Na­tion’s top steel mills warn on out­look

China Daily (USA) - - BUSINESS -

The good times in the world’s top steel pro­ducer may not last long. China’s big­gest mills, in­clud­ing Hes­teel Co Ltd, are warn­ing that the im­proved con­di­tions and ris­ing prices in the first half that helped them to lift earn­ings may soon be about to give way. “In­dus­try prospects are not op­ti­mistic,” Hes­teel, the listed unit of China’s big­gest mill by out­put, said late on Tues­day as it re­ported its best six months since 2011. While the mar­ket had gained some mo­men­tum in the half, helped by a fac­tors in­clud­ing low in­ven­to­ries, the sec­tor is still on a down­ward trend and de­mand didn’t re­bound sig­nif­i­cantly, it said.

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