02
Feb
02:58
Baowu, Angang earnings diverge in 2023
Baowu Group and Angang Group, China’s top two steelmakers, have seen completely differently earnings performances amid the 2023 market slowdown, Kallanish notes.
Baowu in mid-January reported an annual profit of CNY 31.61 billion ($4.42 billion) on turnover of CNY 1,103 billion (see Kallanish 17 January). This accounts for nearly 60% of the total net profit of the whole ferrous smelting and rolling industry during the period.
As for Baosteel, the main liste…
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Anonymous
Very good overview of the weekly steel market.
Anonymous