14
Feb
08:40
Wujin Stainless reports reduced profit despite surging sales
China-listed Jiangsu Wujin Stainless Steel Pipe Group reported a 20.71% year-on-year decline in net profit attributable to shareholders in 2021 to CNY 174.78 million ($27.49m), Kallanish notes.
Operating income nevertheless increased 12.42% to CNY 2.7 billion. The company blames the shrinking profit on rising raw material prices and lower profit margins caused by declining prices of products in downstream industries.
Wujin Stainless produced 51,956 tonnes of stai…
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Anonymous
Very good overview of the weekly steel market.
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