27
Apr
06:14
China's Bayi steel returns to profit
Northwestern China’s Xinjiang Bayi Iron & Steel (Bayi), a subsidiary of Baowu Iron & Steel Group, has seen its first quarter net profits jump to CNY 272.69 million ($39.58m). It also reported having reversed two years of losses in 2016 by achieving CNY 37.1m in net profit, on the back of the steel price rally, cost cutting and government refunds.
Bayi estimates its first half 2017 to be profitable based on current operating cond…
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Anonymous
Very good overview of the weekly steel market.
Anonymous