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PrintAccording to statistics released by the China’s ministry of industry and information technology, China's steel industry realized profits of CNY 143.3 billion in the first 11 months of last year.
The minister said that China’s major steel mills earned a combined profit of CNY 44.8 billion in the period, 67% less than in the same period of the previous year.
In 2009, the country eliminated 21.2 million tons of outdated iron smelting capacity and 16.9 million tons of steel smelting capacity.
In the period from January to November last year, the country's steel output rose 12.1% YoY to 520 million tonnes, the total output last year is expected to reach 565 million tonnes.
Sourced from Chinaknowledge.com
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