According to the data released by the China Iron and Steel Association, in October this year, the aggregate sales revenues of large and medium sized steel enterprises in China amounted to RMB 309.144 billion (USD 50.74 billion), increasing by 0.96%month on month, while their aggregate gross profit totaled RMB 1.716 billion (USD 0.28 billion), down by 47.46% month on month

Accordingly, 18 of the 86 large and medium-sized domestic steel enterprises registered losses in the given month, four more than in the month of September this year, with their gross losses amounting to RMB 1.123 billion (USD 0.18 billion), up 19.60% month on month.

Meanwhile, in the January-October period of the current year, the total gross profits of large and medium-sized steel enterprises in China amounted to RMB 12.97 billion (USD 2.13 billion), compared to a total gross loss of RMB 5.223 billion in the same period last year, while the aggregate sales revenues of the enterprises in January to October this year totaled RMB 3.038275 trillion (USD 0.49 trillion), up 3.25% year on year. The gross profit to sales ratio of the enterprises in question in the January to October period this year was just 0.43%. 27 steel enterprises recorded gross losses in the first 10 months this year, six less than in the same period last year, while their aggregate gross losses amounted to RMB 12.169 billion (USD 1.99 billion), down 58.68% year on year.