11
Apr
05:57
Liugang estimates 366% first-quarter profit increase
The listed arm of Liuzhou Iron & Steel Group (Liugang) predicts around 368-499% year-on-year growth in first-quarter profit, with net attributable profit of around CNY 951 million-1,215 million ($151m-193m), it tells the Shanghai Stock Exchange.
Liugang says the good performance is mainly thanks to cost cutting and the y-o-y increase in steel prices. Over the period it also received CNY 8m in government subsidies, Kallanish notes.
Although domes…
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Anonymous
Very good overview of the weekly steel market.
Anonymous