Shagang's net profits up YOY in Q1 2017
2017-03-31 17:41:53 [Print]
According to the forecast of the financial results released by Jiangsu Shagang Co., Ltd. (002075) on March 29th, 2017, the company’s profits in the first quarter of 2017 will be between RMB85 million and RMB110 million, up by 2,018%-2,640% YOY.
In the first quarter of 2017, prices for steel material increased continuously, while those for iron ore slowed down in increasing with prices for coking coal and coke decreasing to some extent. Under this background, Shagang optimized its selling strategies, strengthened internal managements, tried to lower manufacturing costs and thus realized good financial results.
In the first quarter of 2017, prices for steel material increased continuously, while those for iron ore slowed down in increasing with prices for coking coal and coke decreasing to some extent. Under this background, Shagang optimized its selling strategies, strengthened internal managements, tried to lower manufacturing costs and thus realized good financial results.
