06
May
10:49
Xining Special reports losses despite higher sales
Despite increases in both steel production and sales in the first quarter, China-listed Xining Special Steel reported net losses for the period, Kallanish notes.
Quarterly production and sales of finished steel came to 521,043 tonnes and 503,974t, respectively rising 17.99% and 15.27% year-on-year. But the average sales price fell 3.07% to CNY 4,717/tonne ($706/t) at the same time.
As the increase in sales outpaced the drop in prices, operating income in Q1 …
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Anonymous
Very good overview of the weekly steel market.
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