Baosteel profit declines 11%
January 18, 2010, Monday
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Print Edition
Print Edition
NET profit at Baoshan Iron and Steel Co, China's biggest steel maker, declined 11 percent year on year to 5.75 billion yuan (US$842 million) in 2009.
Its total revenue stood at 148.3 billion yuan last year, down 25.95 percent from a year earlier, said the Shanghai-based company in a report to the Shanghai Stock Exchange on Saturday, without giving reasons for the losses. China's steel product prices fluctuated frequently last year against the backdrop the world economic recession melted steel demand at home and abroad. The country's composite steel price index declined to 107.2 points at the end of December from its 179.9 points peak on August 5.
Its total revenue stood at 148.3 billion yuan last year, down 25.95 percent from a year earlier, said the Shanghai-based company in a report to the Shanghai Stock Exchange on Saturday, without giving reasons for the losses. China's steel product prices fluctuated frequently last year against the backdrop the world economic recession melted steel demand at home and abroad. The country's composite steel price index declined to 107.2 points at the end of December from its 179.9 points peak on August 5.
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