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China Maanshan Steel’s Net Profit down 94.09% in Q1 2019 YoY

https://en.steelhome.com [SteelHome] 2019-04-26 14:51:36

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Masteel announced 2019 Q1 report that it achieved operating revenue of 17.717 billion yuan, down by 3.23% year on year. Net profit attributable to shareholders of the listed company was 83.746 million yuan, down 94.09% year on year.

According to the report, the group produced 4.16 million tons of pig iron, 4.53 million tons of crude steel, 4.21 million tons of steel products in the first quarter of 2019, down 11.49%, 10.47% and 11.92% respectively compared with the previous year, which is mainly affected by the permanent closure of two 420 cubic meters blast furnace in April 2018 and two 40t BOFs in October 2018, and the maintenance of a 2500 cubic meters blast furnace during January and February this year.

(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932)
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