Major Chinese coke producer Shanxi Province-based Shanxi Coking Co., Ltd. (Shanxi Coking) has announced that its net profit is expected to amount to RMB 1.21-1.37 billion ($0.17-0.19 billion) in 2023, down 46.79-52.99 percent year on year.
The company stated that the global economic recovery was weak in 2023, while coal prices were at relatively high levels during the year and the steel industry was facing a poor performance, resulting in the reduced profitability of coking enterprises.