The Chinese steelmaker Hebei Steel estimated a net profit of RMB36.74~RMB146.9 million for January-September, slumping by 60%~90% year on year. Hebei Steel said that the slump in net profits was caused by the imbalance between demand and supply and the decreased prices of finished steel products.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66696&division=A6
