Shanxi Taigang Stainless Steel Co Limited has announced a profit turnover in its Q3 earnings report, thought with the same profit losses in the first 9 months compared with last year.

In detail, Taigang Stainless Steel has gained CNY 50 million in the first 9 months of 2009, down by 98.05% to 100% YoY as compared with CNY 2.565 billion in the same period of last year.

However, the steel mill has realized a profit improvement alone in Q3, up by 64.17% to 76.23% YoY. Impacted by the world financial crisis, steel products price presented a large decline in the first nine months this year, but it achieved profit growth in the third quarter this year through products mix adjustments.

(Sourced from MySteel.net)
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