15
Jun
01:00
Australia's Arrium expects more write-downs
Australia’s Arrium expects to book another AUD 320 million ($248 million) in write-downs due to low iron ore prices and will launch a review into assets which could be sold. The company has been fighting to reduce costs and has already sold some assets, Kallanish notes.
The AUD 320m write down is mainly due to the impact of falling prices on the company’s cash flow and follows an AUD 1.3 billion write-down in January. The January write …
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Anonymous
Very good overview of the weekly steel market.
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