30
Dec
06:56
China’s ferrous sector registers huge losses in November
China was implementing strict lockdown measures in November in order to slow the rapid spread of Covid-19, thereby greatly impacting steel consumption and mills' earnings in the month, Kallanish observes. Entering December, policy shifted and most restrictions were removed, giving the industry a breather.
Total operating income of the ferrous sector in the year through November came to CNY 7.98 trillion ($1.15 trillion), down 9.8% year-on-year. This implied an…
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Anonymous
Very good overview of the weekly steel market.
Anonymous