CISA: Profits of China's steel industry plunge 86% in Q1

The profits that China's steel industry earned from its main business – steel – contracted significantly by 86% in the first quarter of 2026, mainly due to a worse-than-expected drop in steel demand as well as high raw material costs, the China Iron and Steel Association (CISA) pointed out on the five-party working conference held in Beijing on April 27.

Attending the meeting were representatives from the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Commerce and CISA. During the first three months of this year, Chinese steelmakers implemented self-disciplined production controls that resulted in a steady