According to National Bureau of Statistics data, from January to September 2022, the ferrous metal smelting and rolling processing industry achieved an operating income of 6,617.77 billion yuan, a 9.1% decrease year on year; operating costs were 6,338.64 billion yuan, a 4.6% decrease year on year; and the total profit was 31.30 billion yuan, a 91.4% decrease year on year.

Profits of some finished products have increased significantly as raw and fuel costs have decreased and domestic steel prices have fluctuated and stabilized. According to National Bureau of Statistics data, the ferrous metal smelting and rolling processing industry lost 9.75 billion yuan in a single month in September, compared to 8 billion in August. Monthly losses were cut by 6.1 billion yuan. Since the beginning of the year, the domestic steel industry has earned 42.24 billion yuan in the first quarter, 40.37 billion yuan in the second quarter, and 51.31 billion yuan in the third quarter, including a loss of 25.71 billion yuan in July, 15.85 billion yuan in August, and 15.85 billion yuan in September. The loss was 9.75 billion yuan, indicating a loss reduction for three months in a row. However, based on national crude steel output and profit per ton of steel, it is undeniable that domestic steel companies have transitioned from "low profit" to "micro profit," and even losses and the high total cost has become a problem. The "difficulties" that limit the development of steel companies, and at the same time, the "scale" of existing steel companies can no longer meet their "profit" needs, will cause a new wave of "mergers and reorganizations" in the domestic steel industry.

According to the subdivided output of various varieties, although construction steel varieties have become the main production reduction varieties since the beginning of this year, and the output of plate varieties has maintained a relatively stable production rhythm, construction steel varieties outperformed plate varieties in terms of product output in a single month in September. Month after month, there has been a trend of rapid recovery, and the variety of plates has increased to varying degrees. One of the reasons for this is that the profits of the various varieties differ. According to the Lange Steel Research Center, the profit level of building materials varieties in a single month in September was significantly higher than that of sheet metal varieties; the second is that, as a result of the steady growth policy, corporate profits have improved, and industrial production has shown a trend of accelerating recovery.