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2017 Iron ore outlook: Price rise not sustainable as oversupply looms ahead
Jan 12, 2017  09:55:51
Abstraction: The statistics of China Iron and Steel Association indicate that from January to November in 2016, the total profit of 99 major steelmakers registered 33.146 billion yuan while the number in the last year was -52.906 billion yuan. Only a few enterprises suffered from losses, but the profit the entire industry enjoyed was much larger. This indicates that after years of hard time, steel industry as a whole now embraces a promising prospect, said Mi Pengqi, a market analyst.
Commodity market has ridden out darkest time The statistics of China Iron and Steel Association indicate that from January to November in 2016, the total profit of 99 major steelmakers registered 33.146 billion yuan while the number in the last year was -52.906 billion yuan. In November alone, the above...

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