12
Apr
11:18
Hanggang forecasts first-quarter profit surge
China’s Hangzhou Iron & Steel (Hanggang) predicts its net profit attributable to shareholders in the first quarter to be CNY 358 million ($54.7m), up 152.11% year-on-year, Kallanish notes from its stock exchange filing.
The company attributes the increase in profit to high steel prices amid the economic recovery, and strong downstream demand.
Most China-listed steel companies have reported or predicted profits soaring by over 100% y-o-y in Q1. Chin…
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Anonymous
Very good overview of the weekly steel market.
Anonymous