Dec. 4, 2012 (China Knowledge) - Eighty large and medium-sized steel enterprises in China realized RMB 297.45 billion in total sales revenue last month, 2.55% more than in the same period of last year, sources reported.
In October, the country saw its steel industry earn a combined net profit of RMB 307 million, and this is the first time China's steel industry swings to profit since May 2012.
The industry's profit margin on sales was only 0.1% in the month and twenty-one or almost one fourth of these steel firms suffered loss in October.
In the first ten months of this year, China's steel industry suffered a net loss of RMB 5.22 billion, compared with a net profit of RMB 84.9 billion it realized in the corresponding period of 2011. Thirty-one of these steel firms suffered loss in the ten-month period.