China’s Shagang Steel registers increased profits in Q1CY ’21

China’s largest EAF steelmaker – Shagang Steel has released its quarterly results today for Q1CY ’21.

• The company has achieved a total operating income of RMB 4.1 billion, an increase of 49% y-o-y.
• Net profit of RMB 220 million, up by 128.9% y-o-y.
• Boosted by the rise of steel prices and sales volumes, the company expects to achieve profit in H1 CY’21