26
Oct
10:19
Baosteel’s Q3 profit slumps despite stable sales
As demand trended lower and profit margins dipped deeper, China-listed Baosteel has reported a slump in third-quarter profits despite sales remaining firm. This in turn caused a further drag on year-to-date earnings, according to its exchange filings.
In the September quarter, Baosteel produced 11.77 million tonnes of iron, which declined 4.9% from the second quarter but increased 13.2% year-on-year. Ytd iron output was boosted to 34.87mt, rising 5.2% from a …
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Anonymous
Very good overview of the weekly steel market.
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