13
Dec
12:36
Competition, low prices deepen Al Yamamah Steel loss
Al Yamamah Steel Industries Company reported a 9% on-year increase in revenue in the fiscal year through September 2019 to SAR 959.28 million ($255.8m), Kallanish learns from the Saudi re-roller. However, net loss deepened 85% to SAR 39.88m.
The lower profitability was the result of a weak market and shortage of projects, which led to “…intense” competition and low sales prices, despite higher global raw materials prices, Yamamah says.
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Anonymous
Very good overview of the weekly steel market.
Anonymous