11
Dec
00:00
Shagang sees 3.77 billion profit to October 2014
Eastern China’s Shagang has recorded net profits of Yuan 3.77 billion ($0.61bn) over January-October this year, up 102% from the same period of 2013. The earnings are the result of both Shagang’s investments and diversification, and of the collapse in iron ore prices that have returned many Chinese mills to profitability despite the weak market, Kallanish notes.
Shagang also saw revenues grow 7.64% year-on-year to Yuan 204.7 billion despite falli…
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Anonymous
Very good overview of the weekly steel market.
Anonymous