25
Apr
06:14
Shagang’s profit decline expands in Q1
In the first quarter, China-listed Shagang saw its operating income decline on an on-year basis. The profit decline also expanded rapidly compared with last year, according to exchange filings on the Shenzhen Stock Exchange.
Quarterly unaudited income and net profit of Shagang totalled CNY 3.88 billion ($562 million) and CNY 51.49m, which slumped 16.26% and 73.88% y-o-y, respectively, Kallanish notes.
The net profit after deducting non-recurring gains fell 99.47%…
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Anonymous
Very good overview of the weekly steel market.
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