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Puyang Refractories reports steep loss in 2016

By Albert Li
Published: Monday, 24 April 2017

The Chinese company posted a drop in profits exceeding 300% owing to an underperforming steel market and lower demand from cement makers, while the raw materials divisions performed better.

Puyang Refractories Group Co., one of the leading refractories manufacturers in China, posted a 17% drop in 2016 full year turnover to Chinese renminbi (Rmb) 2.34bn ($265.37m), while net profit plummeted 378% year-on-year (y-o-y) to a loss of Rmb 188.26m.

Puyang has two refractory divisions,one supplying the...

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