China: Jan-Nov'23 sees a 275.6% y-o-y profit hike in ferrous metal industry

China's ferrous metal smelting and rolling processing industry achieved a total profit of RMB 40.04 billion ($5.63 billion) during Jan-Nov'23, a hike of 275.6% y-o-y, according to data from the National Bureau of Statistics (NBS). Revenue fell by 2.3% y-o-y to RMB 7630.35 billion ($1073.51 billion) and operating cost stood at RMB 7291.03 billion ($1026.92 billion), down by 2.7% y-o-y, in the period under review.