As disclosed by an insider from the China Iron and Steel Association (CISA), China's 72 large and medium-sized steel mills registered an overall combined profit of RMB 1.262 billion ($185 million) in May this year; however, 25 large and medium-sized mills still incurred losses during the month.
During the January-May period, the overall loss generated by the steel mills in question amounted to RMB 3.886 billion ($569 million).