27
Oct
08:52
HBIS, Shagang double profits in first three quarters
China-listed Hebei Iron & Steel (HBIS) Company and Shagang almost doubled their net profits year-on-year in the first three quarters due to strong steel prices, Kallanish reports.
In the third quarter alone, HBIS earned net profit of CNY 848 million ($133m) on operating income of CNY 46.7 billion. The two figures rose 80.04% and 54.3% year-on-year respectively. Nine-month net profit surged 104.15% to CNY 2.37 billion.
Shagang achieved an income from…
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Anonymous
Very good overview of the weekly steel market.
Anonymous