30
Oct
10:12
Economic rebound sees Baosteel third-quarter profit soar
Baowu Group's main listed arm, Baosteel, saw profit soar in the third quarter. This increased by 51% on-quarter to CNY 5.31 billion ($794.3 million), Kallanish notes.
In January-September, Baosteel reported operating revenue of CNY 200 billion and a profit of CNY 7.859 billion, down -7.77% and -12.86% respectively year-on-year. Performance was impacted by the Covid-19 pandemic.
"The recovery of the third quarter's performance…
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Anonymous
Very good overview of the weekly steel market.
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