Reportedly, China’s steel industry has suffered from the raising prices of imported iron ore.

The statistics showed that steel industry’s profits ratio was 2.91% in 2010 which was much lower than the 6.2% averaged level of national industrial enterprises.

It’s known that China’s import prices of iron ore increased by 61% to US$145/ton in the end of 2010 from US$90/ton in last January.

As the result, the production cost went up by over 30% in last year; consequently, China’s steel industry has suffered from the pressure of high production costs.

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