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China Daily | Updated: 2016-05-12 07:53
Govts & policies
Major steel mills turned profitable in March
China's major steel mills turned profitable in March, the first monthly profit since last June. That's the word from the China Iron and Steel Association. The association said that the companies made a combined profit of 2.56 billion yuan ($393 million) in March but still lost 8.75 billion yuan in the first quarter. Still, experts say the price gains aren't sustainable because rising prices may motivate the mills to produce more, worsening the supply glut.
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