20
Mar
06:00
Pingmei increases coal output, lower prices slash earnings
Pingdingshan Tianan Coal Mining (Pingmei), located in Henan Province, China, produced more coking coal year-on-year in 2023 but saw reduced earnings due to lower sales prices, Kallanish notes.
Production reached 12.69 million tonnes, up 6.83% y-o-y. But gross profit from this sector dropped 19.1% to CNY 8.89 billion ($1.24 billion) due to lower prices. The firm sold 12.71mt of coking coal. The average price was CNY 1,838/tonne, down 15.38% y-o-y.
Althou…
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Anonymous
Very good overview of the weekly steel market.
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