29
Mar
02:35
Steelmakers benefit from mislabelled steel capacity cuts
Major steelmakers in China are benefiting from the national campaign against mislabelled steel capacity, according to Shanghai Securities. Nanjing Iron & Steel (Nangang) and Shagang Group have both estimated that their first quarter 2017 profits could increase by over 20 times year-on-year, Kallanish notes.
Shagang has announced that in Q1 it has achieved around CNY 85-110 million ($12.3-16m) in net profits attributable to shareholders, an increase of 2…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous