Minmetals Development Co., China’s largest integrated steel trading and logistics services provider announced that its sales forecast report recently.
According to its report, Minmetals Development expected that it may loss RMB 350 million in 2012 due to the unclear global economic situation and weak demand in steel industry.
Since 1994, Minmetals Development has created at least RMB 100 million of net profits per year and the company even earned sales profits of RMB 380 million in 2010 and RMB 540 million in 2011.
The current sales loss will be the worst sales number for the company in recent 18 years.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62805&division=A6
