31
Aug
15:14
Baosteel profits surge on steelmaking margins
China’s Baosteel has reported a surge in profits in the first half of the year as the recovery in steel prices has boosted its steelmaking margins, especially for high-end flat products. Soaring financial costs were a reminder that it still faces problems but it is also reducing its currency risk, Kallanish notes.
Baosteel’s revenues were down -3.44% year-on-year to CNY 77.99 billion ($12 billion) in the first six months, but net profit att…
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Anonymous
Very good overview of the weekly steel market.
Anonymous