SGIS Songshan expects 44.78 percent fall in net profit for H1

Friday, 19 July 2019 10:00:00 (GMT+3)   |   Shanghai
       

Guangdong Province-based Chinese steel rolling and processing company SGIS Songshan Co., an affiliate of Guangdong-based Shaoguan Iron and Steel Co. (Shaogang), has announced that for the first half of the current year it expects to register a net profit of RMB 970.0 million ($141.2 million), down 44.78 percent year on year.

SGIS stated that during the given period import iron ore prices indicated sharp rises, while finished steel prices declined on year-on-year basis, resulting in the decrease in its net profit.


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