28
Jun
08:43
Chinese ferrous sector earnings slump in May
Despite a month-on-month recovery in operating income in May, the profit decline of China’s ferrous metal smelting and rolling industry widened again as raw materials costs eroded profit margins, according to data from the National Bureau of Statistics.
Monthly operating income was up 6.53% m-o-m but was down 6.98% year-on-year to CNY 859.81 billion ($128.6 billion). Profits in the month came to CNY 14.23 billion, slumping by 40.03% m-o-m and 81.09…
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Anonymous
Very good overview of the weekly steel market.
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