Mon, December 29, 2008
Business > Industries

China's steel industry sees 12.77b yuan loss in Nov

2008-12-29 06:42:53 GMT2008-12-29 14:42:53 (Beijing Time)  China Daily

China's 71 major mills may post a loss of up to 12.77 billion yuan ($1.86 billion) in November, China Securities Journal reported on Dec 29 citing anonymous sources.

The newspaper said 48 mills were in the red in November, accounting for over two thirds of the country's large and medium-sized steel makers.

Analysts attributed the loss to the high prices in iron ore and dropping steel prices.

China's steel industry has been one of the worst hit by the international financial crisis as demand has declined sharply.

Add Your Comments:

Your Name:
Your Country:
Comment:
(English Only)
 
Please read our Terms of Service. Messages that harass, abuse or threaten others; have obscene or otherwise objectionable content; have spam, commercial or advertising content or links may be removed.

SPECIAL COVERAGE

MOST VIEWED

LATEST VIDEO

PICTURE GALLERY