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Chinese steelmakers see net loss of RMB 38.638 billion in Jan-Oct

In the January-October period of the current year, China’s large and medium-size steelmakers registered an aggregate net loss of RMB 38.638 billion ($6.03 billion), according to the latest data issued by the China Iron and Steel Association (CISA).
As also indicated by the CISA, since China has entered the traditional slack season for business amid cold winter weather conditions, domestic finished steel prices indicated rapid decreases in November. It is thought that China’s finished steel prices will likely continue their downward movement in December due to sluggish demand.

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