China's steel industry achieves record profits in 2006

SteelOrbis Shanghai The latest data released by the China Iron and Steel Association show that last year China's steel industry achieved the highest profit levels in its history. The Chinese steel industry's total profits in 2006 reached RMB 169.95 billion ($21.4 billion), up RMB 39.76 billion ($5.1 billion) or 31 percent compared with the previous year.