Baoshan Steel Jan-Sept net profits down 13%, output dips

Baoshan Iron & Steel Co (Baoshan Steel), the Shanghai-listed arm of China Baowu Steel Group, saw an on-year decline of 12.9% in net profit over this year’s January-September period, given lower production and sales of major products, according to its Q3 report published on October 30.

The steel giant produced 32.8 million tonnes of molten iron and 35.3 million tonnes of crude steel over the first three quarters, it said. The company provided no on-year comparison but based on data for the same period last year, Mysteel Global calculates that the nine-month totals were 1.8