Baoshan Steel 2019 production nudges up, profit plunges
Apr 29, 2020 18:00
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Finished steel production at Baoshan Iron and Steel Co, the listed-arm of China Baowu Steel Group, rose by a tiny 0.3% on year during 2019 while its net profit attributable to shareholders slumped by a large 42.1% on year, according to the company’s latest annual financial report released on April 29.
Last year, Baoshan Steel produced 46.9 million tonnes of finished steel products, among which output of carbon steel hot-rolled coil grew 2.7% on year to 20.8 million tonnes while that of carbon steel cold-rolled coil dipped 3.7% on year to 17.8 million tonnes, according to the annual report. These two