Moody's: Outlook for Asian steelmakers is negative in 2017 on weakening earnings
Hong Kong, November 30, 2016-- Moody's Investors Service says that the outlook for Asian steelmakers is negative in 2017 as earnings will weaken amid declining production and lower profitability. "We expect EBITDA per tonne to weaken in 2017, given that the robust profitability recorded by steelmakers in mid-2016 is unsustainable against the backdrop of persistent oversupply and the limited ability to pass on rising raw material costs to customers," says Jiming Zou, a Moody's...
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