29
May
01:00
Chinas steelmakers see profits slump despite lower iron ore
China’s steel industry recorded net profits of CNY 25.66 billion ($4.14 billion) over January-April, down -35.5% year-on-year, according to the National Development and Reform Commission (NDRC). Weak domestic steel demand and a high levels of debts counteracted any benefit from falling iron ore prices, Kallanish notes.
Oversupply in China’s steel market has meant lower iron ore prices have translated into lower steel prices, not higher margins, f…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous