A worker operates a crane to transport a block of steel into an oven during a government organised tour at a Tiangong International plant, makers of high quality steel and tools, in Zhenjiang in China’s eastern Jiangsu province on Oct. 12, 2020. (Hector Retamal / AFP via Getty Images) Chinese steelmakers have reported significant losses from weak demand and low prices. Data released on June 28 showed that only 15 percent of Chinese steel mills remain profitable, a 27 percent drop from the first quarter and a 59 percent plunge compared to the same period last year.
According to China’s […]
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