03
Nov
09:15
Nangang chairman resigns after Q3 losses
Yang Siming announced his resignation as chairman of Nanjing Iron and Steel (Nangang) on Monday, the first working day after the company announced losses in the third quarter. The company saw its operating margin vanish in Q3, although it is hardly the only Chinese steelmaker in the red, Kallanish notes.
Nangang saw a net loss attributable to shareholders of CNY 509.15 million ($80.36m) in Q3, down from a net profit of CNY 85.8m a year earlier. This he…
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Anonymous
Very good overview of the weekly steel market.
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