China Iron and Steel Association: The economic benefits of the steel industry improved year-on-year in the first quarter.

According to the China Iron and Steel Industry Association, in the first quarter, China's steel industry actively adapted to changes in demand, made efforts to overcome external environmental challenges, and overall maintained stable steel production. Key statistics showed an increase in profits for major enterprises and an overall improvement in asset conditions. According to preliminary statistics from the China Iron and Steel Association, in the first quarter, the total operating income of key member steel enterprises was 1.436 trillion yuan, a decrease of 6.61% year on year; operating costs were 1.3505 trillion yuan, a decrease of 7.73% year on year; and total profits were 21.583 billion yuan, an increase of 1.08 times year on year. "Overall, the financial situation of enterprises continues to improve." Jiang Wei, Vice President and Secretary-General of the China Iron and Steel Association, stated at the press conference held that day that the steel industry's production and operation were basically stable in the first quarter, thanks to good production control in January and February, with benefits improving year-on-year, laying a solid foundation for a positive development throughout the year.