31
Mar
04:29
Magang's financials slide in 2019
Ma’anshan Iron and Steel (Magang) has released its 2019 financial report, showing that both revenue and net profit were hit by falling flat product prices. The steelmaker is now part of the Baowu Group, Kallanish notes.
During 2019, its operating revenue slumped by -4.5% year-on-year to CNY 78.26 billion ($11.04 billion). Its net attributable profit also declined by -81.0% y-o-y to CNY 1.13 billion. In the whole year, the company produced 18.1 million tonnes…
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Anonymous
Very good overview of the weekly steel market.
Anonymous