China: Ferrous metal industry posts y-o-y decline in revenue in Jan-Aug'24

China's ferrous metal smelting and rolling industry achieved a revenue of RMB 5,233 billion ($746 bn) in Jan-Aug?24, reflecting a decline of 4.7% y-o-y. The operating cost during this period stood at RMB 5,065 billion ($722 bn), representing a y-o-y decrease of 4%. Despite the decrease in costs, the industry incurred a loss of RMB 16.97 billion ($2 bn).