23
Jan
00:00
Chonggang claims return to profit in 2014
China’s Chongqing Iron and Steel (Chonggang) has said it expects to have earned around Yuan 50 million ($8.16m) in profit in 2014, up from a loss of Yuan 2.5 billion in 2013. The mill has been struggling to reduce costs and to focus on higher value added products. The slim margin and the way that this has been achieved, mean that the company is not out of the water yet, Kallanish notes.
Falling steel prices compounded the increase in debt from its relo…
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Anonymous
Very good overview of the weekly steel market.
Anonymous