Apr 16, 2012 06:04 PM

Steelmakers Suffer Big Losses in First Two Months

By staff reporters Wang Yong and Zhang Boling

(Beijing) – The steel sector is in for first-quarter losses this year due to overcapacity, surging iron ore prices and weak demand.

The China Iron and Steel Association (CISA), a national industry organization, said profitability for the steel industry in the first two months fell 68.4 percent compared to the same period in 2011.

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