SteelOrbis Shanghai
As the new data issued by CISA (China Iron and Steel Association) showed, an overall loss has recurred in November in Chinese steel industry. Among the total 71 large and medium sized steelmakers which have been invested, 48 have suffered losses, 6 more than that in October, with an overall losses of RMB 12.77 billion ($ 1.87 billion).
Analyst commented that the loss mentioned above is mainly due to the high cost raw material used by the domestic large steel mills.
Meanwhile, the industrial financial result of December is not expected to be optimistic for the total inventory devaluation for the whole year would be reflected in this month.