26
Oct
08:06
Baosteel net profit surges to-date in 2016
Baosteel has reported net profits of CNY 5.83 billion ($859.6 million) over the last three quarters, an increase of 151% year-on-year. It estimates whole year net profit attributable to shareholders for 2016 could increase 600-800% to CNY 7.09-9.12 billion.
Higher steel prices this year contributed significantly to soaring growth in net profits, as did significant cost reductions, Kallanish notes. Among these are a fall in commissioning cost from the Zhanjiang s…
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Anonymous
Very good overview of the weekly steel market.
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