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CHINA TO INVEST IN REGIONAL SPECIAL IRON, STEEL FIRMS: CISA.
BEIJING, April 1 Asia Pulse - China is inclined to develop regional special iron and steel enterprises especially large iron and steel corporation, said Chi Jingdong, vice secretary-general of China Iron and Steel Association (CISA),
Statistics showed that China's iron and steel industry completed 1,249.21 billion yuan (US$178.163 billion) investment in fixed assets in the 1996-2006 period, up 14.84 per cent annually, while the production capacity of pig iron, crude steel and steel products grew over 20 per cent in the 2001-2005 period.
Chi said that the members of CISA completed 803.7 billion yuan investment and made 1,104.1 billion yuan gross profits in the 2001-2007 period. Generally speaking, the iron and steel industry is profitable.
But Chi said ...
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...adjustment of steel prices, a number of other Chinese steel enterprises have followed suit, lowering their prices for steel products...some being raised, should be indicative, the tens of steel enterprises have lowered prices of most of their products. Baosteel...