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Chinese steelmakers’ profits slump in first four months
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According to data released by the National Development and Research Commission, China’s crude steel output totaled 296.26 million tons in the first five months of this year, increasing by 2.2%year on year.
In May alone, the country’s crude steel production increased by 2.5% year on year.
However, the Chinese steelmakers’ profits declined sharply. In the first four months of this year, the country’s steel producers’ profits slumped by 49.5% year on year to RMB39.5 billion.
News Date
6/28/2012 1:17:26 PM
reported by
Tracy Niu
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