Taigang Stainless Steel expects 57.68-61.21% drop in net profit for H1

Thursday, 18 July 2019 11:11:07 (GMT+3)   |   Shanghai
       

Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd has stated that it expects its net profit for the first half of the current year to be in the range of RMB 1.1-1.2 billion ($0.16-0.17 billion), down 57.68-61.21 percent year on year.

The company said that in the given period finished steel price margins shrunk due to continuous rises in import iron ore prices and due to the high levels of coal and coke prices, resulting in a decline in its net profit.

 


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