12
Mar
14:03
ArcelorMittal Jubail sells less to parent, exits default
ArcelorMittal Tubular Products Al Jubail (ATPJ)'s sales to ArcelorMittal group plummeted to only $4 million in 2020 versus $25m in 2019 and $115m in 2018.
The firm’s purchases from ArcelorMittal group amounted to $16m last year versus $53m in 2019 and $42m in 2018.
Due to the failure of other shareholders to provide requisite equity funding by end-2018, Jubail’s indebtedness became technically in default. As of 31 December 2020, this technica…
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Very good overview of the weekly steel market.
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