(Yicai Global) Oct. 29 -- Profit at China's steelmakers dived an average 32 percent in the first three quarters of this year from a year earlier due to skyrocketing production costs.

Total income was CNY146.6 billion (USD20.8 billion) in the nine months through September, Shanghai Securities News reported, citing data from the China Iron and Steel Association. The profit margin on sales among CISA members narrowed 3 percentage points to 4.6 percent.

Production rose in the period, while exports dipped 5 percent to 50.3 million tons and Imports fell 12.2 percent to 8.8 million tons, the data showed.

Steel production jumped 10.6 percent to 909 million tons between January and September, according to figures released earlier by the National Bureau of Statistics.