28
Apr
03:34
Fangda Special sees first-quarter slump in profit
Fangda Special Steel saw both revenue and net profit slump in the first quarter 2020, hit by a delay in the resumption of work due to the coronavirus, Kallanish notes.
Orders and profit/tonne of steel both fell. During the first quarter, the company’s sales volume declined by -12.8% year-on-year because of the delayed recovery in demand. Meanwhile, prices for construction steel slumped rapidly by around CNY 300/tonne, while iron ore prices were stronger. The…
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Anonymous
Very good overview of the weekly steel market.
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