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Steelmakers hard hit by China slowdown, falling prices

Published Thu, Jul 30, 2015 · 09:50 PM
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Tokyo

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 exports.

Profit will probably decline 18 per cent to 370 billion yen (S$4.1 billion) in the year to Mar…

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