China's Angang Steel Expects Q1 Net Loss 1.888 Bln Yuan-Shanghai Metals Market

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China's Angang Steel Expects Q1 Net Loss 1.888 Bln Yuan

Industry News 11:09:16AM Apr 16, 2012 Source:SMM

HONG KONG, April 13 (Reuters) - China's Angang Steel Co Ltd said on Friday that it expects to record a net loss of 1.888 billion yuan ($299.34 million) for the first quarter.

Angang Steel made the announcement on the Shenzhen Stock Exchange.

The company posted a net loss of 2.16 billion yuan for 2011 on an increase in raw materials and fuel prices that exceeded the rise in the price of steel products.

($1 = 6.3073 Chinese yuan)
 

Key Words:  Angang Steel  steel 

China's Angang Steel Expects Q1 Net Loss 1.888 Bln Yuan

Industry News 11:09:16AM Apr 16, 2012 Source:SMM

HONG KONG, April 13 (Reuters) - China's Angang Steel Co Ltd said on Friday that it expects to record a net loss of 1.888 billion yuan ($299.34 million) for the first quarter.

Angang Steel made the announcement on the Shenzhen Stock Exchange.

The company posted a net loss of 2.16 billion yuan for 2011 on an increase in raw materials and fuel prices that exceeded the rise in the price of steel products.

($1 = 6.3073 Chinese yuan)
 

Key Words:  Angang Steel  steel