The 71 largest steel companies in China booked aggregate profit of 3.6 billion yuan in June as demand and prices rebounded, the Ministry of Industry and Information Technology said on July 29.
The 71 mills reported total profit of 1.3 billion yuan in May, ending a seven-month string of losses, according to the China Iron & Steel Industry Association.
Steel demand began to revive at the beginning of the year as the central government's 4-trillion-yuan stimulus package buoyed fixed-asset investment and consumption.
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