According to the data released by the China Iron and Steel Association (CISA), in October China's steel industry witnessed a good performance: overall domestic crude steel output increased by 9.7 percent, finished steel output was up by 13.4 percent and ferroalloy output rose by 23 percent - all on year-on-year basis. However, China's steel exports in October totaled 3.82 million mt, down by 390,000 mt, while its steel imports totaled 1.2 million mt, down by 130,000 mt, both month on month.
In addition, in the first nine months of the current year, China's steel industry (including the mining segment) achieved a total net profit of RMB 235.2 billion ($37.04 billion), increasing by 32.3 percent as compared to the same period last year. Of this overall figure, the net profits of the ferrous metal mining & dressing industry and the ferrous metal smelting and rolling industry respectively reached RMB 72.5 billion ($11.42 billion) and RMB 116.6 billion ($18.36 billion), up by 55.2 percent and 21.3 percent year on year