04
Nov
00:00
Iraq rebar mill weighs on Astra Industrial Q3 profit
Saudi conglomerate Astra Industrial Group saw lower gross margins and higher operating costs at its Iraq-based rebar mill contribute to a 65% year-on-year decline in net profit in the third quarter. This fell to SAR 17.9 million ($4.77m), Kallanish learns from the company.
Basra-based Al Tanmiya for Steel Industries, in which Astra holds a 51% stake, has a 300,000 tonnes/year 8-42mm diameter rebar capacity and 435,000 t/y electric arc furnace-based billet pl…
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Very good overview of the weekly steel market.
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