It's reported that Chinese steel industry will see a recovery from the fourth quarter of 2012 through the next year after posting huge losses of RMB 5.5 billion in the first three quarters of this year. According to Mr. Liu Zhenjiang, the vice president of the China Iron and Steel Association, most large and medium-sized steel companies have turned loss into gain from October except that their main steel business are still suffering losses, added that 2012 has been the most difficult year for China's steel industry since the beginning of the 21st century. He said that worst of the industry has passed but strict control of production capacity will be crucial due to excessive capacity. Mr. Liu urged the country's steel enterprises to accelerate restructuring and upgrading to reinforce their market competence and abilities of continuous development.
