Steel industry profitable after earlier losses

Experts say prices likely to fall again as idle capacity comes online soon

Large and medium-sized iron and steel companies in China turned a profit in the first four months of this year, according to the China Iron and Steel Association.

Wang Liqun, vice-president of the CISA, said 93 large and medium-sized iron and steel enterprises registered profits of 64 million yuan ($9.66 million) in the first four months.