24
Feb
08:09
Wujin Stainless sees profits decline in 2020
Jiangsu Wujin Stainless Steel Pipe Group realised operating income of CNY 2.4 billion ($371.5 million) in 2020, up 3.33% on-year, but profit fell 30.61% to CNY 253.6m, Kallanish notes.
The firm attributed the results to the decline in comprehensive gross profit margin for its main products. Last year, some planned exports had to be diverted to the domestic market due to disrupted international trade, while rising raw materials prices and labour costs also put pres…
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Anonymous
Very good overview of the weekly steel market.
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