According to the data released by CISA (China Iron and Steel Association), China's registered steelmakers contributed a daily crude steel output of 1.585 million t in middle October, down 4.8% as compared to early October. Meanwhile, China's average daily crude steel output was estimated to stand at 1.7998 million t in middle October, down 6.9% vs early October.
On the other hand, China's 77 registered steelmakers had made a profit of 7.899 billion yuan in September, down 6.59% as compared to previous month. And the year-to-date profits came to 82.34 billion yuan, up 27.74% year over year. Besides, the profit rate for the sales revenue of Chinese overall registered steelmakers just remained at 2.53% in September and the year-to-date profit rate was 2.99%, indicating the profitability for Chinese steelmakers was still very low.