20
Jul
07:09
Nangang expects record profits over Jan-June
On 18 July, Nanjing Iron & Steel published its H1 earnings forecast on the Shanghai Stock Exchange, reporting an expected CNY 1.15 billion ($170.2 million) in attributable net profits, an increase of 690% year-on-year. Nangang says the soaring margin was thanks to the mislabeled steelmaker clearance campaign and a strong product portfolio, Kallanish notes.
The firm's profit forecast in H1 2017 smashed its record in 2007, when Nangang reported CNY 1.031 b…
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Anonymous
Very good overview of the weekly steel market.
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