According to the China Iron and Steel Association (CISA), the gross profits of large and medium-sized steel enterprises in China totaled RMB11.3 billion in January-September period. The gross profits to sales rate was at 0.41%, the lowest rating among the Chinese industrial sectors. Meanwhile, the China Steel Price Index was at 99.35 points at the end of October, falling by 6.05 points year on year. Besides, CISA predicted that China’s steel production would decrease in the coming months and the price of iron ore is the key element to decide steelmakers’ profits.