12
Aug
04:47
Cost increases squeeze Chonggang profit
Chongqing Iron & Steel (Chonggang)’s listed company has announced that the company's profit in the first half of 2019 was CNY 617 million ($87.64m), down -19.09% year-on-year.
The main reasons for the decline in profit are lower sales prices and higher prices for raw materials such as iron ore, coal and scrap, which have squeezed margin per tonne, Kallanish notes.
According to Chonggang, the decrease in sales prices resulted in a …
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Anonymous
Very good overview of the weekly steel market.
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