HONG KONG (Yosefardi) – Chongqing Iron & Steel Co Ltd, one of major steel producers in the region, produced 418,675 tons of steel last month, down 6% from May 2012.
Chongqing, however, produced 2.3 million tons in five months of 2013, representing an 11.7% growth over the corresponding period of 2012.
Chongqing Iron’s shares ended flat at HK$1.1 Thursday (June 6th). The stock has declined substantially from HK$1.59 early this year.
The company’s share price reached its peak of almost HK$4 in late 2009, but has since dropped to as low as HK$0.88 late last year.