13
Apr
04:23
Shagang, Angang estimate positive first quarter
China’s Shagang, Anshan Iron & Steel (Angang) and Xinxing Ductile Iron Pipe have all announced profit growth forecasts through their listed arms on the Shenzhen Stock Exchange (see table below). All three say higher average steel prices year-on-year in the first quarter drove increased steel profits, Kallanish notes.
China mainly pushed through the massive closure of mislabelled steel capacity after Q1 last year. As a result, although prices …
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Anonymous
Very good overview of the weekly steel market.
Anonymous