27
Apr
03:30
Falling market puts pressure on HBIS 2019 profit
HBIS has published its 2019 annual report, showing that its profit was heavily affected by the falling market during the year, Kallanish learns.
HBIS's listed arm produced 27.12 million tonnes of iron in 2019, an increase of 2.1% year-on-year. Crude steel and finished steel production fell by -0.3% and -1.8% y-o-y to 26.72mt and 25.32mt respectively.
The company says that the gross margin per tonne of steel dropped to CNY 555/tonne ($78.38/t) or by CNY 5…
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Anonymous
Very good overview of the weekly steel market.
Anonymous