21
Apr
02:21
Rising steel supply pressures Xinyu Steel's 2019 profit
Xinyu Steel (Xingang) in Jiangxi province saw profit fall in line with the wider steel industry trend in 2019. Besides the higher cost of iron ore, growing steel supply was also squeezing profits, Kallanish notes.
In 2019, the company produced 9.16 million tonnes of iron, 9.02mt of crude steel and 8.74mt of finished steel, showing increases of 1.33%, 1.02% and 0.58% year-on-year respectively. Its financial data showed that its gross margin declined by -5…
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Anonymous
Very good overview of the weekly steel market.
Anonymous