National Bureau of Statistics: Total profits of the steel industry in 2024 reached 29.19 billion yuan.

In 2024, total profits for industrial enterprises in China above a certain size nationwide were 7.43105 trillion yuan, down 3.3% YOY. State-owned enterprises reported 2.13973 trillion yuan in profits, down 4.6%; joint-stock enterprises, 5.61664 trillion yuan, down 3.6%; foreign-invested and Hong Kong, Macao, Taiwan-invested enterprises, 1.76379 trillion yuan, down 1.7%; and private enterprises, 2.32458 trillion yuan, up 0.5%.

By sector, mining profits were 1.12719 trillion yuan, down 10%; manufacturing, 5.51411 trillion yuan, down 3.9%; and utilities (electricity, heat, gas, water), 789.76 billion yuan, up 14.5%.

Profits in key industries in 2024: electricity and heat production up 17.8%, non-ferrous metals up 15.2%, oil and gas extraction up 14.2%, textiles up 3.4%, electronics manufacturing up 3.4%, specialized equipment manufacturing up 1.1%, general equipment manufacturing up 0.7%, food processing down 0.2%, electrical equipment manufacturing down 2%, auto manufacturing down 8%, chemicals down 8.6%, coal mining down 22.2%, non-metal minerals down 45.1%, ferrous metals down 54.6%, and petroleum refining shifted to losses.

Specifically, ferrous metal smelting and processing profits were 29.19 billion yuan in 2024.