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<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 

China

Angang Steel Company Limited produces steel products which include cold rolled sheets, steel rail, pipe billets, wire rods, thick plates, and other steel products.

Angang Steel Co Ltd (H) (347 HK)

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

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...

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