Iron and steel sector gains strength

China's iron and steel industry made a strong comeback in the first three quarters of 2018 as the market stabilized and companies' profits increased, said the industrial association on Wednesday.

Liu Zhenjiang, secretary-general of the China Iron and Steel Association, said the first three quarters of 2018 had seen a stable market that "has not been witnessed for years".

He said steadily growing GDP has provided stable demand for the steel sector. As GDP grew by 6.7 percent year-on-year in the first nine months, reaching 65.1 trillion yuan ($9.34 trillion), the output of iron and steel products has picked up momentum accordingly.