It is reported that Wuhan Steel that they have cut their 2012 sales value to 230 billion tonnes, and the profit to CNY 3 billion.

Actually, this company gained more than CNY 3.5 billion in 2011.

Amid the bleak steel market, Wuhan Steel will face higher pressure in 2012 due to lack of iron ore and expensive logistics cost.

(Source: www.steelhome.cn/en)
China steel information centre and industry database