10
Jul
01:00
Chinese steelmakers profits collapse, output must follow
The 101 steelmaker members of the China Iron and Steel Association (CISA) recorded a net loss of CNY 16.48 billion ($2.65 billion) over January-May. This was however up from a loss of about CNY 6.12 billion in the same period of 2014, the association says. Steelmakers have kept their output high in the first half of the year despite a clear decline in domestic finished steel demand, now losses are expected to force them to reduce production, Kallanish notes.
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Anonymous
Very good overview of the weekly steel market.
Anonymous