25
Apr
06:19
Lingyuan Steel reports losses despite production hikes
China-listed Lingyuan Iron & Steel on Thursday reported large losses for the year 2023, despite higher production of all products, Kallanish notes.
In 2023, the company produced 5.21 million tonnes of iron, up 8.27% from a year earlier. Meanwhile, crude and finished steel output grew 6% and 6.51% respectively to 5.41mt and 5.39mt.
The combined sales of strips, bars, wire rods and pipes also rose 6.78% year-on-year to nearly 5.38mt.
However, Lingyuan Steel st…
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Anonymous
Very good overview of the weekly steel market.
Anonymous