18
Mar
07:27
Fangda Special’s annual earnings, sales volumes drop
China’s Fangda Special Steel reports falling sales and earnings for 2023 amid the market downturn, but it still managed to post a profit, Kallanish notes.
In 2023, the company’s annual output of finished steel decreased 3.73% year-on-year to less than 4.19 million tonnes. Meanwhile, its sales dropped 3.55% to slightly over 4.19mt, of which 63% was rebar.
Along with falling sales, Fangda saw its annual revenue fall 15.75% on-year to CNY 26.51 billion (…
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Anonymous
Very good overview of the weekly steel market.
Anonymous