26
Aug
01:00
Nangang profits slump 70% as steel price fall hits home
Eastern China’s Nanjing Iron and Steel (Nangang) saw profits slide -69.98% year-on-year to just CNY 34.93 million ($5.46m) in the first six months of 2015. The result came despite a slight y-o-y increase in government support and as steel prices plummeted, Kallanish notes.
Nangang’s operating income also fell 10.87% y-o-y to CNY 11.87 billion. This was enough to wipe out a small increase in government support to CNY 48.13m, compared to CNY 47.97m…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
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