Chinese Steel Companies Face Increasing Losses

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A worker checks coils of wire rod at a steel-making factory on... News PhotoBusiness,Factory,Finance,Fuel and Power Generation,Horizontal,Huaibei,Occupation,SteelmakingPhotographer Collection: ChinaFotoPress 2012 ChinaFotoPressHUAIBEI, CHINA - SEPTEMBER 05: (CHINA OUT) A worker checks coils of wire rod at a steel-making factory on September 5, 2012 in Huaibei, China. China's top 80 steel companies had a total loss of 1.98 billion yuan (about 312 million USD) in July, and profits for China's steel mills dropped 98.9 percent in the first seven months from a year earlier, according to the China Steel and Iron Association. (Photo by ChinaFotoPress/ChinaFotoPress via Getty Images)