27
Jan
00:00
Mill maintenance delays SSP medium-dia pipe deliveries after Q4 profit plunges
Unscheduled maintenance at its medium diameter pipe mill has resulted in the postponement of some Saudi Steel Pipe Company (SSP) deliveries from the fourth quarter of 2014 to Q1 2015. Those shipments began this month and will be reflected in Q1 results, Kallanish learns from SSP.
The firm’s net profit declined 55% year-on-year in Q4 to SAR 5.3 million ($1.41m) due to lower medium dia pipe sales as a result of the mill maintenance. An increase in labour…
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Very good overview of the weekly steel market.
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