WISCO Expects 2011 Profit to Rise 17.4%-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Macroeconomics
  • Production data
  • Zinc
  • Futures movement
  • Aluminium
  • Nickel
  • Copper
  • In the United States
  • nickel laterite
  • Morning comments
  • Nickel ore
  • NPI
  • Market commentary

WISCO Expects 2011 Profit to Rise 17.4%

Industry News 04:15:26PM Dec 29, 2011 Source:SMM

Dec. 29, 2011 (China Knowledge) - Wuhan Iron and Steel (Group) Corp or WISCO, one of the leading iron and steel makers in China, expected its profit to grow 17.4% this year from RMB 3 billion in 2010.

The steel maker said in a statement published on its website that its revenue is estimated to increase 14.3% this year from last year's RMB 185 billion.

The group's crude steel output may increase 3% year on year to 37.65 million metric tons this year, and its output of steel products rose 3.7% to 37.36 million metric tons.

Deng Qilin, General Manager of WISCO, the company may turn into loss in 2012 due to the continued shortage of iron ore and high logistics cost.

Deng added that the Chinese steel industry will see severe challenges from 2012 and only gain small profit or even be in loss for quite a long time.
 

Key Words:  Wuhan Iron and Steel  WISCO 

Price

more
Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

WISCO Expects 2011 Profit to Rise 17.4%

Industry News 04:15:26PM Dec 29, 2011 Source:SMM

Dec. 29, 2011 (China Knowledge) - Wuhan Iron and Steel (Group) Corp or WISCO, one of the leading iron and steel makers in China, expected its profit to grow 17.4% this year from RMB 3 billion in 2010.

The steel maker said in a statement published on its website that its revenue is estimated to increase 14.3% this year from last year's RMB 185 billion.

The group's crude steel output may increase 3% year on year to 37.65 million metric tons this year, and its output of steel products rose 3.7% to 37.36 million metric tons.

Deng Qilin, General Manager of WISCO, the company may turn into loss in 2012 due to the continued shortage of iron ore and high logistics cost.

Deng added that the Chinese steel industry will see severe challenges from 2012 and only gain small profit or even be in loss for quite a long time.
 

Key Words:  Wuhan Iron and Steel  WISCO