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Steel industry's profits to stay sluggish in 2014

Combined profits of Chinese steelmakers is expected to remain sluggish at about 30 billion yuan ($4.8 billion) this year, Zhang Changfu, secretary-general of China Iron and Steel Association, said on Sunday. The steel market is already in an oversupply situation and the overcapacity issue is becoming even more serious. Iron ore is also fast becoming a buyer's market, Zhang said during an annual meeting in Shanghai. Output of steel products is expected to hit 810 million metric tons this year, up 1.67 percent year-on-year. China's steel industry is the biggest consumer market in the world, accounting for about half of the global steel demand, Zhang said.

Inland port for meat imports in Zhengzhou