China's Steel Industry is Experiencing Big Losses

  • Thursday, January 7, 2016
  • Source:ferro-alloys.com

  • Keywords:Steel
[Fellow]China's steel industry is experiencing big losses, due to overcapacity and weakening demand. Chinese steelmakers is suffering from losses in the first eleven months of 2015.
China's steel industry is experiencing big losses, due to overcapacity and weakening demand. Chinese steelmakers is suffering from losses in the first eleven months of 2015. 
 
Those for large and medium-sized steel mills face losses of RMB53.1 billion (about US$8.18 billion) in the first eleven months of 2015. The total sales revenue for 101 steel mills dropped to RBM2.66 trillion, down by 19.3% from the same period a year earlier.
 
In addition, Chinese steel prices have gone down dramatically for the past two years.
 
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