China's steel and oil refining sectors are facing significant challenges amid a sluggish economy, with cumulative losses reported at 34 billion yuan ($5 billion) for steelmakers and 32 billion yuan for oil processors over the first nine months of the year. These figures highlight the ongoing struggles of the country's traditional commodities producers.

The industrial sector as a whole is experiencing a decline in profits, with the rate of decrease accelerating compared to previous months. This trend underscores the broader economic difficulties impacting China's manufacturing and resource extraction industries, raising concerns among investors and analysts about the sustainability of growth in these key sectors.