China Iron and Steel Association en China steel industry says profits plunge <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The combined profits of China's major steelmakers crashed by more than 98 percent in 2012 as growth in the economy of the world's largest steel producer slowed, an industry group said.</p> <p>After-tax profits of more than 80 steelmakers reached around 1.58 billion yuan ($251 million) last year, the China Iron and Steel Association said in a statement on its website on Thursday.</p> <p>It attributed the fall to China's economic downtrend, which cut demand and caused prices to drop.</p> <p><a href="" target="_blank">read more</a></p> Business China Iron and Steel Association Economy of the People's Republic of China steel Technology World Steel Association AFP Fri, 01 Feb 2013 05:15:03 +0000 Agence France-Presse 5742552 at