Since the fourth quarter of last year, China's steel industry has turned from a small profit to a loss, and its complex and difficult situation is considered to be the most severe since the new century. Industry insiders believe that the cold winter of the market is conducive to eliminating backwardness and accelerating restructuring, but this year's market will be low before and high after.
The most severe situation since the new century "meager profits, tumultuous market, confused mentality"-this is a true portrayal of my country's steel industry in 2011. Data show that the profit margin from January to October 2011 has dropped to 2.76 per cent, hovering below 3 per cent for the 3 consecutive year.
