29
Oct
09:41
Baosteel takes losses in Q3 as financial costs soar
Despite being historically one of the most profitable Chinese steelmakers, even Baosteel was unable to turn a profit in the third quarter of 2015. In addition to slumping steel prices, the firm was hit with a sharp increase in financial costs, Kallanish notes.
The steelmaker took a net loss attributable to shareholders of CNY 920.46 million ($145m) in Q3, down from a profit of CNY 1.86 billion a year earlier. As a result, net profit over the first nine…
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Anonymous
Very good overview of the weekly steel market.
Anonymous