20
Jan
09:38
Financial issues, not performance, drive Baosteel profit slump
Eastern China’s Baosteel has said that its preliminary 2015 net profits to be down around 83.4% in 2015 to CNY 961 million ($146.1m). Currency fluctuation and growing debt are the key to the loss however, and the steelmaker continues to far outperform many competitors, Kallanish notes.
Baosteel’s operating margins have certainly been squeezed by falling steel prices. Its position as a supplier of premium products and its close relationship …
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Anonymous
Very good overview of the weekly steel market.
Anonymous