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China H1 large and medium steel mills loss 21.68 bln yuan, CISA

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Publish time: 28th July, 2015      Source: www.cnchemicals.com
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China’s large and medium-sized steel mills posted a total loss of 21.68 billion yuan ($3.54 billion) in core businesses in the first half of the year, compared with a loss of 4.9 billion yuan a year ago, said the China Iron and Steel Association (CISA) on July 27.During the first half of the year, total crude steel output of China dropped 1.3% on year to 409.97 million tonnes, compared with a 3% growth from the same period last year, the first decline over the past 20 year, the CISA said.Meanwhile, China’s apparent crude steel consumption dropped 4.71% during the same period, compared with a 3.2% decline in 2014 and a 7.1% growth in 2013, signaling that steel consumption may have entered the peak period, said the CISA.China’s steel sector is suffering from falling demand from traditional steel guzzlers, persisting low prices and increased trade friction caused by high exports of steel products, said the CISA.