SteelMint

Author: Lalita

  • China: Baosteel’s net profit hits over 2-year high in Q1 CY’21

    China: Baosteel’s net profit hits over 2-year high in Q1 CY’21

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    Lalita
    in

    China’s biggest steelmaker Baoshan Iron and Steel (Boasteel) has recorded net profit at RMB 5.4 billion ($832.5 million) in Q1 CY’21 – the highest since Q4 CY’18. The profit is 247.8% high y-o-y compared to Q1 CY’20, thanks to robust steel consumption and cost reduction efforts. Further, the steelmaker expects the net profit to increase…