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China's steel industry profit up 29.9% in Jan-Nov

Jan. 25, 2012 (China Knowledge) - Steel industry in China earned a combined profit of RMB 295.2 billion in 2011, 29.9% more than in the same period of 2010, according to statistics released by the National Development and Reform Commission.

The growth rate was 33.2 percentage points lower than that in 2010.

The profit of the ferrous metal mining and dressing industry surged 59.1% year on year to RMB 93.5 billion, and that of the ferrous metal smelting and pressing sector rose 15.4% year on year to RMB 141.7 billion.

The commission said that China's crude steel output increased 8.9% year on year to 683.27 million metric tons last year, and the growth rate was 0.4 percentage points lower than that in 2010.

The country saw its output of coke increase 11.8% year on year to 427.79 million metric tons last year, and the growth rate was 2.7 percentage points lower than that in 2010. The country's coke exports fell 1.4% year on year to 3.3 million metric tons during the period.






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