From April to July this year, the prices of major metals such as steel, copper, and aluminum continued to decline under the pressure of the macro-control of the real estate market, and then fluctuated upwards driven by loose liquidity and costs, showing a first decline and then an increase" N" fluctuating trend. From mid-April to late July, steel prices fell for 12 consecutive weeks under the direct influence of the state's regulation of the real estate market prices, and non-ferrous metal prices also fluctuated downwards; July and August were supported by reduced production and supply and cost-driven, steel, non-ferrous metals Prices fluctuated and rebounded; September and October, driven by the Fed's quantitative easing policy, commodity prices rose significantly across the board.

　　 Affected by the fall in prices from May to July, the profit of the steel and non-ferrous metal industries declined for three consecutive months. The monthly profit of the steel industry fell from 17 billion yuan in April to 15.6 billion yuan in May and 10.6 billion yuan in June. The monthly profit of the non-ferrous metals industry fell from 8.1 billion yuan in April to 7.3 billion yuan in May, 5.9 billion yuan in June and 5.8 billion yuan in July.

　　 As the prices of steel and non-ferrous metals rebounded after August, the monthly profits of the steel industry in August and September were 7 billion yuan and 11.2 billion yuan, and the monthly profits of the non-ferrous metal industry were 6.3 billion yuan and 8.2 billion yuan, respectively. The month-on-month ratio rebounded significantly. Metal prices continued to rise significantly in October. It can be expected that the monthly profits of the steel and non-ferrous metal industries in July will be the bottom of this year, and the momentum of a ring-on-month rebound in profits is basically established.

　　As the prices of steel and non-ferrous metals have risen, the supply has not increased. The increase in energy conservation and emission reduction has restricted the production of some enterprises, and the production growth of steel and non-ferrous metals has continued to fluctuate and decline. The growth rate of steel production dropped sharply from 31.5% in the first half of the first half to 4.1% in October. The growth rate of ten non-ferrous metal production dropped from 34.1% in the first half of the first half to 2.8% in October. The output of electrolytic aluminum dropped from an increase. The increase of 57.4% at the peak of the six months turned into a decline of 5.4% in October. This reduction in supply has played a major role in supporting the price recovery.

　　 From January to August, the profit of the steel industry and the non-ferrous metal smelting and rolling processing industry increased by 1 and 1.2 times respectively year-on-year. Due to the excessive increase in profits in the first half of the year due to base factors, the profit growth rate will continue to decline in the next few months, but The annual profit growth rate is still at a relatively high level. The annual profit of the steel industry is expected to increase by more than 50%, and the annual profit of the non-ferrous metal smelting and rolling processing industry is expected to increase by 70%.

　　 Fourth, the profit of the chemical and building materials industries rebounded from the previous month.

　　 Following the volatility in chemical product prices in August and September, the price of chemical products in October showed a general upward trend, and the rate of increase expanded. Among them, the price of chemical fertilizers rebounded sharply from the low level. The average price of urea in the month hit a 19-month high, month-on-month. The average price of monoamine phosphate rose by 27.5% month-on-month; the average price of diamine phosphate increased by 6.7% month-on-month; the average price of potassium chloride rose by 11.8% month-on-month; the average price of 45% amino compound fertilizer increased by 10% month-on-month.