Cumulative revenue for the industry during the first six months of 2012 was RMB 6.14tr, or 26.21% of 2011's annual revenue. The industry was reported to have made no profit in the first six months of 2012 due to overcapacity.
China has become a net exporter of steel products since 2006, reducing its imports of steel products over the years. Only 7mn tons of steel products were imported in the first six months of this year, amid overcapacity and slowdown in demand.
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Keep on reading: China’s steel production on the rise or perhaps over producing
Keep on reading: China’s steel production on the rise or perhaps over producing
