22
Feb
13:03
Ann Joo profits surge in fourth quarter
Malaysia’s Ann Joo Resources returned to profit in 2016 on the back of its more flexible cost base and recovering prices. In the December quarter, profits surged alongside Malaysian steel prices, Kallanish notes.
Ann Joo says it expects to continue its strong performance in 2017. Capacity closures in China, especially at induction furnaces, is helping rebalance the Chinese market away from exports, leaving Ann Joo with less competition. The increase in dom…
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Anonymous
Very good overview of the weekly steel market.
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