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China Iron and Steel Association (CISA) forecasted a huge loss in Chinese steel sector in the Q1 due to the higher raw material costs and weak demand. According to an official of CISA, this is the first time that the whole Chinese steel sector suffers from the losses since the 21st century.It's known that China's total steel output acquired 50% of the world's steel production; however, the country's steelmakers suffered a loss of RMB2.8 billion in the first two months of this year.CISA estimated that steel market might rise slightly in the Q2 and Q3 but the Chinese steelmakers might still face the losses and be under the heavy pressure of sluggish demand