OREANDA-NEWS. July 02, 2012. Baosteel Group forecasts the current meagre profit margin of the domestic steel industry may extend well through 2012.

The weak global economic conditions will be disturbing household export-oriented industries related to steel, shipbuilding, home appliance and machinery. At home, competition is becoming intense due to slowing demand growth.

This year the group will increase its revenues to 310 billion yuan.