China’s Nanjin Iron & Steel Expects Profit to Fall More Than 50%

Reuters reported Fosun International expects its 2011 profit from Nanjing Iron & Steel subsidiary to fall more than 50 percent.

As quoted in the market news:

Fosun said Nanjing Iron & Steel suffered a fourth-quarter loss due to reduced steel demand and a fall in steel prices greater than the decrease in raw material costs.

Click here to read the full Reuters report.

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