China's major steelmakers post record 9-month profit in 4 years

Profits of key steel enterprises in the first three quarters of 2025 hit their highest level for the same period in the past four years, according to Jiang Wei, vice-chairman and secretary-general of the China Iron and Steel Association.

The surge was driven by the steel industry's efforts in production control, supply optimization, industrial upgrading and efficiency gains, Jiang said at the third Sustainable Mineral Supply Chain Ecosystem Developers' Conference in Shanghai on Thursday.

Despite the gains, he cautioned that the steel industry still faces growing pressure to maintain supply-demand balance, and the foundation for sustained profit recovery remains unstable.

Gao Xiaoyu, vice-president of China Mineral Resources Group, called on upstream and downstream enterprises to establish new long-term collaboration models to build mutually beneficial supply chains.

Gao also advocated for the creation of a trusted data space within the mineral resources sector, promoting platform-based transactions, digitalized trade, and intelligent supply chains to foster highly efficient supply systems.

It's imperative to establish green incentive mechanisms, jointly develop and promote green and low-carbon technologies, work together to create a system of green trade rules and standards, and build green supply chains, Gao added.