13
Feb
03:00
Hanggang records $193m profit in 2016
Hangzhou Iron & Steel Group (Hanggang) earned CNY 1.33 billion ($192.88 million) in profit in 2016, despite having 3.6 million tonnes/year of steel capacity closed in 2015, according to local media.
Hanggang thanks its business portfolio restructuring and steel capacity cuts for the improved performance, with the non-steel sector again the main source of group profits in 2016, Kallanish notes.
Hanggang has now cleared all of its capacity in Hang…
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Anonymous
Very good overview of the weekly steel market.
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