13
Jul
04:43
Profitable Sangang halts trading for steel assets purchase
Southeast China’s Fujian Sangang Minguang has halted share trading pending an announcement on the purchase of steel businesses. Sangang is the biggest steel producer within the province with 6.2 million tonnes/year of crude steel capacity, Kallanish notes.
In 2016 Sangang achieved CNY 14.12 billion ($2.08 billion) in sales revenue and CNY 927 million in attributable net profits. According to its first half of 2017 earnings forecast, Sangang estim…
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Anonymous
Very good overview of the weekly steel market.
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