29
Oct
07:22
Lower prices hit Chinese steelmakers' earnings
Falling steel prices continued to hit Chinese steel enterprises’ earnings in September, resulting in a huge decline in third-quarter profits, according to the data from the National Bureau of Statistics.
As of September this year, domestic steel companies generated a profit of CNY 366.58 billion ($57.4 billion) from total revenue of CNY 7.24 trillion, which respectively grew by 40.7% and 144.8% year-on-year, Kallanish notes.
In addition to lower sellin…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous