英语文摘：Weak bank shares drive Chinese stocks down Tuesday
日期:2010-08-04
Steel shares also helped drag the market down after Luo Bingsheng, vice chairman of the China Iron and Steel Association (CISA), told a news briefing Tuesday China's steel industry will face "pressures" in the second half as production costs increase and steel prices decline.
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Luo forecast steel prices to drop amid the sector's oversupply.
Inventory of five major steel products in 22 large- and medium-sized Chinese cities hit 10.8 million tonnes at the end of June, up 34.16 percent from the beginning of the year, according to the CISA.
Xinjiang Ba Yi Iron and Steel Co. lost 3.58 percent to 11.58 yuan and Gansu Jiu Steel Group Hong Xing Iron and Steel Co. dipped 3.43 percent to 9.58 yuan. Enditem
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