China’s steel companies slump in first half: Profit margin 0.13%

BEIJING - Suffering from chronic overcapacity, China’s steel mills have reported expanded losses and shrinking profit margins for the first half of the year, adding to the difficulty for the new Government in turning the industry around - 35 of 86 member companies of the China Iron & Steel Association are operating at a deficit, with the sales margin of the companies at only 0.13%.