According to the data released by NDRC on July 19, China's steel industry made an over profit of 120.6 billion yuan in January-May of this year, swelling by 14.4% year over year, however, the increase rate had fallen by 514.4%. In detail, for the given period, the profits for ferrous metal mining and dressing sector rose by 55.9% year over year to 32.46 billion yuan, reflecting a decline of 141.6% for the increase rate as compared to last year. Meanwhile, the profits for ferrous metal smelting and processing sector amounted to 64.02 billion yuan, down 1.1% year over year.
On the other hand, the NDRC also pointed out that domestic steel price index averaged 135.2 in June, slipping by 0.84 month over month while raising by 18.33 year over year.