Xinhua reported that China's crude steel output rose 6% in October from the same period a year earlier.
National Development and Reform Commission said that during the first ten months of 2012, China produced 602.23 million tonnes of crude steel, up 2.1% year on year.
The statement added that the country's steel exports climbed 11.8% from one year earlier to 45.78 million tonnes during the January to October period, while imports fell 12.2% YoY to 11.55 million tonnes.
The country's steel industry booked profits of CNY 91 billion (14.44 billion US dollars) in the first three quarters, tumbling 54.3% year on year.
A key reason behind the sharp profit drop is China's slowing economic growth, which fell for the seventh consecutive quarter to 7.4% in July to September period.
Analysts said that the steel industry has also been struggling with overcapacity in recent years, a problem that has further squeezed the industry's profit margins.
