30
Mar
03:57
Angang sees 2019 profit fall with credit loss
Anshan Iron and Steel (Angang) has announced that its 2019 profit has been hit by a lower gross margin for its steel products, and exacerbated by credit problems in the fourth quarter, Kallanish notes.
According to its annual report, operating revenue saw a slight increase of 0.41% from last year to CNY 105.59 billion ($14.88 billion). Net attributable profit decreased by -77.5% year-on-year to CNY 1.79 billion. Meanwhile the company decided to distribute cas…
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Very good overview of the weekly steel market.
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