04
Nov
12:21
Shangang’s 9M profits fall by 91%
Consistent with the crisis encountered by most Chinese carbon steel companies, Shandong Iron and Steel (Shangang) also faced huge losses in the third quarter, dragging down its profitability in the first three quarters of 2022, according to its quarterly exchange filing.
Over the nine months through September, the company produced 11.26 million tonnes of finished steel, up 1.7% on-year, Kallanish notes. Of that, plate and rebar has seen increases of 10.4…
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Anonymous
Very good overview of the weekly steel market.
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