Large- and medium-sized steel mills in China incurred losses of 18 billion yuan in the first eight months of the year, according to Xu Lejiang, president of the China Iron and Steel Association (CISA) and chairman of Baosteel Group at the 10th CSM Annual Meeting. In January-August, domestic demand for steel shrunk with the apparent consumption down 5.2 percent year on year, said Xu.
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