Ansteel foresees 78.22 percent drop in Q1 net profit

Friday, 12 April 2019 10:57:13 (GMT+3)   |   Shanghai

Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced that its net profit in the first quarter of the year is expected to total RMB 417.0 million ($62.1 million), down 78.22 percent year on year.

In the given period, finished steel prices were lower than in the same period of the previous year, while coal and iron ore prices indicated sharp rises, resulting in high costs of finished steel and a lower net profit.

Most Recent Related Articles

US beam imports down 48.9 percent in November

S. Africa's iron ore output down by 7.6 percent in Nov from Oct

Turkish mills manage to keep HRC prices stable for now

Turkish welded pipe prices stable, mood cautious

Export price increases for Brazilian rebar