Subsidiary of China’s second-largest steelmaker suffers nearly $1bn loss as industry struggles deepen

Subsidiary of China’s second-largest steelmaker suffers nearly $1bn loss as industry struggles deepen

Chinese steelmakers are facing the painful unwinding of a two-decade boom fuelled by rapid construction and industrial expansion. The sector was largely unprofitable throughout last year

Steelmakers in China are facing various challenges, leading to continued losses. Image used for repesentative purpose/Reuters