13
Aug
01:00
Bengang boosts profits but overpays for iron ore in H1 14
Bengang Steel Plates, the Shenzhen-listed arm of north east China’s Benxi Iron and Steel Group, reports a net profit of Yuan 174 million ($28 million) over the first half of 2014, up 6.5% year-on-year. However, it has still to benefit from the recent decline in iron prices because of the way it sources ore from its parent company, Kallanish notes.
Bengang’s net profit declined in the second quarter even as iron ore prices dropped below $100/tonne…
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Anonymous
Very good overview of the weekly steel market.
Anonymous