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Steelmakers hard hit by China slowdown, falling prices

Profit will probably decline 18 per cent to 370 billion yen in the year to March, Nippon Steel & Sumitomo Metal Corp said on Wednesday, warning of the impact of China's deceleration.


THERE'S trouble in steel town.

Asia's largest steelmaker forecast the first drop in full year earnings in three years just hours after US Steel Corp reported a quarterly loss, adding to signs that mills worldwide are facing challenges from lower prices and record Chinese...