China's large and medium-sized steel mills tracked by the China Iron and Steel Association (CISA) suffered a loss of 72 billion yuan in main business in the first ten months of 2015, with the average sales margin at minus 1.5 percent, the Economic Information Daily reported on Friday.
In January-October, the CISA steel mills incurred a loss of 38.638 billion yuan in total. In October, those steel mills saw their profits stand at minus 12.516 billion yuan, down 25 percent month on month, and incurred a loss of 14.88 billion yuan in main business, down 27.8 percent month on month. In October, sales margin of those steel mills was minus 5.37 percent, a fresh record to date, said the report.
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