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China's steel industry is experiencing big losses, due to overcapacity and weakening demand. Chinese steelmakers is suffering from losses in the first eleven months of 2015.
Those for large and medium-sized steel mills face losses of RMB53.1 billion (about US$8.18 billion) in the first eleven months of 2015. The total sales revenue for 101 steel mills dropped to RBM2.66 trillion, down by 19.3% from the same period a year earlier.
In addition, Chinese steel prices have gone down dramatically for the past two years.
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