In the January-October period of the current year, fixed asset investments in the overall Chinese domestic ferrous metallurgy industry (including both ferrous metal mining and production) amounted to RMB 541 billion ($86.8 billion), up 7.8 percent on year-on-year basis, as announced by the China Iron and Steel Association (CISA). However, this growth rate was down 10.7 percentage points compared with the year-on-year growth rate recorded in the same period last year.
In January-October this year, fixed asset investment in production and rolling of ferrous metals in China was RMB 414.3 billion ($66.5 billion), increasing by 3.9 percent on year-on-year basis, with this increase rate down 15 percentage points compared with January-October 2011. In addition, fixed asset investment in domestic ferrous metal mining in the first 10 months this year reached RMB 126.7 billion ($20.3 billion), up 23.1 percent year on year basis and with a rise of 5.7 percentage points in the growth rate compared with January-October last year.