09
Jan
00:00
Wugang output slumps on accounting change
Central China’s Wuhan Iron and Steel (Wugang) has announced that it expects 2014 production to be down significantly on 2013 because of a change in the calculation method. Chinese media reports that some subsidiaries are no longer included in a move that mirrors a similar change for Angang and Hegang in 2013, Kallanish notes.
Wugang has said 2014 crude steel output could total 27.57 million tonnes, 30.5% lower than the 39.3m t in 2013. Local …
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Very good overview of the weekly steel market.
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