According to the data released by NDRC recently, Chinese steel industry had made a profit of 206.7 billion yuan from January to August, up 32.6% year over year. Among them, 62.19 billion yuan was contributed by ferrous material mining industry, up 54.5% year over year. And 104.17 billion yuan was made by ferrous smelting and rolling sector, up 22.8% compared to the same period of previous year.
Besides, China's domestic steel price index had averaged 134.06 in September, dropping by 1.11 points month over month while up 14.49 points year over year. In detail, during the period in question, the price for high speed wire rod with diameter of 6.5 mm and medium plate with thickness of 20 mm was 4986 yuan/t and 4873 yuan/t, down 2.1% and 1.5% respectively month over month while up 13% and 8.2% in respective year over year. On the ther hand, during the given period the price for CRC was 5554 yuan per t, rising by 0.5% month over month and by 3.2% year over year.