Profits of Steel Mills Fell Slightly Amid Weakening Ferrous Metal Market

SHANGHAI, Mar 28 (SMM) - On the raw material side, falling iron ore prices, stable coke prices and stable steel scrap prices dragged down the costs of steel mills. In terms of finished steels, the profits of steel mills weakened amid falling steel prices. Looking at the follow-up stage, the recent market sentiment is bearish. Coupled with the overseas economic recession, SMM believes that the short-term steel prices will decline and the profits of steel mills will fluctuate narrowly.