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China's Largest Steelmakers' June Profit Falls 38%, Daily Says
SHANGHAI, July 27 -- China's 77 largest steelmakers' profit fell 38 percent in June on a month earlier because of lower prices, the Economic Information Daily reported today, citing an unidentified China Iron & Steel Association official.
The combined profit of the mills last month was 6.25 billion yuan ($922 million), the report said.
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