Angang expects net loss of RMB 1.888 billion for Q1

Monday, 16 April 2012 14:54:27 (GMT+3)   |  
       

Henan Province-based Chinese steelmaker Anyang Iron and Steel Group (Angang) has issued its financial results forecast for the first quarter of the current year.

Accordingly, Angang expects a net loss of RMB 1.888 billion ($298 million) for the first quarter of this year. The weakness of steel prices contributed to the loss in question.

Angang posted a loss of RMB 2.16 billion for 2011, citing increases in raw material and fuel prices which exceeded the rise in prices of steel products.
 


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