According to the data released by Luo Bingsheng recently, an official from CISA, as the soft market demand and constant hiking costs for steelmaking ingredients went on in the past ten months, the production and sales cost for China's medium and large steelmakers had been contracted significantly.
Concretely, in October of current year, Chinese 77 medium and large steelmakers just made a total profit of 1.375 billion yuan, dropping by 82.6% month over month. Meanwhile, during the given period, the sales profit ratio just stood at 0.47%, making a new record low in this year.