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Chinese Ansteel Group may return to gain in May
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It’s reported that Ansteel Group said that the firm may return to gain in May after the continuous loss in the first four months of this year.
Ansteel, the largest crude steel producer in China posted losses of RMB1.89 billion in the first quarter of this year.
It’s known that Ansteel Group owns huge iron ore assets, which contributes the group’s major profits.
Though Ansteel Group supplied huge amounts of iron ore fines to its listed company Ansteel, it still can’t compensate the losses caused by lower steel prices.
However, Ansteel Group stated that the company may have chance to return to gain in May.
News Date
5/24/2012 8:40:00 AM
reported by
Ruth Wang
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