26
Oct
10:22
Angang anticipates huge losses in Q3
Shenzhen-listed Anshan Iron & Steel (Angang) on Thursday reported that it expects huge losses for the third quarter this year, and blamed the loss on a sharp rise in the price of its main raw materials, and sluggish demand and low steel prices since March.
For the September quarter, Angang predicted a loss of CNY 1.52 billion ($212 million), compared with a gain of CNY 2.33 billion registered a year earlier after revision, Kallanish notes.
Between January and…
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Anonymous
Very good overview of the weekly steel market.
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