06
Mar
05:26
Shagang expects net profit plunge in first quarter
Jiangsu Shagang's listed company announced on 5 March that its net profit for the first quarter of 2019 is expected to be CNY 80-120 million ($12-18m). This would be -52.9% to -68.9% lower than the same period of the previous year, Kallanish notes.
The decline in steel prices has led to a sharp drop in gross margins, and rising raw materials prices have also boosted production costs, the official report suggests.
Shagang has also carried out mai…
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Anonymous
Very good overview of the weekly steel market.
Anonymous