China’s ferrous metal smelting and rolling sector recorded gross profit of RMB 24.34 billion in January–September 2026, down 73.3% from a year earlier, the National Bureau of Statistics said on October 27.
The sector posted a gross loss of RMB 5.09 billion in September. The bureau said the industry was in loss as demand during the traditional peak season fell short of expectations.
Automakers reported gross profit of RMB 267.54 billion for the first nine months, a year-on-year drop of 22.8%. Gross profit in ferrous metal mining and dressing reached RMB 35.18 billion, down 3.6%, while metal manufacturing profit fell 9.6% to RMB 99.45 billion. Manufacturers of railway, shipping, aerospace and other transport equipment recorded a 10% increase to RMB 111.73 billion.
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