11
Mar
00:00
Russian mills enjoy export bonanza at cost of EU market, in particular
Russia’s steel mills are making large gains as the value of the rouble slides, market observers tell Kallanish. Severstal for example, reported its best core earnings margin in six years in the last quarter of 2014, because the weak rouble has enabled it to boost exports and cut operating costs. The company’s ebitda margin climbed to 32% in Q4.
Groups like Severstal and NLMK pay salaries and transport in roubles, but earn dollars or euros for the…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous