The 77 steel companies under the China Iron and Steel Association (CISA) have earned a combined profit of 33.9 billion yuan in the first four months of this year, thanks to the stockpiling of low-price iron ore which was imported last year. However, with iron ore prices rising significantly this year, and declining steel prices, the profits of the steel companies may be severely affected, some of them may even suffer losses, according to Luo Bingsheng, deputy director of the CISA.

Source
The Beijng News

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