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Print[Ferro-alloys.com] Leading iron enterprise Baoshan Iron & Steel issued its financial report of Quarter 3, 2013 on late October 29th. According to the report, its revenue in the first three quarters was RMB 142.26 billion (USD 22.9 billion), down 2.42% year-on-year. Net profit was RMB 4.64 billion, down 56.99% year-on-year.
Baosteel said world and domestic economy improved substantially in the third quarter, but supply of steel market did not change much while sales price bounced off the bottom. Most large and medium steel enterprises met slight profit recovery and continuous loss was reversed, but overall industry maintained a small profit. There would still be much uncertainty in external market in the fourth quarter.
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