06
Feb
06:48
Shagang 2017 non-steel business increase threatens steel profits
Jiangsu Shagang Group produced 30.2 million tonnes and 33.25mt of iron and steel respectively last year. It also posted CNY 198.3 billion ($28.9 billion) in sales income and CNY 5.05 billion in profits, according to its earnings estimates. In 2017 it aims to increase its non-steel business sector profits to 20-30% of the total, from 17.6% or CNY 889 million last year, leaving less room for steel, Kallanish notes.
Last year Shagang's 13 no…
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Anonymous
Very good overview of the weekly steel market.
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