31
Mar
10:39
Baosteel plans cost savings in 'difficult' 2016
Baoshan Iron and Steel Group (Baosteel) says it plans to achieve CNY 4 billion ($618.4 million) in cost savings in 2016. Reducing financial costs will also be important to support margins, as the company predicts a difficult year, Kallanish notes.
The steelmaker expects its operating profit will reduce -53% year-on-year to around CNY 10 billion in 2016. They also assume revenues will fall -2.3% y-o-y to CNY 160 billion. Baosteel says operating costs should be ar…
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Anonymous
Very good overview of the weekly steel market.
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