rolling industry achieved a revenue of RMB 4,626 billion ($649 bn) in Jan-Jul’24, reflecting a decline of 3.3% y-o-y. The operating cost during this period stood at RMB 4,470 billion ($628 bn), representing a y-o-y decrease of 3%. Despite the decrease in costs, the industry incurred a loss of RMB 2.76 billion ($0.38 bn).