02
Nov
11:28
Wugang losses hit CNY 1.5bn in Q3
Central China’s Wuhan Iron and Steel (Wugang) has booked a net loss attributable to shareholders of CNY 1 billion ($158 million) over January-September after losing CNY 1.52 billion in the third quarter. The company booked a foreign exchange loss of CNY 826m after China unexpectedly depreciated the yuan over the summer, Kallanish notes.
Eastern China’s Baosteel also saw losses in the third quarter on an extraordinary increase in financial c…
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Anonymous
Very good overview of the weekly steel market.
Anonymous