The 68 major Chinese steelmakers posted ¥2,247.9 billion ($1 = ¥6.83) in revenue and ¥55.39 billion in profit in 2009, down 10.1% and 31.43% respectively from a year earlier, the China Iron & Steel Association said Tuesday. Of the 68, eight reported losses, down from 13 in 2008; the top five crude steel mills churned out 165 million tons, or 29.06% of the total, up 2.73 percentage points from 2008. The Ministry of Industry and Information Technology has issued a circular on forming three to five super-sized steelmakers to consolidate the nation's highly fragmented steel making industry.