Aluminium Update's

China's steel industry will face better situations in the fourth quarter and in 2013 after posting whopping losses in the first three quarters, an official of China Iron and Steel Association (CISA) said.
Liu Zhenjiang, vice president of the CISA, said last week at a steel industry forum that most large and medium-sized steel companies have shaken off losses since October, but their main steel business is still suffering losses.
Data from the CISA showed Chinese steel companies posted total losses of 5.5 billion yuan (874.32 million U.S. dollars) from January to September, compared with total profits of 38.7 billion yuan registered during the same period last year.