26
Oct
12:37
Shagang turns losses into gains in 2016
Over January to September, Shagang saw revenues of CNY 5.23 billion ($771.7 million), a decrease of -23.14% year-on-year. It managed to return to profit over the period however thanks in part to reduced costs, Kallanish notes.
Shagang posted a net profit of CNY 250.54 million in the first nine months of 2016.This was mainly because of a major reduction in costs even though the company’s production and business revenue had fallen by over -20% y-o-y. Revenue…
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Anonymous
Very good overview of the weekly steel market.
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