28
Jun
05:55
China’s steel sector profits turn negative again
China’s ferrous smelting and rolling industry saw its profits decline rapidly in May despite stable revenue, and again dragged down year-to-date profits to below zero, according to National Bureau of Statistics (NBS) data.
May operating income across the whole industry lost just 0.3% compared with April to CNY 688.1 billion ($95.2 billion), but this slumped by nearly 20% on-year, Kallanish notes. This is believed to be supported by slowly rising demand as NB…
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Anonymous
Very good overview of the weekly steel market.
Anonymous