China: Total profits of ferrous metal industry fall nearly 70%, y-o-y, in Jan-Jun’22

According to data from the National Bureau of Statistics (NBS), China’s ferrous metal smelting and rolling industry achieved operating income of RMB 4,575.97 billion in Jan-Jun’22, a year-on-year decrease of 3.6%. Operating costs stood at RMB 4,332.65 billion, up 0.7% y-o-y. Total profit was recorded at RMB 82.61 billion, a y-o-y decrease of 68.7%.