China's Steel Titans Brace For Tough Times

Via AG Metal Miner   This past weekend, China’s primary steel manufacturing companies released a cautionary statement regarding their profits. In the statement, the manufacturers acknowledged a series of obstacles they expect to encounter in the latter half of the year. They also attribute disappointing demand, dwindling profitability, and cost reduction pressures as the primary factors exacerbating these challenges. The China Iron and Steel Association (CISA) statement asserts that the industry recently reached a critical turning point…