19
Aug
04:05
Fangda Special increases profit in second quarter
China’s Fangda Special Steel saw net profit rise quarter-on-quarter in the second trimester of 2019 but fall overall year-on-year in the first six months.
Its second-quarter net profit increased by 24.5% q-o-q to CNY 585 million ($83.08m). Profit in the first half 2019 meanwhile shrank due to the high cost of iron ore, Kallanish notes.
Over H1, Fangda reports operating revenue of CNY 8.25 billion, an increase of just 0.18% year-on-year. Net at…
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Very good overview of the weekly steel market.
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