Tough times ahead for China steel companies
By Zhang Qi | China Daily | Updated: 2010-06-08 07:52
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A customer at a steel products market in Nanjing, Jiangsu province. Average steel prices in China reached their highest level in April since last August. An Xin / for China Daily |
BEIJIJNG - Chinese steel mills are facing a precarious situation in the third quarter due to falling product prices and rising raw material costs, forcing many of them to scale back output or opt for maintenance shutdowns, leading industry experts said on Monday.
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