Shaogang Songshan is expected to make a loss of 210 million yuan in the first half of this year due to lackluster demand, surplus in overall capacity, plummeting exports and the financial crisis. This compared to a profit of up to 443 million yuan in the same period of last year. Tisco also posted a loss of 650 to 700 million tons citing the same reasons. According to official data, 72 key mills in the mainland recorded a combined profit of 1.26 billion yuan in May despite over 20 were still losing money.