Chilean CAP doubles its profit in 2017 to US$130.2 million

It is reported that Chilean steelmaker CAP finished 2017 with profit of US$130.2 million, almost double compared to the profit US$60.291 million in 2016.

During 2017, the company registered net profit of US$200.8 million in its iron ore mining business, which was due to the 24.8% increase in the average price of iron ore during 2017 compared to 2016, despite of the decrease in the delivered tonnage.

However, the company registered a net loss of US$21.3 million in its steel production business, which was due to the sudden increases experienced during the first half of the year in the prices of raw material such as iron and coal, despite being normalized during the rest of 2017, according to CAP. -metal exhibition Metal exhibition, Metal expo, 2018 Metal exhibition, 2018 Metal expo, China Metal exhibition, China Metal expo, steel exhibition, steel expo, 2018 steel exhibition, 2018 steel expo, China steel exhibition, China steel expo