Chinese mills are between a rock and a hard place

摘要

There are so far no signs of a turnaround for Chinese steel industry body Cisa claimed recently after revealing that the segment suffered further losses in the first quarter of the year. The RMB 4.1 bn deficit recorded by the sector is the tenth consecutive net loss and signs are that little improvement is likely this year. Just over half of that loss was produced by major mills, which have been squeezed by price declines and cost increases.