25
Mar
06:14
Magang performance weakens in fourth quarter
Ma'anshan Steel Corporation (Magang) saw its revenue increase in full-year 2018 but fall sharply in the fourth quarter. The company's output fell in Q4 as it closed furnaces, Kallanish notes.
Net attributable declined -83.29% quarter-on-quarter in Q4 to CNY 900 million ($134.3m). Profit fell in part because both long and flat products were impacted by steadily lower steel prices since November.
A blast furnace, meanwhile, also…
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Anonymous
Very good overview of the weekly steel market.
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