31
Oct
08:08
Baowu’s listed arms suffer in third quarter
Five of China Baowu Group’s listed subsidiaries, Bayi Steel, Chongqing Steel, Magang, Zhongnan Steel, and Taigang Stainless, reported huge losses in the third quarter amidst an industry downturn. Baosteel however still realised profit during the period and offset some of the negative impact on the group as a whole, Kallanish notes.
The loss-making companies largely blamed the widening spread between costs and selling prices for their weak resu…
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Anonymous
Very good overview of the weekly steel market.
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