M. Nurhadi Pratomo, Justinus Andri and Jessica Gabriela
Bisnis.comJAKARTA — China’s coal mining sector cannot escape the effects of the economic downturn in the Land of the Pandas.
The steel industry is indeed the sector most affected by the weakening Chinese economy, according to a report from China’s National Bureau of Statistics. It was noted that the profitability of metal iron producers in Pandaland fell by 91 percent from January to July 2023.
It’s not just the steel industry that’s under pressure. bloomberg reported a 37 percent decline in profits for non-ferrous metals producers and a 26 percent decline for coal producers.
Editor: M. Nurhadi Pratomo