[Ferro-Alloys.com] China’s steelmakers have suffered severe losses. Along with banks string loaning services, in the first 5 months of 2014, the major steel mills’ profit were detracted from the downturn compare to last year.
There are 30% of steel mills have announced losses, total amount up to RMB8.93 billion according to statistics.
Further, the average export price of steel related product in past 5 months dropped to US$794/ ton, this has been US$79/ton reduced over the same period of last year.
Major buyers are coming from ASEAN, South Korea and Middle East countries and they have shared 54.7% of total export volume already.
On the contrary, Taiwan, Japan and South Korea shared 87% of import steel to China market.