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Published: Tuesday February 7, 2012 MYT 11:25:00 AM
China steel profits to weaken in 2012 on low demand industry ministry
BEIJING, Feb 7 (Reuters) Low demand and higher costs are expected to further erode profits in the Chinese steel sector in 2012, China's industry ministry spokesman Zhu Hongren said at a news conference in Beijing on Tuesday.
Daily crude steel output slipped 1.3 percent in midJanuary, the latest data available from the China Iron and Steel Association, and analysts have said that production cuts are likely in the coming months if margins do not improve.
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