02
Mar
07:41
Shagang forecasts soaring 2020 profit
China's Jiangsu Shagang Co, controlled by the country's largest private steel company, Shagang Group, predicts operating income of CNY 14.43 billion ($2.23 billion) in 2020, up 7.07% year-on-year. Profit is forecast to increase 36.57% to CNY 1.62 billion, Kallanish notes.
The company attributes the increase amid the Covid-19 pandemic to effective prevention measures and record production. However, annual output has not yet been reported.
The faster g…
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Anonymous
Very good overview of the weekly steel market.
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