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Thematic (Sector/Industry)

China Construction materials / Thematic (Sector/Industry)

<ul><li>The profits of China’s iron and steel enterprises fell by nearly half year-on-year in the first quarter, and the average profit margin was a mere 0.58%, according to China Iron and Steel Association (CISA).</li><li>The steel industry’s biggest problem is low margin, CISA deputy secretary general Chen Yuqian said at a press conference Tuesday.</li><li>Steelmakers’ revenue fell faster than the drop in production costs, as iron ore prices remained high, while sales declined and steel prices saw a consistent drop.</li></ul>

The profits of China’s iron and steel enterprises fell by nearly half year-on-year in the first quarter, and the average profit margin was a mere 0.58%, according to China Iron and Steel Association (CISA).The steel industry’s biggest problem is low margin, CISA deputy secretary general Chen Yuqian said at a press conference Tuesday.Steelmakers’ revenue fell faster than the drop in production costs, as iron ore prices remained high, while sales declined and steel prices saw a consistent drop.

China’s Steel Industry Faces Sharp Drop in Profits Amid Rising Costs and Weak Demand 