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Angang Steel (HKG:347 Investor Three-year Losses Grow to 54% as the Stock Sheds HK$656m This Past Week
In the third quarter, the loss amount is close to the annual level of last year. How to solve the "dilemma" of the steel industry? Suggestions from the industry recommend actively reducing production.
①In the third quarter, the losses in the steel industry worsened, with 21 out of 27 listed steel smelting companies experiencing losses, totaling over 14.5 billion yuan, with the total quarterly loss amount almost approaching that of the entire previous year. ②Industry experts believe that the main reason for the losses is the overcapacity in the steel industry itself, poor industry self-discipline, failure to actively limit production, oversupply of products, continuous decline in steel prices, slow decrease in raw material prices, and severe industry profit compression.
Angang Steel: Decrease in Profit Mainly Due to Decline in Steel Settlement Prices Exceeding Raw Material Prices>0347.HK
Angang Steel 9-Mos Total Oper Rev CNY79.26B Vs. CNY85.95B >0347.HK
Angang Steel Co., Ltd.: Report for the third quarter of 2024
Angang Steel (00347) announced its performance for the first three quarters, with a net loss attributable to the parent company of 5.084 billion yuan, a year-on-year increase of 140.61%.
Angang Steel (00347) released its third-quarter performance in 2024, with revenue of 238.1...
Strong Week for Angang Steel (HKG:347) Shareholders Doesn't Alleviate Pain of Five-year LossNo Data
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