CISA: China's steel industry profits jump 190% YoY in Jan-Sept

Member mills of the China Iron and Steel Association (CISA) reported that their total profits for the first three quarters of this year reached Yuan 96 billion ($13.5 billion), representing a substantial 190% improvement compared with January-September last year, according to the association's release on its website.

The industry's better profitability was supported by a smaller decline in revenue compared to costs, CISA explained. For the first nine months, member steel mills reported a total operating revenue of Yuan 4.56 trillion, lower by 2.36% on year, while their operating costs dropped by 3.88% on year to