24
May
09:00
Bayi and Shaoguan return to profit
Baosteel subsidiaries Bayi Iron & Steel and Shaoguan Iron & Steel both returned to profit in April, according to their parent company. The main reason for the profits were increasing prices last month, but the companies have also taken measures to cut costs, Kallanish notes.
Bayi had recorded losses for 20 straight months until April. Higher output levels were likely key to the recovery, lowering cost per tonne and boosting revenues. Bayi&rsquo…
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Anonymous
Very good overview of the weekly steel market.
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