25
Aug
01:00
Baosteel profit holds against falling revenues
The listed arm of China’s Baosteel saw net profits grow 0.65% year-on-year to CNY 3.17 billion ($494.4 million) in the first half of 2015. This was in spite of a -17.24% fall in revenues to CNY 80.77 billion, according to its filing to the Shanghai Stock Exchange. The company saw its crude steel and average steel price fall y-o-y but its profits still outperformed other Chinese steelmakers, Kallanish notes.
The company’s sales volumes were 10.7 m…
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Anonymous
Very good overview of the weekly steel market.
Anonymous