Chief executive of Baosteel Corp. denies speculation about nickel-induced losses

Source: Internet
Author: User
Keywords Related transactions stock Baosteel Group stainless steel products Baosteel shares
Every reporter Satsu from Shanghai, there is news that Baosteel group in the nickel hedging may be committed with the Eastern Airlines, Air China is the same mistake, become another hit by huge losses of large enterprises. Shanghai medium-term Futures Brokerage Co., Ltd. Metal Division general manager Biminghai 8th to the "Daily economic news" Reporter said, the only evidence is that Baosteel's shares in the 3 quarterly release of stainless steel products and stainless steel raw materials to prepare a depreciation of 990 million yuan, but this only means that Baosteel has committed a "stockpile" problem, " There is no information to show that the Baosteel group does have any speculative losses, which may only be known to them. "Baosteel shares 600019.  SH) Dong-chen Cherry is denied speculation nickel caused large losses of the argument, the Secretary of the 8th also said to further explain the centralization of Baosteel Group, but as of press, Baosteel group related departments did not comment. "The news came again today, and Baosteel's shares have apparently been affected by the low drive down and the biggest drop of around 10 o'clock has exceeded 3%."  Zeng Jieshe, an analyst at the Iron and Steel Research Center, said that from Baosteel's 8th final close to 6.74 yuan/shares, the rise of 1.35%, "Fry nickel loss of 990 million yuan," the argument is not substantially affected. Baosteel shares in the 3rd quarterly report in 2008, disclosed that "the price of nickel and stainless steel products, the impact of a sharp drop in the three quarter of the company's stainless steel products loss, the stainless steel products and stainless steel raw materials for the depreciation of 990 million yuan." "It is reported that Baosteel Resources Limited in the iron and steel group nickel spot procurement chain in the exclusive operation of nickel imports, and in Baosteel's 2008 Annual report, Baosteel Resources Co., Ltd. and other 9 companies in the procurement and sales of the related transactions," the amount of the related transactions are huge, Among them the purchase link transaction volume is 21.1 billion yuan. "Some sources believe that the linked transaction may transfer the shares of Baosteel in the nickel trade losses, this reporter yesterday called Baosteel Resources Limited Responsible person, the person is very cautious, and refused to give comments."
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