China's Commodities Firms Wait On Output Cuts To Rescue Profits

By Jason Roger, Bloomberg Markets Live reporter and strategist

The profitability of Chinese commodities producers is still heavily lagging other sectors as markets wait on output cuts to relieve the downward pressure on prices.

Persistent oversupply means that last year’s worst performers in terms of earnings — crude oil refiners, steel mills and coal miners — continued to prop up the table in the first quarter, according to data from the statistics bureau on Sunday.