22
Apr
07:17
Shougang reports quarterly losses after profitable 2023
China-listed flat steelmaker giant Beijing Shougang on Monday reported losses for the first quarter of this year, after achieving profit growth despite the downward market trend in 2023, Kallanish notes.
In Q1, Shougang’s turnover rose 2.87% year-on-year to CNY 29.54 billion ($4.08 billion), but it still saw a net loss of CNY 24.3 million. Compared with a loss of CNY 58.48m registered a year earlier, the improvement was due to “increased profits from i…
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Anonymous
Very good overview of the weekly steel market.
Anonymous