Masteel’s net profit down 74 percent in January-September

Monday, 04 November 2019 11:22:17 (GMT+3)   |   Shanghai

Anhui Province-based Chinese steelmaker Masteel has announced that in the first nine months this year it registered an operating revenue of RMB 57.58 billion ($8.2 billion), down 8.77 percent year on year, and a net profit of RMB 1.46 billion ($0.21 billion), declining by 73.77 percent year on year.

Masteel stated that the rise in crude steel output in China, the decline in steel prices and increases in raw material prices exerted a negative impact on Masteel’s net profit in the given period. 

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