"Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . Maanshan Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst Charles Spencer said Oct. 28. The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. 
Share:  "Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . <span class="sent"> <span class="company">Maanshan</span> Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst <span class="analyst">Charles Spencer</span> said Oct. 28. </span> The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. ..."Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . <span class="sent"> <span class="company">Maanshan</span> Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst <span class="analyst">Charles Spencer</span> said Oct. 28. </span> The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. Tweet this 

"Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . Maanshan Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst Charles Spencer said Oct. 28. The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. 
Share:  "Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . <span class="sent"> <span class="company">Maanshan</span> Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst <span class="analyst">Charles Spencer</span> said Oct. 28. </span> The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. ..."Producers' cautious stance is in line with our expectation as they are facing close to cash cost level prices." . <span class="sent"> <span class="company">Maanshan</span> Iron & Steel Co. , the second biggest Chinese mill listed in Hong Kong, probably had its best earnings for the year in the third quarter, Morgan Stanley analyst <span class="analyst">Charles Spencer</span> said Oct. 28. </span> The mill said Oct. 27 that third quarter profit rose 2 percent to 802.3 million yuan. The Chinese government is working on plans to close obsolete mills and promote mergers, Deng Qilin, chairman of the steel association, said Oct. 13. Some mills have incurred losses at current prices which won't rebound this year, he said. Tweet this 

Brazilian ore prices may decline 35 percent and Australian contract prices may fall 40 percent in 2009, Morgan Stanley said in an April 1 report. Morgan Stanley cut its regional hot rolled coil price estimate to $490 a metric ton from $550 a ton, and projected Posco's price may fall by 12 percent to 750,000 won a ton after raw material costs drop in April, analysts including Charles C. Spencer said in the report. To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net . 
Share:  Brazilian ore prices may decline 35 percent and Australian contract prices may fall 40 percent in 2009, Morgan Stanley said in an April 1 report. <span class="sent"> Morgan Stanley cut its regional hot rolled coil price estimate to $490 a metric ton from $550 a ton, and projected <span class="company">Posco</span>'s price may fall by 12 percent to 750,000 won a ton after raw material costs drop in April, analysts including <span class="analyst">Charles C. Spencer</span> said in the report. </span> To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net . Tweet this