22
Mar
08:26
Chonggang profits decline while production increases
Chongqing Iron & Steel (Chonggang) reported net profit of CNY 640 million ($98m) in 2020, down 31% year-on-year. Production, meanwhile, climbed slightly to hit record highs, Kallanish notes from the firm’s 2020 results announcement.
In 2020, Chonggang produced 6.38 million tonnes of iron, up 4.39% y-o-y. Production of crude steel and finished steel rose by 5.83% and 5.45% respectively to 7.12mt and 6.78mt.
The rising sales, and a higher proportio…
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Anonymous
Very good overview of the weekly steel market.
Anonymous